EUR Trading Outlook (21-12-2011)

The Euro (EUR) the market was caught short yesterday with a positive Spanish bond auction the catalyst for a surge to 1.3180 in Europe. Today the ECB will launch a new lending facility that may further decrease pressure on European banks and Sovereign bonds and encourage the market to further gains. December German IFO at 107.2 vs. 106 forecast. Looking ahead, December Consumer Confidence previously at -20.4.

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