Eurozone PPI (Dec) -0.2% vs. -0.1% expected (0.2% prior).
UK Construction PMI (Jan 51.4 vs 52.6 expectation (53.2 prior).
Sterling traded higher on the release.
USD/CHF testing resistance at 50.0% on hourly.
The USD is currently trading off session highs across the board; testing the 50.0% on the hourly chart with the next target higher being .91963.
Fitch says European investors says the Eurozone crisis resolution is critical for banks.
Cable testing support at the lows.
With risk sentiment low in the market, Sterling has followed the Euro lower; currently testing support at 1.59173.
Euro, and other risk pairs, lower.
Since the prior post the pair could not make a break to the topside; however, just the opposite has occurred. We’ve broken support at 1.31586 and has continued through the 38.2% line and is currently trading in the area of the 200 bar moving average. The next stop lower is the 50.0% fibo line at 1.31213.




