Daily FX Report Tuesday 9th February 2010

By IBTimes Staff Reporter | February 09 2010 7:29 AM

The Euro's dramatic slump slowed down last night, with some commentators fearing that the currency may be oversold, however data suggests that we could be in for a rocky period. The Chicago Mercantile Exchange showed that net short positions against the Euro rose from 39,500 contracts to 43,700. The Greek Prime Minister has denounced speculators.

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Market News

Jean Claude Trichet is reportedly leaving a Sydney meeting of central bankers early to attend the European Council meeting on Thursday
Greek civil servants threatened to strike on Monday in response to the government cutbacks
Global stock markets have pulled back in reaction to the Greek fiscal crisis, with the Dow now trading below the 10,000 level for the first time since November 4th
Goldman Sachs have cut their view on Greek and Italian banks to Sell
In the UK, traders await the Bank of England's Inflation report, scheduled for release on Wednesday

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