Euro Rallies as Commercial Banks Prepare to Repay EUR 442B, British Pound Weighed By BoE Comments
The Euro rallied to a high of 1.2303 during the overnight trade as the European Central Bank announced three-month loans to commercial banks increased less-than-expected and that it fulfilled its goals for the EUR 60B covered bond purchase program, and the Governing Council may look to implement its exit strategy at a fastest pace over the coming months as the worst of the debt crisis appears to have passed.
Opening Comment 06.30
Stock markets were sent into a tailspin yesterday following Shanghai’s hefty 4.27% loss after the Conference Board revised lower China’s leading indicators showing that growth is beginning to slow.
Euro May Rise as Risk Appetite Recovers, German Unemployment Falls
The Euro may advance as US equity index futures trade higher, hinting at a rebound in risk appetite that may buoy the single currency against the Dollar and Yen, while German unemployment falls for the 11th month.