December E-mini S&Ps (ESZ14 -0.35%) this morning are down -0.33% and European stocks are down -0.44% as Amazon.com dropped 10% in pre-market trading after lowering Q4 revenue guidance .

December E-mini S&Ps (ESZ14 +0.34%) this morning are up +0.30% and European stocks are up +0.94% as slower-than-expected Eurozone inflation bolstered speculation the ECB will boost stimulus.

The current set of fundamentals before us continues to suggest that the EURUSD remains in its 11 week trading range of 1.36 -1.40. Why should it?