Watch out for the Euro today

So much going on this morning. China central bank has raised their reserve requirement by 50bp effective on November 29^th.

At the same time, Irish PM Cowen has applied for a bailout plan of about 80 to 90 bn Euro. This gave a boost to the Euro which opened 40 pips higher.

Aussie recovered its Friday’s losses but may just get capped out due to fear of China raising rates.

Not much coming out today on the data front, so I would keep a close watch on the Euro and the Aussie today. Looking to Buy Euro, as I do think markets will push it higher today.

Data Today:

Eurozone consumer confidence - 8.30am GMT