EUR Trading Outlook (07-06-2012)
The Euro (EUR) the ECB meeting was a non event with the decision to leave interest rates 1.00% with the ECB President Draghi quite calm given the financial storm in Spain and instead focusing on inflation expectations. He did note that some ECB members wanted a rate cut but that other measures to help Spain were outside the ECB jurisdiction currently. Spain has a very important 10yr bond auctions at the start of Europe today that will be closely watched by the market.
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