Successful auctions in Spain, Greece and Ireland have calmed European sovereign debt jitters and have given EUR/USD a boost. 1.3158, the 76.4% Fibo retracement of the 1.3334/1.2588 decline continues to cap near-term, however. If we dip much below the 1.3115 region, EUR/USD bulls may take some profits, I suspect.
The BIS is rumored selling now in the 1.3130s, we hear.
Housing starts are next up, seen rising very slightly to a 0.55 mln annual rate from 0.546 mln.
