Spanish auction went OK. As Mr Ostwald said on Bloomberg TV, there was ‘more than enough’ demand for the Spanish offering and he was right!!
EUR/USD garnered a marginal lift from the results, but not alot of followthrough. From 1.3164 post results high we’re back down at 1.3150. Kinda “buy the rumour, sell the fact” price action, the market having positioned for a good result (well those who listened to Mr Ostwald) and quick to book profits. Story of the markets at the moment unfortunately.
All rather mundane….as usual.
