The Asian session is best forgotten, basically a non-event. Levels on most majors bear a canny resemblence to those seen at the North American close Tuesday.
EUR/USD sits at 1.4405. So far sovereign sales around 1.4430 have capped the upside. North of there talk of 1.4450 barrier option interest and a fairly robust defence of said interest expected.
Cable marginally lower from where it closed out Tuesday in North America, presently at 1.6925. The pairing continues to be capped by sell interest up at 1.7000/10.
Obviously tomorrows Bank of England MPC and European Central Bank announcements loom large.
Ahead of that though there are a fair number of European data releases which may liven things up.
07:45 GMT: Italian PMI services (July) expected 42.7
07:50 GMT: French PMI services (July-final) expected 45.5
07:55 GMT: German PMI services (July-final) expected 48.4
08:00 GMT: Euro zone PMI services (July-final) expected 45.6, composite expected 46.8
08:30 GMT: UK PMI services (July) expected 51.8
08:30 GMT: UK industrial production (June) expected flat m/m, -11.4% y/y
08:30 GMT: UK manufacturing production (July) expected -0.1% m/m, -12.1% y/y
08:30 GMT: UK official reserves (July)
09:00 GMT: Euro zone retail sales (June) expected +0.3% m/m, -2.2% y/y
09:30 GMT: UK BRC shop price index.
