Warm Weather Could Help Europe Avoid A Recession More mixed trading on Thursday has seen the S&P500 unwind Wednesday's modest gains and the index remains stuck in the persistent range between 3763 and 3890. Currencies are also mostly range-bound and while the USD is higher on Thursday, it is trading at lower highs with Tuesday's high.  Notable relative strength has helped the FTSE stay positive, helped on by a rebound in oil. Likewise, European indices have outperformed this week and throughout December and although the Euro has stalled against the USD, it has also performed well. There is growing optimism that Europe can avoid a deep recession and may not even contract if it can make it through winter without more slowing in the economy.

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