New Zealand Election Boosts Sentiment, But Europe Remains In Peril

Source: Advanced Currency Markets |

G10 Advancers and Decliners vs USD
GBP 0.36
EUR 0.34
CHF 0.16
JPY 0.13
Thin, holiday liquidity was once again the plague of the FX markets on Friday, allowing EURUSD to drift lower with very little support forthcoming. In spite of a lack of scheduled data releases during the afternoon session, Eurozone sentiment still took a beating with the combination of a poor Italian debt auction, coupled with the news of yet another ratings agency downgrade. This time, Belgium…

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