FOREXYARD: Forex News Blog | |
| Watching Spanish and French Bond Auctions Posted: 17 Nov 2011 12:16 AM PST
In a sign of market stress European bond yields continue to rise with the spread between German and French 10-year bonds climbing to an EMU high of 195 bp. This has kept pressure on the EUR with the EUR/USD making a new overnight low. Today investors will be measuring the success of bond auctions from both France and Spain. Today Spain (09:30 GMT) will auction up to EUR 4 billion in 10-year bonds and France (10:00 GMT) will auction up to EUR 7 billion. Successful auctions may help to restore short-term confidence but disappointing results may lead to European bonds being sold off once again. Another threat to keep in mind is the possibility of a clearer to increase margins required to trade Spanish bonds. Additional data releases will come from the UK with retail sales (09:30) and from the US the Philly Fed Manufacturing Index (15:00). Read more forex trading news on our forex blog. |
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