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- European session: the euro is still under pressure
European session: the euro is still under pressure
08:15 Switzerland Producer & Import Prices, m/m December -0.8% -0.4% +0.3%
08:15 Switzerland Producer & Import Prices, y/y December -2.4% -2.8% -2.3%
The euro is still under pressure as France prepared to sell bills after Standard & Poor’s stripped the nation of its top credit rating and cut eight other euro-region nations.
Europe’s shared currency briefly pared declines after the European Central Bank was said to buy Italian and Spanish debt to cap yield increases.
The euro dropped on Fraday amid reports of imminent ratings cuts before S&P lowered the top grades of France and Austria one level to AA+, with “negative” outlooks. The company affirmed the ratings of countries including Germany, Belgium and the Netherlands and downgraded Italy, Portugal, Spain and Cyprus by two steps and Malta, Slovakia and Slovenia by one level.
EUR/USD: during european session the pair was limited $1.2620-$ 1,2680.
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