EUR/USD has added 5 pips thus far and...>

EURO-DOLLAR: EUR/USD has added 5 pips thus far and sits at $1.1331 at writing.

This occurs after the rate jumped 50 pips Tuesday, mostly on the back of broader

USD gyrations. 

- A couple of ECB members spoke yesterday. Knot told the FT that he endorses a

"wait-and-see" approach as the optimal attitude, while Nowotny said that the

Bank will consider further policy decisions in summer. 

- Elsewhere, yesterday RTRS reported that Spanish PM Sanchez, who expects to

lose a crucial budget vote later today, is set to call a snap election. 

- Bulls look for a break above $1.1340, which capped gains yesterday, before

challenging the cloud base at $1.1358. On the downside, initial support is

located at the 50-MMA which comes in at $1.1314 and a fall below would bring the

up trendline from Nov 12 at $1.1308 into view. 

- EZ focus this week turns to German & EZ GDP figures due Thursday. Elsewhere,

ECB's Lane, Villeroy & Visco will speak later today, while Coeure & Angeloni are

set to speak Friday.