EUR/USD sits at 1.2995, effectively unchanged from where it closed out Monday in North America, trading during the Asian session confined to an uninspired 1.2980-1.3017 range.
Today Deutsche Bank to publish full details of its sovereign debt holdings, after earlier withholding their publication as part of the recent stress tests.
Some euro zone data due today:
06:00 GMT: German GfK consumer confidence for August expected unchanged at 3.5
06:00 GMT: German import price index for June expected +0.6% m/m +8.6% y/y
08:00 GMT: Euro zone M3 money supply for June expected -0.1% m/m -0.2% 3m/3m
Talk buy ordes 1.2950/70 stops just below there. Stops said to reside above 1.3030 on topside. However also talk of sell orders in situ from 1.3020 layered through to 1.3050. Should make for interesting price action if/when we get up there.
Talk of China selling up around 1.3000 yesterday afternoon is helping to slow the recent rally a little. As we know with China though, they can be there one minute and gone the next. Doesn’t appear they were present during Asian trade.
