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Aug 10 Auction Size Announced

US 10YR FUTURE TECHS

(U1)‌‌ Top End of Range

EURO SUMMARY
EURO SUMMARY: Eur/Usd: Asia open $1.1761, range $1.1753-70. Europe open $1.1758,
range $1.1756-75.
* Late NY rally saw rate pop to $1.1793 on US tax reform doubts then fell back
to $1.1758 on GOP favoring Taylor for Fed Chair. 
* Rate recovered to $1.1770 early Asia then eased off to $1.1753 before it
settled between $1.1754/64 through to Europe.
* Lack lustre challenge on both sides of the Asian $1.1753-70 range seen in
early trade.
* Rate managed to challenge $1.1770 following release of stronger than forecast
Germany Ifo data.
* Rate eventually lifted on to $1.1775 following general pressure on Jpy.
* However, rally quickly faded as rate drifted back to familiar level between
$1.1760/65. 
* Focus is clearly on Thursday's ECB meeting with QE tapering announcements
awaited.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com