In currency markets, EUR/USD erased early losses to close above the 1.31 figure. USD/JPY moved higher, gaining to 81.25. Gold fell 0.5%, closing below $1,650 per ounce.
Tonight, all eyes turn to Spain to see how well their auction performs. Seems to be a simple formula for tomorrow: better-than-expected results = higher equities; worse-than-expected = lower equities. Now, what happens if the results are as expected… that’s the real question.