[07:11 EUR/USD: TIC Data Eyed As Inflation Takes A Back Seat] London, June 15:
[EUR/USD] sellers up at 1.2050/60 will look to limit any EUR bounce this morning
ahead of the US data that may not be as "key" as was previously suggested. The
EUR was unable to rally yesterday despite the below expectation US PPI and
Retail Sales, so the intraday slew of numbers at 12:30 GMT, including CPI, and
the latest
TIC data at 13:00 GMT will need to draw some seriously negative
conclusions if the EUR is to be saved from its current test of 1.20 fate. Some
suggest that whatever the outcome the data will be USD supportive but a poor TIC
number may swing the focus back to US funding fears. A large US institutional
investor was rumoured to be behind the big down-leg in
[EUR/USD] yesterday but
with large 1.2000 options still in play support ahead of the triggers is being
worked through. Having hit a fresh nine-month low at 1.2017 overnight the Asian
session produced some profit-taking as
[EUR/JPY] support at 131.50 helped prop.
There is little on the European calendar again today with only Italian CPI for
May due at 08:00 GMT. On the downside below 1.20 large quantities of options are
reported as residing at 1.1990, 1.1950, 1.1900 and back at 1.1750 while on the
topside clusters of stops are seen above 1.2065 and 1.2075 but only a run
towards 1.2100 is seen as taking the pressure off the downside. --
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