24.10.201412:03:00UTC+00Eur Review: Western Union

Quotes from Western Union:
- The euro was largely flat as caution ahead of Sunday stress tests on European banks was generally offset by early evidence of stabilization in Germany. German consumer moral unexpectedly rose and for the first time in months. The news today followed a Thursday survey that showed German manufacturing surprisingly returned to growth in October. 
- The euro's near-term outlook is seen pinned to the outcome of the bank stress tests. Going into the results, the feeling in the market is that about 10 percent of the 130 banks may fail to pass muster and collectively need about €10 billion in capital to repair their balance sheets so that they could better weather a big economic shock. 
- The big downside risk for the euro would be an outcome above and beyond consensus forecasts. Germany's Ifo business confidence survey looms Monday followed by critical euro zone inflation and unemployment at week's end, Halloween no less.