Has the euro rally begun? With both EUR/USD and EUR/JPY completely beaten to near death last week, can the currency possibly fall any more? The answer of course is yes but it appears that a fairly significant rally developed overnight while we Americans were sleeping. Hopefully it will hold through the day and continue into the week. European governments are moving rapidly to restructure debt and improve currency flow.
With very little money moving news early in the week, Thursday appears like the big day with interest rate decisions from European Central Bank and the Royal Bank of England along with Retail Sales and Initial Jobless Claims from the United States. Expect a ton of volatility Thursday as we ease through the rest of the week.
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