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Euro under the cosh as it heads towards 1.0600
EURUSD is finding some air pockets as cross action drives it lower. Liquidity isn't the greatest right now. We seem to be seeing it dry up between the data points and events as the market is in full wait and see mode ahead of the central bank action from the ECB and Fed. European stocks are running higher also. The euro is off against the dollar, yen and pound and that's also aiding gains in USDJPY, and non-euro Swiss crosses. 1.0600 and the Monday 1.0590 low is the area's to watch. If they break then there's may be a bit more behind the moves than thin conditions. So far we've got to 1.0606 and bounced but we need ... (full story)