Awaiting Asian reaction to Spanish aid and Chinese data

Australia has a public holiday today (some old Queen’s birthday, Liberace maybe

:)

) and local trade will be quiet. We will have to wait for regional markets to open, starting in just over an hour, to gauge the Asian reaction.

The big gap higher in EUR/JPY might trigger margin calls on Japanese retail platforms (if the market is short that is) so that’s another factor to watch out for.

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