On Wednesday the Euro/Dollar traded within nearly 100 pips range. The European appreciated from 1.2665 to 1.2757 yesterday, matching the positive Interbank sentiment projection, at around +6%, closing the day at 1.2719. This morning trading is neutral for now. On the 1 hour chart trading is still within wide range,

U.S. Dollar Trading (USD) risk was put on after concerns about the Eurozone faded on solid auction from some European Countries and US stocks rallied new stimulus proposals from Obama ahead of the US Mid-term elections. In US stocks, DJIA -10378 points closing at 10387, S&P +7 points closing at

The main economic event today is the Bank of England’s interest rate announcement, at noon. We expect both the level of the bank rate and the size of the QE programme to be left unchanged at 0.5% and £200bn, respectively. However, the recent run of poor data, such as the