Hey, I got almost two sessions out of my near-term top call for the euro…it’s something.
EUR/USD played some serious catch-up to gold overnight and got a further lift from Singapore tightening monetary policy. Traders see Asia in tightening mode, the US in super-currency debasement mode and the ECB in status-quo mode making the USD the red-headed stepchild of the forex world.
The upside target near-term is now the area on congestion between 1.4200 and 1.4220.
Bids are eyed on dips to the 1.4050/60 area now. We consolidate at 1.4090 awaiting initial jobless claims. Claims are expected flat at 445k.
Trade figures (-$44 expected) and PPI (core expected up 0.1%) are due out at 12:30 GMT as well.
