The candlesticks on the daily chart of EUR/USD are beginning to look a lot like Cyclopip’s favorite striped Christmas sweater! Thanks to risk appetite, the euro was able to take home the bacon, ending the day with a 47-pip gain at 1.4228.
Risk appetite picked up yesterday with the rally in equities taking centerstage. It also might have helped that German Chancellor Angela Merkel announced the she would meet with French President Nicolas Sarkozy to address talks about the debt contagion spreading to France. Perhaps it gave investors hope that policymakers would soon come up with concrete and long-term solutions to address the debt crisis.
With that said, make sure you gauge [market sentiment](http://www.babypips.com/school/what-is-market-sentiment.html) in today’s trading, ayt? If there are enough good vibes left, we may just see the euro end the week with a win.
Also, make sure you keep tabs on the roster of economic reports we have on tap from the [Euro Zone](http://www.babypips.com/school/euro-zone.html) today. At 5:30 am GMT, the French preliminary [GD](http://www.babypips.com/forexpedia/Gross_Domestic_Product_(GDP))P report for Q2 2011 will be released and it is expected to print a 0.3% uptick. Meanwhile, the country’s [CPI](http://www.babypips.com/forexpedia/CPI) report for July is seen to come in at -0.2%.
Then at 6:45 am GMT, France’s preliminary non-farm payrolls report for is anticipated to show that the number of employed people grew by 0.2% during the second quarter of the year.
Lastly, at 9:00 am GMT, we’ll get dibs on Euro Zone’s industrial production report for June. Analysts have predicted that the report would show a 0.1% uptick.