Sits at 1.4322, effectively unchanged from North America’s Wednesday close.
I’m going to go out on a limb here again and predict we have a quiet session this morning ahead of the ECB rate decision. If all hell breaks loose like yesterday, then I’ll readily accept your grateful thanks. The only reason we had yesterdays’ hectic activity was because the market wanted to show that I know jackshit (as if confirmation were actually needed)
Euro zone data and stuff scheduled:
06:45 GMT: French trade balance for May expected -5700 mln
10:00 GMT: German industrial production for May expected +0.8% m/m, +7.0% y/y
11:45 GMT: ECB rate hike decision. Widely expected rate will be raised 25 bps to 1.5%
12:30 GMT: Trichets press conference
Technical supports now lined up at 1.4282 (61.8% of 1.4102-1.4580) and 1.4265 (100 dma) Talk of sell stops through 1.4280. Sell orders seen clustered 1.4350/60. I’d suspect trailing buy stops close above there, but will need to get confirmation of such.