www.bforex.com: Markets Turn Cautious

The EUR got stronger on Wednesday, this before the E.U. emergency conference begins today that can try to structure the latest bailout package for Greece.

The summit has to be focus for investors who will be tuning in for indicators that a restructuring of Greek debt is currently being talked over.

Existing Home Sales from the U.S. were unfavorable yesterday and Wall Street reacted with a mixed day. Today the weekly Unemployment Claims and Philly Fed Manufacturing Index statistics will likely be posted.

PMI facts will come from Germany and France today from the Manufacturing and Services sectors. The U.K. will show Retail Sales.

Tomorrow is going to be somewhat silent for data, but investors will probably be trying to read between the lines to see if the E.U. can create more than mere ‘talk’ regarding its debt situation.

A ‘Confidence Game’ will be played by Europe today and tomorrow and it will depend on traders to evaluate the outlook.