Back to the top of the days range as EUR/USD bounces from the 200-day moving average and Spain says it’s budget meets or exceeds to targets of the EU. Makes it easier to get a bailout if all your ducks are in a row, I guss Mr. Market has concluded.
Stops are eyed in the 1.2910 area if the rally extends.
Risk-on all around despite the lousy US data. More likely China will ease being the apparent rationale. The S&Pis up 0.9%, opil up 2% and US bond yield up 3.8 bp at 1.647%.
