European FX Daily

* Stronger equities and a weaker USD in Asian trading
* RBA minutes solidly in line with the monetary policy statement
* Spain to sell bills today

What to watch for today

EUR: Spanish bills. The main event on today’s sparse data calendar is the issuance of 364- and 546-day bills by Spain. We expect the event to have very limited market resonance, given the short tenor of the offerings and recently well-behaved price action in peripheral sovereign markets. The spotlight in the near term will remain on the European flash PMI releases on Thursday on the data front and on Greek PM Samaras’ meetings with European officials later in the week.

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