FXstreet.com (Barcelona) - EUR is back to the negative territory, trimming early profits after the Spanish debt market is back to centre stage. In fact, the 2-yr note yield has climbed to 7.01%, highest since the creation of the euro. This follows yesterday’s jump of the 5-yr note above the 10-yr benchmark for the first time.
Ahead in the day, IFO series are due in Germany and housing data will be on tap across the Atlantic, as well as the weekly report from the EIA on crude oil inverntories.
The cross is now losing 0.04% at 1.2054 with immediate support at 1.2042 ahead of 1.200 then 1.1984 and 1.1957
On the upside, a breakout of 1.2115 would bring 1.2145 then 1.2168 and 1.2181
Ahead in the day, IFO series are due in Germany and housing data will be on tap across the Atlantic, as well as the weekly report from the EIA on crude oil inverntories.
The cross is now losing 0.04% at 1.2054 with immediate support at 1.2042 ahead of 1.200 then 1.1984 and 1.1957
On the upside, a breakout of 1.2115 would bring 1.2145 then 1.2168 and 1.2181
