At 12:30 GMT:

  • CPI seen up 0.2%/0.2% ex-food and energy
  • Empire State Manufacturing index, expected down -4.00
  • Initial claims seen 411,000 from 414,000

At 13:15 GMT:

  • Industrial production, expected flat

At 14:00 GMT:

  • Philly Fed survey, the most important data point of the day, seen -15 from -30.7

1.3835/40 is the key level of resistance for EUR/USD, the July lows which will now provide resistance. Stops are at 1.3850.