Despite the fact that the Spanish authorities have resisted the proposal of three creditors to take financial aid, in the next 2 weeks Madrid will have to resort it. Assessing the overall picture taking shape in the minds of the leaders of the euro zone, the pressure on Spain will not only continue, but to grow, which means that euro zone leaders will not allow the inside of the monetary union of troubled countries remained a "troublemaker" calm because of which will be played permanently crisis in Europe.
Friday's employment data in the U.S. economy, despite its ambiguity, have had severe pressure on the U.S. dollar and it looks like this trend will continue. And today, because of the U.S. celebration of the Columbus Day, activity in the markets will be small and most likely will continue to consolidate.
Statistics today:
Moscow time
11.15 Switzerland Consumer Price Index in September n / a; 0,3% m / m and 0.0% m / m
12.30 Eurozone investor confidence in the medium on October Sentix n / a; -20,6; -23,2
14.00 Germany Industrial production in August n / a; -0,7% m / m, 1.3% y / y
U.S. markets are closed due to the celebration of Columbus Day.
