Volatile trading left the euro mostly lower against the majors, as EURUSD failed to break yesterday’s highs. In economic news, European confidence in the economic outlook increased in August, as was reflected in the German IFO and ZEW survey. Indeed, an index of executive and consumer sentiment in the region rose to 80.6, the highest since October, from 76. The improvements suggest that spending on the part of businesses and consumers should follow suit, though this has not been the case quite yet. Next Week, the European Central Bank is anticipated to leave rates unchanged at 1.00 percent at 7:45 ET. Where the currency ends the day, though, may have more to do with what ECB President Jean-Claude Trichet says during his post-meeting press conference at 08:30 ET. Traders will likely focus on any comments regarding the future of interest rates in the region, including whether 1 percent should be considered the “floor.” That said, the ECB will also be announcing new economic outlooks for the Euro-zone, and if we see any sort of revisions, the euro will likely act accordingly.