Euro on its Marks…Ready to Go?

By Lena Manousarides
03 September 2009 @ 05:20 am EDT

The big day for Europe is here, as ECB will announce its decision regarding the monetary policy. The euro is trading within tight ranges since early morning against its major counterparts and although it is widely awaited that rates will remain unchanged, investors are anticipating Trichet's press conference which may give markets a glimpse of the banks future plans. The latest European data suggest that recovery is a reality in Germany and France and other European countries are getting ready to exit their recessions. However, by any means that does not imply that the bank will start rising their interest rates, as economy is not "out of the woods" just yet.

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