17th August 2011
European Markets were on tender hooks yesterday as Eurozone GDP figures were weaker than surveyed, however the real market mover was the trade balance data which showed negative results. This only confirms the slow down which is happening world wide. Germany the country which makes most of its GDP from exports and therefore props up most of the eurozone with this will not be relishing this depreciation in trade.
The 2 premiers from France and Germany met yesterday and the word on everyones lips was "eurobond." This was infered as a instrument which could be used further on but at the moment will not be used. The EURO rallied for a short period before selling off and settling just below the 1.4400 handle.
Markets are set for another turbulent week and sitting it out doesn’t seem such a bad idea.
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