EUR/USD sits at 1.4520, hardly changed from North America’s close Monday, Asia enjoying yet another barnstorming session.
We’re fast approaching month end and month end flows will become a factor to bear in mind. Hard to believe we’ll be in September come Thursday. Last I heard last week, mumblings had month end flows likely to be euro positive, although I need to check round.
Euro zone economic releases this morning:
08:00 GMT: Italian retail sales for June expected +0.1% m/m, -0.8% y/y
09:00 GMT: Euro zone business climate for August expected 0.10, down from previous 0.45
09:00 GMT: Italian business climate for August expected 97.1, down from previous 98.5
Sean’s flow info: Sell orders seen clustered 1.4550, 1.4565, 1.4580 and 1.4590. Talk of 1.42-1.46 dnt in place.
Sell stops seen through 1.4490 and 1.4480 before buy orders clustered around 1.4450.
