EUR/USD Sentiment

• Portugal is under review for a downgrade.
• France is danger of suffering a credit rating downgrade – France is Europe’s second largest economy. A downgrade or a warning will send the Euro way down.
• There are fresh worries if the Irish bailout will indeed work out.
• Now, Spanish banks are under review by Moody’s.
• China said it helped the Euro-zone during the crisis, and is trying to get closer to Europe before the US-China summit. Will they push the Euro higher? Probably not.
• US bond yields take a break – they’re not challenging new highs. This mostly affects USD/JPY, but also EUR/USD.
• Currensee Community: 50% are long , 50% are short. These are 1264 open positions in real accounts trading this pair at the moment.