Another Day, Another Low for EUR - EUR/USD....>

FOREX: Another Day, Another Low for EUR

- EUR/USD has now printed lower lows for 12 consecutive sessions. Tuesday's

poorer-than-expected ZEW print was largely responsible as respondents

highlighted the increased economic fragility of exporters in Q4, adding to

concerns that Chinese supply chain disruption could compound economic woes. Risk

appetite took a turn for the worse as the US announced more stringent sanctions

on Russia's Rosneft in an effort to squeeze Venezuela's Maduro. This boosted oil

markets, resulting in USD/CAD maintaining its technical downside bias.

- Meanwhile, gold made decent gains as equities took a turn lower, helping prop

spot gold above $1,600 and to alltime highs against the EUR. US equities opened

lower and maintained these losses into the close with tech, energy and

financials the hardest hit.

- Inflation numbers take focus Wednesday, with releases due from the UK (CPI,

RPI, PPI), Canada (CPI), US (PPI) and South Korea (PPI). US building permits and

housing starts are up as well as the Turkish rate decision. Speakers include

Fed's Bostic, Mester, Kashkari and Kaplan ahead of the FOMC minutes.