EUR early attempt to rally was beaten back last night with a high of 1.3029 the best it could do. This, despite strong demand at the Greek, Irish and Spanish auctions (though Hungary’s was a disappointment). The pair slipped back through 1.29 on profit-taking and short-term stops from momentum traders,

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EUR Rally Stalls Above 1.30 For A Second Time

Yesterday, the Euro was able to shrug-off Moody’s downgrade of Portugal with the buttress of a well-received Greek debt auction the positive move was even further resistant to yesterday’s positive run in US equity earnings. As a result, EURUSD climbed quickly and was able to break the 1.2700 threshold.

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Greece Auction & US Earning Support Risk Sentiment

The Euro and others gained against the US Dollar today as "risk-on" trades performed well. For the Euro, a Greek auction of €1.625 billion in 26-week T-bills was well received, netting a yield of 4.65%. That is below the 5% that Greece can borrow from the EU/IMF, and as a

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Euro Surges Forward on Greek Auction, Positive Tone in Equities