The EUR continued to trade in range on Friday as investors seemingly refused to push the currency in any particular direction. Uncertainty remains a focal point for the European Union Sovereign Debt market and questions still remain unanswered regarding long term solutions. News came out over the weekend that Greece will attempt to offer new debt issues in the coming month, which could send a shiver through investors. Data from Europe will be relatively quiet today with M3 Money Supply and the Germany Prelim CPI figures. Europe will remain rather tranquil with releases most of the week offering mainly inflation and employment numbers. There has been no fundamental change in Europe the past few weeks, and although we have seen the EUR trading with stability, traders remain a nervous group who appear to be taking advantage of prevailing ranges.
Written by bforex.com