We’re around 90 pips lower this morning from yesterday’s european open and weak Chinese data o/n hasn’t helped any recovery. Focus this morning will be on the CPI data starting with the German’s shortly..
EUR/USD has offers sitting just above around 1.2300/10 and bids down at 1.2240/60 with sell stops just below. With stocks looking likely to open lower a potential retest of yesterday’s lows around 1.2267 looks possible, unless we get some strong CPI data.
That said it’s Friday and anything goes, but personally fancy a small blip to the downside before a recovery later for what its worth…