The euro has dropped sharply after strip loss the day before
* the Spanish bond auction looked at the weakness of the sight of signs
* the European central bank is expected to keep interest rates unchanged when 11 GMT 45
Williams Virginia
The xinhua news agency London May 3 (Reuters)-the euro dollar Thursday steady, cut a sharp fall in the previous day, but very vulnerable to the European central bank's decisions on interest rates and the Spanish bond auction set to show how the markets countries worry about economic issues.
In Barcelona before the central bank, Spain will sell 250 million euros worth of three years and five-year bonds fell for the first time since the recession, its credit rating drop, test investor appetite.
Last year at $1.3153 to the euro, on Wednesday to wander in the 10 th $1.3121 hit low on the back of the line of sight of weaker than expected eurozone manufacturing data and rising unemployment Numbers.
The surroundings 100 days moving averages $1.3118, $1.3103 on April 23, the fallen directly support.
", HSBC Daragh Maher said foreign exchange strategists "temptation is to buy euros, because we saw yesterday. Spain's auction results may cause some ripple, but I think we will mainly in the European central bank holding pattern.
Most analysts expect the Spanish smooth auction, due to its relatively small size, although higher borrowing costs more than, and to maintain the pressure of decision makers, do more shielding the eurozone member countries of the debt.
The European central bank is expected to remain at 1.0% interest rates unchanged. Market participants will pay more attention to the chairman Beijing time Della 27 press conference, his voice is expected to increase cautious attitude but resist calls for restart the bank's bond purchase program, to stop the surrounding debt production rose.
"He also urges HSBC said," I'm worried about the European central bank is market edge to a gentler Della achish, but he won't meet those expectations and a disappointment. People don't fully know how to play.
Though it is not very mild higher than expected, and no further Della liquidity or buy bonds tips, may make some market participants buying euros and other investors worry that a debt crisis will worsen with the European central bank to take action, and the sale of a common currency, said he also urges.
Long euro cash
Market positioning, can increase the risk of against the euro, major Japanese bank traders said, in view of many market participants bearish bets after euro dollar bullish put forward, the U.S. federal reserve board chairman Ben bernanke last week suggested that the possibility of further easing monetary policy.
"We can see a little more shortcomings (euro) with positioning the same score a storehouse, traders said."
The pressure on the euro dollar index rose to 79.150 see, utting further from two months Tuesday's 78.603 detection distance slot. The yen to haven, closed up 0.1% to $80.24 yen, higher than the Tuesday for 10 weeks 79.64 low holdings.
Market personage points out, in below $79.00 yen down may make short yen back to fill, long-term player, and promote further dollar decline. Support an offer of $be cited, but in 79.00-79.50 area.
New Zealand yuan against the U.S. dollar after the fall, and the unemployment rate to jump in the local market price cut rate of small chance at this year's dramatic turn, from a few weeks ago. Market suggest that the reserve bank of New Zealand cut in the next policy meeting, about 40% of the opportunity.
New Zealand dollar fell $0.8040 against the U.S. dollar as much as possible, low late in January of last year to see. This is the last day dropped 0.7%, to $0.8049.




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