Yesterday’s EU summit proved to be eventful with 25 out of 27 EU states agreeing to the “fiscal compact”. Additionally, reports suggesting progress on Greek debt-swap talks have also aided the “risk on” trading sentiment in currency markets today. However, an announcement is unlikely to be made until negotiations on a new loan package are finalised and will keep markets fixated to headlines emerging from Greece.
At home, data released earlier today indicates an improvement in consumer confidence for January, hinting towards a continuation of the festive mood after Christmas.
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