News than German and France are ready to back a debt guarantee for Greece, combined with the anticipated nomination of the dovish Janet Yellen to be vice-chair of the Federal Reserve Board along with a warning from China to Obama to not “politicize the yuan” have combined to push EUR/USD close the 1.3800 level.
Technical warning signs and a rally in equities have been setting the stage all week for this move, and thank goodness it has finally come. Boredom would have claimed us all before long, had it not…
Retail sales are the next focus. A -0.2% drop is expected amid February’s blizzards. A 0.1% rise is seen after auto sales are stripped out.
