Fraction below 45.1 in January and slightly weaker than Reuter’s median forecast of 45.5.
10th consecutive month of contraction.
New session low for EUR/USD at 1.3305.
Just picking up that Middle Eastern soveriegn selling being seen in USD/CHF, with more interest said to lie up at 9060/80 (we’re at 9055 presently). Does than mean they’re gonna be selling dollars against the euro as well? EUR/USD pairing could do with some help…..
As mentioned earlier, initial technical support of note lined up at 1.3295.
UPDATE: 1.3323 bid. Who could have been buying? If you think it’s the Middle Eastern sovereigns think again. Talk is Eastern European buying notable in latest little spike.
UPDATE: I find this very interesting as Eastern European names had been major EUR/USD sellers earlier in week. Can anyone say “profit taking”
UPDATE: Also you gotta remember the magnetic-effect of that lumpy 1.3340 vanilla option expiry
I’m just joshing with ya
