Euro zone continues to lag behind the world in economic activity. this economic inertia will weigh upon Euro. Sharp contrast between american recovery and European recovery can bee seen in Euro/USD. Perhaps this economic recovery is also lead to debate on Quantitative Easing Vs Austerity
The spreads have been widening again, as Brent contniues to trade on premium as Iran crisis refuses to settle down . The Spread might hit the low of 19 and then 23 if the volumes continues to shift from WTI to Brent