Forex: EUR/USD looks to Ecofin for a catalyst – Danske Bank

FXstreet.com (Barcelona) - The bloc currency has bounced off session lows below the 1.2940 mark on Monday, as risk-on trade remains subdued. Almost non-existent docket is helping in the downside, with the Ecofin meeting grabbing all the attention against a backdrop of rumours involving a Spanish bailout.

Senior Economist Frank Hensen at Danske Bank argues "We think there is more upside to EURUSD this week, not least as the latest IMM data showed that the market is still speculative short EURUSD". The economist remarks that an eventual call for financial aid by Spain would be euro positive, removing some tail-risk from the single currency.