EUR crosses/EUR/USD

EUR risk events: Spanish bond auction and ECB decision

  • Spain will sell up to EUR 4bln of 2014, 2015 and 2017 bonds:
  • No rate change expected from ECB:
  • “Wait and see” likely to be main message:
  • Don’t expect Draghi to say anything too dramatic in his press conference:
In other words, sounds like a recipe for further range trading. 

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