The EUR has enjoyed a few trading sessions with relative stability and on Friday it was able to hold onto its gains against the USD. The Single Currency still finds itself at the lower depths of its range against the Greenback, but nevertheless may have found some backers as the fears of an imminent collapse of Sovereign Debt in Europe has subsided. The EUR finds itself having been able to withstand the lower end of its range and appears for the time being to be in a position that will allow traders to test its fair value. Industrial Production numbers will be released from Europe today and are expected to post a gain of 0.7%. Tomorrow the German ZEW Economic Sentiment report will be published and this will be followed on Wednesday by European CPI statistics. Trading in the EUR closing out last week suggested that for the time being the worst of the crisis may have been digested and this was reflected among the European bonds which showed differences between the Spanish and German debt retracing. The EUR may find itself within a curious light going into this week’s trading and for those with risk appetite could provide an interesting ride.
Written by bforex.com