EUR – Debt And Its Implications

The EUR continued to face pressure on Tuesday in a cautious market. With full volume returning to the marketplace as traders from the U.S. and U.K. made their way into offices, the Single Currency has found that it still faces the wrath of many questions from international investors who have not been convinced by many of the pronouncements from European governments and officials. In essence, the blizzard of pronouncements from various nations and autocrats has proven to have brought upon even greater concern, because many of the proposed plans do not exactly follow a cohesive formula, and in fact show that there is disagreement among important players in the Sovereign Debt picture. German Retail Sales were released yesterday and they actually came in slightly better than expected, but the gain of 1.0% was not much to write home about. Today will be relatively quiet with statistics from the E.U. and the crux of attention will be on the debt situation and the implications that this poses for the prospects of growth on the continent. The EUR continues to face headwinds and is near the lower end of a weak range versus the USD.

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