Another day of rather tight range trading met the EUR on Wednesday. Cautious trading has been a highlight of the past two days. The German Prelim CPI numbers met expectations head on yesterday with a result of 0.2%. Today the German Unemployment Change numbers will be brought forth and tomorrow Germany will publish it Retail Sales figures. In the short term it appears that the EUR may actually trade under a dollar centric mode. For the time being it appears that questions regarding the Sovereign Debt crisis and concerns regarding austerity measures and growth have been digested by traders. The EUR has enjoyed a gain in value the past couple of weeks and going into these two last days before the weekend could see range trading be the prevailing theme.
Written by bforex.com
