Euro Continues In Tight Range

The EUR/USD currency pair continues to remain rangebound. Recent spikes have followed the release of weaker than expected US economic data. That possibility exists again today. US ISM numbers are due at 14:00 GMT. Some analysts think the consensus number is too optimistic and feel that a negative surprise is a definite possibility. With that being the case, they will expect to see yields on the US 10 and 2 year note to drop. That should push the Euro to all-time highs. We will look for our trend to develop north of 1.3660.