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EUR Rises on All Fronts

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The EUR experienced one of its most bullish trading days in recent weeks on Thursday. The EUR made significant gains against many of its most traded currency pairs, such as the GBP, JPY and USD.

The euro zone has a few reports scheduled for today but most of the attention will be on the EU Economic Summit meeting. Depending on the statements being released from the meeting of European Union countries, it may be difficult to gauge the direction of the euro and traders should be aware of the heightened volatility in today's market.

Here is a roundup of today's leading events

9:00 GMT-Germany Ifo Business Climate

This monthly report reflects the level of composite index based on surveyed manufacturers, builders, wholesalers, and retails. This indicator always provides for extreme market volatility in the major currency pairs. If the results turn out to be lower than forecasts, then the EUR may record a fairly bearish session in today's trading.

12:30 GMT- U.S. Final GDP

The Final GDP report measures the change in the inflation-adjusted value of all goods and services produced by the economy. This report has a direct correlation with the strength of the US economy. If the end result will beat expectations for 3.0%, the USD might we strengthened as a result.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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