Angela Merkel

Euro is finding support in forex trading today, mostly due to German Chancellor Angela Merkel's remarks about the bailout funds. Merkel expressed the possibility that bailout funds in the eurozone could be combined in order to better help shore up the financial firewall that would keep countries from succumbing to sovereign debt.

Greece remains on the edge of disaster, ready to slip into default if eurozone leaders can't come up with a solution to the current problem.

Euro dropped below the 1.2700 level earlier in trading. However, euro is back above that level, and trying to make up some lost ground.

No major announcements came out of today's earlier meeting between Angela Merkel and Nicolas Sarkozy. As a result, the euro is paring some of its gains.

The euro is rallying in forex trading today, heading higher as hopes for the eurozone improve. EUR/USD is moving higher on the expectation that a solution to the current problems in Europe is coming.

The euro continues to show weakness in forex trading on the currency market today. Even though U.S. stock markets are closed, other financial markets are open, and the FX market continues to see trading today.

German Chancellor Angela Merkel is talking tough on euro zone debt today, insisting that investors also help pay for future crises. Her tough talk is one of the reasons that debt ridden euro zone countries have bond yields soaring. 

There is big news all over in Europe today, shaking up the euro in forex trading and sending it lower across the board. Trade data and CPI data are in, but that is only part of the picture right now.