Forex Flash: Market jitters on German Constitutional Court – TD Securities

FXstreet.com (Barcelona) - Monday's negative sentiment is being driven by the news that it will take the German Constitutional Court until September 12th to issue a ruling on the ESM, which delays the ESM process. Also to be decided is whether the German President can sign the ESM legislation before the ruling on the ESM legality according to the constitution.

"In terms of the week ahead, the highlight will be Bernanke's semi-annual testimony to Congress tomorrow, which will be watched closely for the Chairman's latest thoughts around the possibility of further policy action", wrote TD Securities analysts.