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EUR/USD flat-lining ahead of German Factory orders report
The EUR/USD ran into the firmer dollar on Friday, resultant from the much better than forecast US September monthly jobs report. The move through 1.10 that produced in the EUR/USD was covered here at the time and the Euro was simply not able to rebound into the weekly close. The EUR/USD ended last week in the US at 1.0974. The range seen so far today has been covered by 1.0962 to 1.0976 and very shortly we will get some data out of Germany, which might impact that range too. That is the latest Factory orders (August) and they are expected top show a steep contraction, around 2% that month. The data will be released at 6am GMT and so the Euro could move, if the surprise is big enough- we shall see shortly. The EUR/USD is just now trading at 1.0967
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