By FX Empire.com
The EUR/USD is set to start another week with the lack of major fundamentals as the focus remains on the euro area and how the leaders are moving to contain the debt crisis.
Monday will see the market open to the remarks from the G20 finance chiefs hoping that they offer any insight on the path the leaders are considering containing the debt crisis in the euro area and place a strong firewall around Greece to prevent the contagion risk.
Last week the euro ended with strongly weekly gains with the eased woes over the outlook for the euro area and optimism that the leaders are not on the right track and can contain the crisis, especially with the bank recapitalization agreed to be part of the plan.
This week the focus will start to shift from optimism to volatility as the market eyes the October 23 summit and major data and earning will direct the attention to the sluggish global recovery.
The United States will start the week at 12:30 GMT with the Empire Manufacturing index for October which is expected with improvement to -4.0 from -8.82.
At 13:15 GMT the Industrial Production for September is due and expected to hold on the month with 0.2% gain and capacity utilization to move slightly higher to 77.5% from 77.4%.
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