With the Spanish 10 year bond yield hovering at Euro-era highs, risk aversion remains the order of the day over persistent fears that Spain is on the brink of seeking more assistance from the Eurozone. Reports indicating that Greece might not receive further aid from the IMF have made matters worse.
Meanwhile, traders are eyeing second quarter UK GDP data mid-week, which is expected to reveal a recessionary trend as an extra holiday in the previous quarter proved a major drag on economic performance. In today’s trading session, the Eurozone consumer confidence and the Chicago Fed national activity index are expected to offer further direction to risk sentiment.
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