Looks like we may be in for a period of consolidation awaiting the EU finance ministers meeting this evening in Brussels. It is usually late afternoon US time before them meeting break up and the ministers speak to the assembled press. Expect the news wires to chock full of comments from ministers starting about midday in New York as the ministers begin to gather…That is the typical modus operandi .
Heading into the meeting we’re heard talk that there may be a bailout deal in place for Portugal and a credit line set up for Spain.
Sellers are seen on rallies to the 1.3310/20 area near-term in EUR/USD while buyers lie just below the 1.3250 area.
