EUR/USD continues to hold just under 1.1800 with large option expiries seen at the figure level today. But it is perhaps ECB vice president de Guindos' remarks here yesterday that is keeping things in check. He put a soft cap on the euro at 1.20 and that's a bit of a warning signal for traders not to run too far, too fast.
In the equities space, we saw a rotational play come into effect to start July trading. Tech shares were beaten down with the Nasdaq closing lower by 0.8% while the Dow climbed by 0.9% instead. That is keeping things interesting as investors slowly gear towards the non-farm payrolls data tomorrow. US futures are up slightly on the day, roughly around 0.3%.
There won't be much on the agenda in European trading today to shake things up. As such, it'll likely be a bit of a quiet one in the session ahead. That before we get to the ADP employment roulette data in US trading and a check of Wall Street's appetite after the stock rotation yesterday.
This article was written by Justin Low at www.forexlive.com. Read More Details
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