The SPX 500 sits about 4 points lower from Tuesdays close on the S&P 500 as of 8:15am. There isn’t much scheduled on the economic calendar, but the Bank of Canada. Tomorrow we have the 10 year Spanish Bond Auction, which has been the biggest topic of the week.
We could start to see a similar situation with Spain as we did with Greece. If yields start to rise, it will be a sign of fear and we could see risk-off sentiment. The EUR/USD has tested the 1.30 level numerous times, so be careful if your looking for a break to the downside because it is a major support level.
