It’s been easy to get hung up on one thing but there’s plenty going on elsewhere. Here’s a quick rundown.
USD/JPY is going nowhere and 101.65/85 has contained since the US woke up
GBP/USD is hovering around 1.6950 and is being supported by the prospect of greater rate differentials between the UK and EZ playing out in EUR/GBP. That is holding the lows around 0.8170. 0.8157/60 is worth watching as it is the Feb low and 61.8 fib of the 2012 swing up.
European stocks are getting Draghi boost with the majority up 1% or more
- FTSE +0.4%
- Cac +1.1%
- Dax +0.6%
- Ibex +1.3%
- Mib +1.9%
US stocks are in the green too with the S&P up 6 at 1884, DOw +51 to 16569, Nasdaq +28 at 4096
On the bond front European bonds continue to fall
- Italy 2.93% -8bp
- Spain 2.89% -7
- Germany 1.45% – 2
US 10’s are back below 2.60% at 2.59%
