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1. FX markets are waiting for the next Euro summit on Wednesday. At that meeting concrete decisions must be made, according to the EZ leaders.
Many disputes still remain between Germany and France, but they said some progress was made. EUR already spiked above 1.3950 today on the hopes of further progress.
2. Gold was well supported close to $1605-the lower bound of the latest gold range. May advance to test higher limits of the range again, especially if Euro Zone provides no concrete steps on Wednesday.
3. Tomorrow: interest rate decision in Canada and consumer confidence in the U.S.
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