The EUR/USD remained little changed after the improvement of the NY Empire State manufacturing index, gyrating around 1.3350. Market participants will now wait for the speech by Buba’s J.Weidmann due later. Although no relevant announcements are expected, the generally contrasting views of Weidmann regarding the ECB’s policies could spice up the afternoon. There are no further US releases today, apart of the results of 3m and 6m Bill auctions.
At the moment the pair is losing 0.01% at 1.3347 and a breakdown of 1.3295 (low Jun.14) would open the door to 1.3279 (low Jun.13) and finally 1.3266 (low Jun.12). On the upside, the next hurdle lies at 1.3390 (high Jun.13) ahead of 1.3434 (high Feb.20) and then 1.3456 (high Feb.14).