Soft US Manufacturing Data was followed by weak Chinese and Australian numbers during the Asia session causing the pair to extend its decline to almost a whole point. This morning Spanish PMI has come in slightly better than forecasted and Italian, EU, French and German PMI figures are expected shortly. EU Retail Sales and Greek unemployment numbers are scheduled for 09:00 GMT. The analysts at Forex ticket see price ranging this morning between 98.4 and 97.95.
Elsewhere, European Equities are currently trading roughly flat on the day whilst commodities remain under pressure. Spanish and Italian yields are largely unchanged.