Fri, 23 Jul 2010 17:07:00 +0200

Stress test prelim hitting the wires

FXstreet.com (Buenos Aires) –According to Reuters, EU regulators have checked 91 of the bloc's top banks to see if they hold enough capital to withstand shocks worse than the collapse of Lehman Brothers bank in September 2008, which triggered a near meltdown of global financial markets. Those banks hold 65% of the EU's total banking assets and at least half of banking assets in each of the 27 EU countries. Aggregate results will be published around 16:00 GMT while the individual results of each bank will be release later, at 16:30 GMT.

EUR/USD meanwhile, holds near daily lows capped under 1.2830 since US opening, yet holding above 1.2793 daily low, waiting for the news. Under this last, first support comes at 1.2730, where pair has bottomed the last two weeks. Above mentioned 1.2830, resistances come at 1.2870 (July 19th low and) and 1.2910, July 22nd intraday high.