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Monday, December 18, 2006

EUR/USD: Gravitating toward 1.3100 Strike as Expiry Approaches

EUR/USD trades in disinterested fashion, gravitating toward the 1.3100 level where vanilla strikes expire this morning. The US economic calendar is empty until 18:00 GMT when the National Association of Home Builders index will be released. Housing has appeared to stabilized in recent months, and the builders index is expected to rebound to 35 from 33, amplifying that point. EUR/USD bids are eyed at 1.3085 while offers reside at 1.3115/20.

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