Euro debt still a concern

Euro debt issue still remains to be the main concern for markets.

Euro closed lower for the 7^th consecutive session, on the back of rumored downgrade on French sovereign debt.

Sterling was quite resilient yesterday and didn’t push down as low. We see it trading back up to above 1.5550.

Aussie just got hammered down this morning after poor results of GDP. Looks like we may just see aussie fall further today.

Yen saw some correction as it pushed lower to below 83.50. I would still look to buy USDJPY. So we may just see some bids coming in.

Data Today

German PMI manufacturing – 9am GMT

Eurozone PMI manufacturing – 9am GMT

UK PMI Manufacturing – 9.30am GMT

US ADP employment change – 1.15pm GMT

US ISM manufacturing – 3pm GMT

Fed Beige Book – 7pm GMT