FXstreet.com (Barcelona) - EUR/USD is currently again above 1.2600 retreating from session highs at 1.2616, bouncing from daily lows yesterday at 1.2557. The pair is still lower from previous weekly close Friday, falling from fresh 3-week highs yesterday at 1.2747, amid worsening banking crisis in Spain, and despite good results in Sunday's Greek elections, favorable for those Euro supporters.
The London session ahead will pay much attention to Spanish yields which yesterday touched a new record high since 1997 at 7.28% in the 10y yield, with the risk premium with Germany nearing the all time record 600 basic points, last at 576bps. Today Spain will try to sell up to € 3B in 12 to 18 months bills, with Germany selling 6 month bills at 06:00 GMT. Spain 10y yield is at 7.18%.
The economic agenda will bring key German ZEW at 09:00 GMT, with G-20 meetings going on all day long for second consecutive day in Mexico. Markets will also await for a coalition government to be formed in Greece as soon as possible.
Immediate resistance to the upside for EUR/USD shows at recent session and June 07 highs at 1.2616/26, followed by Friday's Asian session highs at 1.2647, and Friday's high at 1.2670. For the downside nearest term support shows at Friday's lows 1.2592, followed by yesterday's lows at 1.2556, and Thursday's lows at 1.2540.
No comments:
Post a Comment