Spain just sold 5-year bonds at an average yield of 4.123% and 2-year debt at 2.823%. The annualized Spanish industrial output came in higher, from -7% (revised from -7.2%) to -6.9% in December.
The French trade deficit with the EU widened from €-4.3B to €-5.3B in December, instead of narrowing slightly to €-4.2B as expected. Both imports (€43.137B) and exports (€37.788B) increased.
“Penetration through 1.3500 and more significant 1.3458, would open way towards next strong support area at 1.3400, near 50% of 1.3073/1.3710”, wrote Windsor Brokers analyst Slobodan Drvenica, pointing to clearance of 1.3600 as required to improve near-term tone and shift focus higher.