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Forex Flash: Spain remains on the edge - BBH

Brown Brothers Harriman analysts note that Spain´s situation remains notably precarious, with EC calculations showing Spain as having ran a budget deficit of 10.2% of GDP last year, the most in three years.

They comment that it projects that a deficit this year of 6.7%, which seems a Herculean task to meet. They finish by writing, “There has been some suggestion that Spain could be given more time to reach its deficit targets, but given the lack of progress last year and some backtracking this year, it too may undermine credibility.”

Forex: EUR/USD sidelined at 1.3160 after Fed officials' speeches

The EUR/USD is trading sidelined to 1.3160 which, according to Windsor Brokers analyst Slobodan Drvenica, could confirm a bearish breakout in case of a break below. The pair is under pressure on US Fed Powell and Rosengren speeches.
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Forex Flash: US Sequester to hurt by 1.5pp 2Q GDP growth; EUR/USD at 1.30 in 1-month - Bank of America

The so-called sequester in the US is supposed to be a bad outcome would hurt economy in the short term. US president Barack Obama is asking for a compromise but Republicans are looking for further cuts and austerity measures.
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