Price entered the European session having found support at 1.022 and has continued to climb during early trading. Spain has sold EUR 3.5bln of Bonds meeting the maximum target whilst EU GDP has come in softer than analyst expectations at -0.2%/-0.2% QoQ and -0.5%/-0.4% YoY. AUD/USD looks unaffected in the short term and looks to be facing resistance at 1.0245. The analysts at Forex Ticket are anticipating a volatile day with a daily range between 1.0165 and 1.285 and upcoming support levels at 1.0217/1.0192 and resistance at 1.0245/1.027.
European Equities remain elevated alongside commodities whilst critical European yields remain sharply down this morning.