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EUR/USD treading water but there is another risk event this afternoon

The EUR/USD managed to take advantage of some contained dollar weakness yesterday afternoon, following the disappointing US sales data. However, and despite recovering further from below 1.0700, the Euro did not break any fresh ground, when it topped out around 1.0785. The lack of dynamic traction there delivered a drop back to test 1.0750 ahead of the US close. The EUR/USD later ended that session at 1.0772. So far today it has made no further progress and peaked earlier on at 1.0776. The low seen so far today has been set at 1.0748. It is pretty much camped in the middle of that range as I type. Now later today we have another US data derived risk event and that is the latest PPI (Producer Price Index) report, due out at 1.30pm GMT. There will be more detail to follow on what is expected later this morning. The EUR/USD is currently trading at 1.0764

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