While all the beautiful people are off skiing this holiday weekend in the US, the grunts like us sit here staring at screens and trying to eke out a buck. Opportunity looks fairly sparse today amid the holiday and limited developments on the risk-front. Greece appears to have stabilized for the time being (bond yields steady at 270 bp over bunds) and Dubai is losing interest among traders.
We’ll keep an eye on European shares and US share futures for some insight into today’s limited price action.
EUR/USD is consolidating in the 1.4370 area with Asia buying rumors on dips and selling from the BIS on rallies ahead of 1.4400.