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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