The EUR gained significantly enough on Tuesday to put itself at the strongest points of its short term range against the USD. This occurred even as the German ZEW Economic Sentiment reading proved more disappointing than anticipated with an outcome of 21.2. Risk appetite in international bourses, and perhaps the desire to believe that the E.U. and ECB are working towards fundamental changes in managing debt, appears to have brought out EUR backers. Europe will present Industrial Production and CPI releases today. The crux of the matter for investors will remain sentiment generated around the financial crisis that has shadowed Europe. Certainly questions remain tough, but for the moment market participants have seemingly digested their fears. Thursday and Friday will be relatively light for data from the E.U. meaning that risk sentiment winds will affect the EUR.
Written by bforex.com
