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Merkel and Hollande will discuss plans for boosting growth and competitiveness

FXstreet.com (Barcelona) - German Chancellor Angela Merkel and French President François Hollande will hold a meeting in Paris today in order to work together on a report with recommendations on how to boost competitiveness and growth in the EU.

The German and French leaders will revise the report, prepared by a team of specialists from both countries and laying out the propositions on how to stimulate growth in the Eurozone and promote employment, especially among young people.

At 16 GMT Merkel and Hollande will take part in a press conference during which they will present their conclusins.

Flash: Fed likely to be patient on QE tapering decision - DBS Group

DBS Group analysts believe that regarding QE3, the Fed is likely to be patient in deciding if it should increase or decrease asset purchases.
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European equities rebound from three-week lows

The European markets were able to slow the recent bleeding Thursday, after upbeat economic data from the EMU. Earlier today, the Economic Sentiment Indicator (May) was reported at 89.4, against estimates of 89.0. Moreover, Consumer Confidence (May) yielded a figure of -21.9, matching projections. Finally, Services Sentiment (May) came in at -9.3, besting expectations of -10.8.
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