EUR/USD was gunned down by the bears as Bloomberg mistakenly posted the wrong yields for Spain 10-year benchmark, causing heavy selling in EUR/USD. The weakness continued into the US session despite Bloomberg notifying all its clients of the error. Euro-dollar neared its support at 1.2830, implying a bullish correction may be seen in today's session as mentioned in yesterday's market review (GBP/AUD analysis acquired its bearish target).
The economic calendar is relatively light for today's session but the center of attention will be the Spanish Prime Minister, Rajoy's meeting with French President Hollande in Paris. The G7 meeting tomorrow in Tokyo should also support the risk sentiment in global markets aside the strong US earnings data released in yesterday's session. Alcoa Q3 sales were $5.83 billion versus $5.54 billion (market expectations). Yum! also topped expectations and posted strong Q3 results, which favors a scenario where the market bulls sweep the markets through the European and US session.
The Deutsche FinanzagenturEuropean traders will focus on the German auction where the Deutsche Finanzagentur is expected to re-open its 5-year benchmark, 0.50% October 2017 for up to
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