EUR Trading Outlook (01-10-2010)
The Euro (EUR) news that the Anglo Irish Bank bailout was not as bad as feared allowed Irish Bond Yields to fall and offset the negative news of Spain&rsquo s Downgrade. September German Unemployment fell 40k and helped underpin a move higher in Europe before month end volatility was seen in New York. EUR/USD traded with a low of 1.3558 and a high of 1.3685 before closing at 1.3640. Looking ahead, German Retail Sales are forecast at 0.4% vs. -0.3% previously m/m. Also released, August Unemployment Rate is forecast at 10.0% vs. 10.0% previously.
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