A bad day for the euro bulls as important technical resistance at 1.2860 was punctured but did not hold and we have fallen back over a cent.
Worries over Spanish banks having to resort to ECB liquidity the ostensible cause for the downtrend reasserting itself. Italy was able to auction Just under EUR 5 bln in bonds overnight at much lower yields than last time around, a modest sign of stability…
US trade figures are due out shortly, expected to widen to $45 bln in November.
Michigan sentiment is due at 14:55.
