Tuesday was a light day of releases from the European Union and the EUR was able to turn in stable trading. Today the E.U. will release its Final GDP and a small gain of 0.2% is the estimate. Because this is the final report for the quarter, no surprises are expected from this data, but if a ‘new’ number were to emerge it could cause chaos throughout the market. Also Germany Factory Orders will be released today and the figure anticipated is 0.5%. Having said this, investors will have their eyes on the budget information that will be coming from Germany today and they will be keen to look at ‘austerity’ measures the nation will enact. Also the E.U. is set to release some its methodology on how it is undertaking its ‘stress tests’ within the banking sector. Tomorrow the ECB will hold their monthly policy meeting and given President Trichet’s comments earlier this week, his press conference is sure to be an ‘optimistic affair’. The question is what perceptions investors will take away from today and tomorrow and how this will affect risk sentiment.
Written by bforex.com
