News Headline Summary

German Chancellor Merkel says reforms in Europe is starting to take effect

Says:

- More needs to be done to oversee financial markets.
- Expects more difficult economic environment 2013.

Reaction details:

- 3 minutes after, EUR/USD moved higher by 11 pips from 1.3214 to 1.3225, trades 1.3224 (+7 pips) last.

Print 23:07, 30 Dec 2012 - Economic commentary - Source: Newswires