EUR Trading Outlook (05-12-2011)
The Euro (EUR) the market is looking towards meetings this week between France and Germany as they push forward towards a new EU fiscal union that might provide a longer term solution to the Debt Crisis. Reports over the weekend that the ECB was preparing a EUR1 trillion cash infusion scheme helped the pair open stronger on Monday as did the announcement of Italian austerity measures. Looking ahead, October Retail Sales forecast at 0.1% vs. -0.7% previously.
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