All eyes in City on US employment data, which is expected to show 150,000 jobs added in December
The FTSE 100 has opened up 0.2%. Germany's DAX is up 0.3%, France's CAC up 0.6%, Spain's IBEX up 0.6% and Italy's FTSE MIB up 0.2% Michael Hewson, market analyst at CMC Markets, reckons the euro could fall to the lowest point of 2010.The 2010 lows at 0.8065 remain some way off but are by no means out of the question at this stage. Pullbacks are likely to find resistance around the 0.8305/10 area and old December lows, while above here re-targets 0.8370. The key resistance remains around the highs for the last three weeks at 0.8425, and only a move beyond here would target a move back towards 0.8450 and even the 200 week MA at 0.8567.Oh dear. The euro has fallen to another fresh low against sterling. The euro is now worth 82.39p - the lowest level since (earlier in) September 2010. It could be worth buying your summer holiday cash now (scroll down). Good morning, and welcome to another day of our rolling coverage of the eurozone crisis. Yesterday the euro dropped to 82.5p - its lowest against the pound since September 2010 - and it could slide even further today as fears about the health of the contintent's banks continue to mount. The key test will come next week when Spain and Italy issue new bonds. And the spectre of an S&P credit rating downgrade continues to hang over France. All eyes in the City will be on US non-farm payroll numbers due out at 13:30, with trading in Europe expected to be light in anticipation. The number of people in work is expected to have risen by 150,000 in December, which will increase investor confidence in the US economy. "With the much anticipated core European bond auctions behind us until next week, the market's sole attention now turns to the US payrolls report," says Chris Weston, a dealer at IG Markets. "It has to be said that expectations are elevated given all traditional leading indicators have shown improvement from last month, so we will need to see not only an above-expectation print, but at least an inline unemployment rate and a not-so-dramatic revision to last month."
