Data/Event Risks: ALL: The risk remains of more comments from officials ahead of the EU summit which starts tomorrow. Generally (as always) this is not seen as a game-changing event for the euro. USD: The housing data (housing starts, building permits) should not be a major risk, this generally having to be very out of line with expectations to impact the dollar. GBP: The minutes to the MPC meeting have the potential to soften sterling if there are more signs that members are looking to extend QE; the current program is coming to an end next month. Inflation could well be heading higher short-term however. Idea of the Day So, the euro was higher because Spain thinks that the mere presence of a credit line will be enough to restore market confidence and push borrowing costs down further. This seems to be like getting an overdraft facility with a new bank and expecting to get better terms with your current bank. Such a credit line (part of ECB agreement last month) can, in theory, last only a year. The IMF/EU will demand austerity which will continue to bear down on the economy. It looks a stretch to think this arrangement will allow Spain to turn a corner. The euro will realise at some point, but not right now it seems. Latest FX News EUR: Firmer tone from Tuesday is holding as Moody’s maintains Spain’s credit rating at investment grade, with hopes remaining for precautionary credit line which spurred euro higher yesterday. USD: Latest presidential debate seen initially as far closer than the first in which the Republican Romney was considered to be ahead. AUD: Pulled higher, but dragging behind the gain seen on the euro. Uptrend on EUR/AUD remains intact, trend-line support coming in at 1.2624. CNY: Another high for the Chinese currency overnight, with USD/CNY moving down to 6.2530. Markets are gearing up for the release of GDP data tomorrow, expected to slow to 7.3%. CAD: EUR/CAD surging higher yesterday, now at a 3 ½ month higher and not far from the 1.30 level last seen in mid-June. Canadian central bank governor sounded bearish on growth yesterday. FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Forex News Today: Daily Trading News share Read Next Expectations for Spanish Aid Request to Keep Euro Bid Matthew Lifson 10 years Data/Event Risks: ALL: The risk remains of more comments from officials ahead of the EU summit which starts tomorrow. Generally (as always) this is not seen as a game-changing event for the euro. USD: The housing data (housing starts, building permits) should not be a major risk, this generally having to be very out of line with expectations to impact the dollar. GBP: The minutes to the MPC meeting have the potential to soften sterling if there are more signs that members are looking to extend QE; the current program is coming to an end next month. Inflation could… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.