Today's Economic Calendar

TIME (GMT)    EVENT  VALUE NAME   CONS.   05:30    FR:CPI Month over Month 0.1%       Year over Year 2.1%   07:15    CH:Producer and Import Price Index M/M % change 0.1%       Y/Y % change -0.1%   08:30    GB:Labour Market Report Av. Earnings-Y/Y 2.1%       Claimant Count 4.6%       ILO Unemployment 7.7%       Claimant Count-Chg 5000   09:00    EMU:Industrial Production Month over Month -0.2%       Year over Year 5%   11:00    US:MBA Purchase Applications Purchase Index - W/W Change 0%       Refinance Index - W/W Change 0%       Composite Index - W/W Change 0%   12:30    US:Consumer Price Index CPI - M/M change 0%       CPI less food & energy 0.2%   12:30    CA:Manufacturing Sales Month over Month 0%       Year over Year 0%   12:30    US:Empire State Mfg Survey General Business Conditions Index - Level 14   13:00    US:Treasury International Capital Foreign Demand for Long-Term U.S. Securities $0B   13:15    US:Industrial Production Production - M/M change 0.2%       Capacity Utilization Rate - Level 77%   14:00    US:Housing Market Index Housing Market Index 0   14:30    US:EIA Petroleum Status Report Crude oil inventories (weekly change) 0M barrels       Gasoline (weekly change) 0M barrels       Distillates (weekly change) 0M barrels   Full week Economic Calendar

Lack of Agreement Triggers EUR Weakness

News and Events: Yesterday’s moderate rally in risk-correlated FX trades is starting to stall on word that an unscheduled EconFin meeting in Brussels has failed to reach an agreement on a bailout to Greece (no official statement was released).  In Australia, the RBA’s Stevens seemed to have reiterated the central bank’s slightly hawkish tone and had traders dreaming of a reenergized tightening bias. For today, US data markets are anticipating falls in Industrial Production and Capacity Utilization, it will be interesting to see if the market will momentarily look away from events in Europe to address the worrying signs in the US (as they did yesterday with retails sales). Read Today's Key Issues and The Risk Today

Resistance and Support: EURUSD GBPUSD USDJPY USDCHF 1.4653 1.6600 81.78 0.8734 1.4550 1.6574 81.33 0.8595 1.4450 1.6498 81.01 0.8547 1.4331 1.6295 80.72 0.8490 1.4309 1.6133 80.00 0.8328 1.4258 1.6060 79.57 0.8300 1.4149 1.6000 76.40 0.8200 S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot