EUR Trading Outlook (22-10-2010)
The Euro (EUR) eased on speculation that the much publicized second installment of Quantitative Easing from the US will not be so desperate. Euro also suffered as Commodities eased reprieving the USD weakness. In domestic news, EZ PMI Manufacturing data was released above expectation, reading at 54.1 for the month of October, up from 53.7. PMI Services on the contrary fell to 53.2 from 54.1. The EURUSD traded with a low of 1.3874 and a high of 1.4050 before closing the day at 1.3923.
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