12/01/2011 - Today's Economic Calendar:

TIME (GMT)    EVENT  VALUE NAME   CONS.   09:00    IT:Industrial Production Month over Month 0.6%       Year over Year 4.6%   09:30    GB:Merchandise Trade Level Stg-8.4B       Imports-M/M 0%       Exports-M/M 0%   10:00    EMU:Industrial Production Month over Month 0.5%       Year over Year 5.9%   12:00    US:MBA Purchase Applications Purchase Index - W/W Change 0%       Refinance Index - W/W Change 0%       Composite Index - W/W Change 0%   13:30    US:Import and Export Prices Import Prices - M/M change 0%       Export Prices - M/M change 0%       Import Prices - Y/Y change 0%       Export Prices - Y/Y change 0%   15:30    US:EIA Petroleum Status Report Crude oil inventories (weekly change) 0M barrels   19:00    US:Beige Book    19:00    US:Treasury Budget Treasury Budget - Level $0B   Full week Economic Calendar

Portuguese Bond Auction Likely To Keep EURUSD Supported

News and Events: Surprisingly the EUR has been able to overcome an excess of bad news and negative press to enjoy a decent rally so far this week.  Aside from the EU debt sales today, the economic calendar is sparse, and things really only notch up a gear tomorrow with the first BoE and ECB rate decisions of the year. Although no change is expected from the BoE this month, inflationary pressures are grabbing more of the spotlight of late, and stoking discussion of potential tightening for the UK in the first half of 2011. Read Today's Key Issues and The Risk Today

Resistance and Support: EURUSD GBPUSD USDJPY USDCHF 1.3250 1.5910 84.40 1.0065 1.3085 1.5770 84.00 0.9850 1.3071 1.5665 83.70 0.9784 1.3029 1.5641 83.11 0.9729 1.2875 1.5421 82.65 0.9605 1.2830 1.5405 81.70 0.9530 1.2645 1.5345 80.95 0.9365 S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot