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15 Jul 2013
EUR/USD finds buyers at 1.3050, Spanish PM btw rock and hard place
FXstreet.com (Barcelona) - EUR/USD exchange rate is trading off its session low at 1.3050, to presently sit up at 1.3071 after printing a new high for the present session at 1.3077.
Vacant calendar in Europe
There is no data of interest along European hours that may produce external stimulus on the Euro. Later in the U.S. session, the NY Empire State Manufacturing Index (Jul) and Retail Sales at 12.30 GMT will be published, and with it, new catalysts for the pair.
Portuguese political turmoil continues
According to Westpac, "The euro’s Bernanke-driven gains haven’t proven as fragile, however, the 1.32 handle is likely to remain a struggle as Portuguese political divisions continue to undermine sentiment while ongoing recession and low inflation keeps the pressure on the ECB." The Bank recommends its clients to sell rallies this week, "though 1.2750/1.2800 should hold" Westpac said.
Check headlines out of Spain
In Spain, the political instability reached new highs over the weekend, after the Spanish Primer Minister was exposed following the publication of leaked text messages. Urgent meetings are scheduled to take place during the day, however, Perez Rubalcaba, the opposition leader has already demanded Rajoy's an "immediate resignation."
Vacant calendar in Europe
There is no data of interest along European hours that may produce external stimulus on the Euro. Later in the U.S. session, the NY Empire State Manufacturing Index (Jul) and Retail Sales at 12.30 GMT will be published, and with it, new catalysts for the pair.
Portuguese political turmoil continues
According to Westpac, "The euro’s Bernanke-driven gains haven’t proven as fragile, however, the 1.32 handle is likely to remain a struggle as Portuguese political divisions continue to undermine sentiment while ongoing recession and low inflation keeps the pressure on the ECB." The Bank recommends its clients to sell rallies this week, "though 1.2750/1.2800 should hold" Westpac said.
Check headlines out of Spain
In Spain, the political instability reached new highs over the weekend, after the Spanish Primer Minister was exposed following the publication of leaked text messages. Urgent meetings are scheduled to take place during the day, however, Perez Rubalcaba, the opposition leader has already demanded Rajoy's an "immediate resignation."