Not too much change ovenight in Asia. Where there has been any movement the USD is very marginally weaker. EUR/USD is up at 1.4150 from a North American close Tuesday around 1.4130.
I noticed a Bloomberg article highlighting a report written by Pacific Investment Management Co (PIMCO – who run the world’s largest bond fund.) In it the company says the USD will weaken as it’s reserve status erodes.
Asian stockmarkets saw only subdued price action, which didn’t help forex activity. S&P futures are flat as the proverbial pancake.
For today, European data due for release:
06:00 GMT: German PPI for July expected -0.2% m/m, -6.5% y/y
08:00 GMT: Euro zone current account June
08: 30 GMT: Bank of England minutes
09:00 GMT: Euro zone construction output June
10:00 GMT: UK CBI industrial trends August
