The 10-week moving average (MA), currently at 1.1386, could be breached if the German factory orders for December, due at 07:00 GMT, miss expectations by a big margin, making Germany more vulnerable to a recession.
Wednesday lacks the UK important data and fewer political events are scheduled. Theresa May will travel Brussels to meet the EU policymakers and formally announce a renegotiation of her Brexit deal on Thursday. Read more
Initial jobless claims are predicted to be 227,000 in the week ending February 1st down from 253,000 in the prior week. The four-week moving average is 220,250 in the current week. Read more
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