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. (more...)
