Forex Flash: EU calendar puts focus on politics – Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that there is no meaningful data in Europe, thus shifting political focus onto the political scandal in Spain.

Also his flags tomorrow´s Spainish debt auction and Draghi´s press conference as key events in the markets eye. He writes, “Newswires reports yesterday that the ECB is not concerned by the Euro’s level saw the currency bounce, and with US equities also rallying, the Euro’s main threat is the political one from Spain. If that fades, we will re-test highs next week.”