EURUSD Up Modest +30 Pips Despite Latest Weekend Rumormill
Our guess is they were hoping for a little more than a 30pip lift out of the gate...Have no fear though...
*SCHAEUBLE SAYS HE'S `CONFIDENT' 'EURO CAN BE SAVED
*SCHAEUBLE SAYS EURO WILL BE `THE STABLE WORLD CURRENCY'
Unfortunately, once the market realizes just what the forward sovereign issuance calendar looks like, especially with a barrage of bond auctions from freshly downgraded Belgium tomorrow, not to mention one of the heaviest new issuance weeks until the end of the year, we doubt this + print will stay for much longer:
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