ECB Bond auctions today – potential Euro movements

Today we see the well followed release of German, italian and Spanish bond auctions which had been extremely closely followed over the past few months as Spanish and Italian levels had crept over the 7% level which in the past had been seen as a level which generally leads to a bailout.

The other problem with the levels is the huge difference between German bond yields and the Spanish and Italian levels as there was a great gap emerging which makes life extremely hard for the European Central Bank to keep fiscal controls on such considerably differing economies.

On top of all this with have interest rate decisions for both the European Central Bank and the Bank of England tomorrow so for those looking to buy or sell Euros you must be on the ball and be ready to expect absolutely anything to happen in the next 48 hours.

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