Spain Totters at the Cliff’s Edge

andres del risco

The positive response to yesterday’s Spanish and Italian bond auctions offered some respite to high yield currencies. However, Spain is still in a precarious position, as reports emerged that the Catalonia region may seek assistance from the government. Across the Atlantic, uncertainty over the Fed’s stance at its September policy meeting continues to intensify, as economic indicators released yesterday offered mixed signals. Today’s GDP data and the Beige Book survey will be closely eyed for clearer signals on the economic front.

At home, Sterling is unlikely to have independent moves and is expected to take cues from Eurozone and US news flow.

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