Forex Flash: European stocks push higher 2-3% - DBS Group

FXstreet.com (Barcelona) - DBS Group analysts note that European stocks were mostly higher by 2-3% yesterday, more than the average 1% rise in US stocks.

Even so, they add that EU stocks are unlikely to hold on to these gains if IFO delivers a back-to-back disappointment today. Conversely, a better IFO would also hold EUR/USD above its 1.2970 support today and return it to its 1.30-1.32 range.