{"id":18204,"date":"2011-01-17T07:59:46","date_gmt":"2011-01-17T12:59:46","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=18204"},"modified":"2011-01-17T07:59:46","modified_gmt":"2011-01-17T12:59:46","slug":"european-debt-sales-boosts-euro-weak-news-day-expected","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/01\/17\/european-debt-sales-boosts-euro-weak-news-day-expected\/","title":{"rendered":"European Debt Sales Boosts Euro; Weak News Day Expected"},"content":{"rendered":"<p><strong>By Yan Petters<\/strong><\/p>\n<p>Last week\u2019s most significant trend in the market was surely the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/01\/14\/bullish-euro-predicted-for-next-week\/\">bullish euro<\/a>.  The euro gained no less than 580 pips vs. the dollar, completing its  highest weekly gain since May 2009. The euro also strengthened about 400  pips against the Japanese yen, and about 200 pips vs. the British  pound.<\/p>\n<p>The euro\u2019s bullish trend was mostly due to the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/01\/12\/euro-rally-creates-selling-opportunity\/\">Spanish, Italian and Portuguese debt auctions<\/a>.  Analysts were surprised to see the strong demand for the debt purchase,  especially considering the fact that these countries are viewed as the  ones most likely to eventually seek a financial bailout from the  euro-zone. This has showed that the market still has a great deal of  confidence in the euro-zone and in its currency.<\/p>\n<p>For the near future, the risk of seeing another member of the  euro-zone seeking a financial bailout seems somewhat reduced. This has  potential to further support the euro against the dollar. Nevertheless,  investors will now pay more attention to the economic releases from  Germany, which holds the largest and strongest economy in the euro-zone.  If Germany will not manage to deliver positive data, the euro\u2019s  bullishness could be corrected.<\/p>\n<p>Today, U.S. banks will be closed in observance of Martin Luther King Day, and a relatively weak news day is expected.<\/p>\n<p>The most significant economic release looks to be the Canadian  Foreign Securities Purchases report, which is scheduled for 13:30 GMT.  This report measures that total value of domestic stocks, bonds  purchased by foreigners during November. If the end result will reach  expectations for 10.42B, the CAD may be supported.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last week\u2019s most significant trend in the market was surely the bullish euro. The euro gained no less than 580 pips vs. the dollar, completing its highest weekly gain since May 2009. The euro also strengthened about 400 pips&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-18204","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=18204"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18204\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=18204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=18204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=18204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}