Market Overview

Week in FX Europe-The EURO's Teflon Capabilities


Today's “Teflon” Currency, or the EUR to some of us, remains unaffected by any negative data and continues to climb as we go deeper into the holiday season. Friday's mid-morning North American bounce was fuelled mostly by a London fix and some year-end demand for the single unit. It seems that this market has chosen, once again, to focus on positive Chinese manufacturing PMI data to maintain this elevated risk sentiment.

Bernanke and his fellow policy maker's actions mid-week have, so far, given the green light to renewed risk sentiment heading into the final week of reliable trading for 2102. Currently, there are probably only two scenarios that could possibly reverse what's taking place, the first being a disastrous fiscal cliff negotiations and the second being another implosion in Europe. The odds on either happening are not getting any shorter!








  • GBP Core Consumer Price Index
  • GBP Bank of England Minutes
  • NZD Gross Domestic Product
  • JPY Bank of Japan Rate Decision
  • EUR German Producer Prices
  • USD Gross Domestic Product
  • GBP Gross Domestic Product
  • CAD Gross Domestic Product
  • CAD Consumer Price Index





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