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EUR/USD watching and waiting for a surprise from France shortly

The EUR/USD has remained in a tight range since the close last night, despite the slide in the USD/JPY today. That is simply all due to a reversal lower in the EUR/JPY. The EUR/USD closed in the US last night at 1.0838. That was quite an improvement from the earlier session low just underneath the 1.08 handle. However, it has not made much further progress yet today. The range seen so far has been covered by 1.0828 to 1.0841. Now, shortly at 7.45am GMT we get the first of a few quite important Eurozone inflation reports. This first one comes from France and although that might not always grab the immediate headlines, it is data that can have an impact. The markets expect conflicting data here, with a significant monthly rise, countered by a lower annualised reading. The Euro can react to this if there is any major surprise, but any reaction might be curtailed ahead of more of the same from Germany later this morning and then the even more important PCE numbers from the US this afternoon. The EUR/USD is currently trading at 1.0832
 

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