EUR/USD broke out of yesterday’s (June 27th) narrow range, as the market mood soured prior to today’s EU Summit. The European leaders have plenty of pressing topics to discuss, starting with the alarming fiscal crises in Greece and Spain. As with other grandiose meetings, there is a lot of skepticism if any concrete measures will be announced. There was more bad news as German CPI and employment figures were below the market estimates. There are several key releases today, including a 10-y bond auction in Italy, and US Unemployment Claims.
Here’s an update on technicals, fundamentals and what’s going on in the markets.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-june-28-slumps-as-eu-summit-expectations-fade/"]EUR/USD Slumps as EU Summit Expectations Fade[/URL][/I][/B]
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