In today's trading the euro has come back as risk aversion abated after US stocks pared their losses in yesterday afternoon's trading. Also, German consumer confidence, as measured by Gfk, was shown to have improved this morning, and the rate at which German unemployment is increasing also slowed. Later today Consumer, Economic and Industrial Confidence data is released in the eurozone, whilst in the US, Durable Goods Orders, Initial Jobless Claims and New Home Sales figures are announced. Also taking place in the US today is the release of Barack Obama's budget report, which will give investors a clear indication about the future spending plans of his administration.
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