Thursday, 22 November 2012

Daily Morning Report 23/11/2012 | Forex Trading Analysis

EU leaders just finished first round of negotiations to agree on a budget for next year, still with not a final decision over it, as Germany PM Angela Merkel has said at the end of the meetings, a few hours ago: "I believe that the positions are quite far apart, in certain respects," Merkel told journalists, as Reuters reported earlier.
The Euro traded lower against the British Pound on Friday. Meanwhile, the Euro was up against the U.S. Dollar and down against the Japanese Yen.
The Asian market session was a very quiet one to end the week, since USD traded modestly lower.
Later Friday, Destatis is expected to release the quarterly German GDP report, while the Ifo Institute for Economic Research is expected to release the monthly German Ifo Business Climate report.
The EU Economic Summit is on its 2nd day as the Heads of state are due to meet in Brussels about Spain, Greece, and plan for deeper economic and monetary integration.
Elsewhere, the Statistics Canada is expected to release its monthly Consumer Price Index data.

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