FXstreet.com (Barcelona) - The single currency is almost unchanged after the results of the Spanish banks’ audit.
The stress tests have shown that banks would need between €51.8 billion and €62 billion in the worst scenario and between €16-25 billion in core scenario. The stress tests have used 26.4% of house price drop and assumed 6.5% GDP contraction.
The cross is now losing 0.93% at 1.2573, facing the immediate support at 1.2571 followed by 1.2552 and 1.2542
On the upside, a break above 1.2708 would expose 1.2744 and 1.2748
The stress tests have shown that banks would need between €51.8 billion and €62 billion in the worst scenario and between €16-25 billion in core scenario. The stress tests have used 26.4% of house price drop and assumed 6.5% GDP contraction.
The cross is now losing 0.93% at 1.2573, facing the immediate support at 1.2571 followed by 1.2552 and 1.2542
On the upside, a break above 1.2708 would expose 1.2744 and 1.2748
