French and Italian Industrial Production numbers had mixed results Monday, but this was hardly the reason for the decline in the EUR against the USD. The Single Currency has enjoyed dollar centric generated gains even as many questions persist about the European economy. Ireland and Greece continue to face a large amount of skeptics who are concerned about their various financial dilemmas. But it may be too early to call the recent strong run of the EUR over, because simply put the focus on the Federal Reserve in the U.S. has likely not been put entirely to rest. The recent failure of the G-7 to create any type of accord regarding currency manipulation will not go unnoticed by investors either. Germany will release inflation numbers today with the Final CPI and WPI reports. Also, ECB President Trichet is scheduled to speak in New York. It will stay a relatively quiet week of economic data from Europe and trading sentiment is likely to remain reactionary.
Written by bforex.com