The breathing space that currency market took on Monday ended with the placement of Spanish debt on Tuesday morning.
Spain managed to sell more debts than the market expected, affirming the idea that the European Union by the means of the European Central Bank should take a number of immediate steps to ease the crisis engulfing the country and several of its neighbors.
The euro with disregard of other leading currencies, took hold immediately, leaving the area of ​​1.2480 / 1.25. The the single currency trend is bullish for the next few hours, in case it manages to overcome 1.2570, which is the maximum time of the day, it will achieve a stronger consolidate movement in that direction.
The European currency is gaining strength against the yen, which remains stationary at 78.60 to the dollar, while it grows against sterling. The British currency was affected by the speculation that house prices in the UK will fall again, which will result in longer the recession on the island. Unusual crossing of EUR / GBP showed an upward movement of 50 points in a few hours, and peaked last August 7.
The euro outlook turns to the positive for the next few weeks when taking into account two important factors: first, the actions taken by the European Central Bank in order to find the solution to the problem of sovereign debt of Spain, Italy, Greece, etc. Furthermore, the expected stimulus to the U.S. economy, about which the Fed is likely to announce during its next meeting in mid-September.

Indeed, the dollar will have a test today: the index of consumer confidence will be released at 10:00 ET, being the most important report of the day.
The Dow Jones index futures operate with a slightly bullish trend, while European stock markets move with no specific direction.
As for other currencies, the Australian dollar is below 1.04, although the short-term trend favors a rebound. The Canadian dollar price range is narrow. The yen is unchanged and the Swiss franc is fully anchored to the euro.
Oil demonstrates a slightly upward trend, and gold is going to exceed $ 1,680 per ounce, in which case, it could hit $ 1700 immediately.