[محمد السويد]

[14:38 EUR/USD: Surge Subsides After Rally Scramble] Boston, January 30: The
market is not in much of a risk taking mood, doing the business that needs to be
done, then heading to the sidelines. Dealers report heavy buying by a US
investment bank on the scramble to 1.2492 (EUR 500-600 mln), but once that
buying was out of the way, EUR/JPY sales were enough to send EUR/USD back to
support at 1.2420/30. Fresh longs taken on the run up to session highs are now
nervously eyeing bids, not wanting to get caught in these month-end markets.
Michigan confidence is due in a few moments, seen at 102.6 from 103.2. Chicago
PMI follows, expected at 62.0 from 59.2. --Jamie.Coleman@thomson.com/rd