Euro ticks higher in midday London trade ahead of Wall Street open

The euro ticked higher in midday London trade despite the fall in German manufacturing orders, but remains vulnerable to another move down when Wall Street opens later today, dealers said.

Today sees the release of US consumer credit figures for June, at 3.00 pm. Consensus is for consumer credit to rise by $7.8bn (€8bn) in June, after credit expanded 9.5 billion US dollars in May. The slower pace of auto sales in the month is expected to have moderated credit growth slightly.