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Euro little changed in a quite Monday trade

Monday, Nov 27 2017
Euro little changed in a quite Monday trade

There were no data releases from Eurozone on Monday. Euro surged this morning still supported by rather good German Business Confidence released on Friday, however, pair found plenty of resistance above 1.1950 area and pulled back slighlty. The drama in German politics failed to weigh much on the euro,  but many see the possibility of a new Grand Coalition as constructive for the single currency.  The head of the SPD Schulz will meet with Merkel on Thursday.  It is not clear the price Schulz will demand. 

The SPD has a party conference December 7-9.  Schulz, who is supported by the left-wing of the party, was under pressure following the poor campaign and results in the September election.    The FDP, which had imploded during the European crisis, has returned to parliament, but only time will tell whether it made a good strategic decision to abandon the coalition talks. 

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