EUR Trading Outlook (08-11-2010)
The Euro (EUR) fell back from month highs in Europe even before US Jobs numbers extended the Euro&rsquo s move lower. The pair closed near 1.4000 supports and a key pivot level with the market still hesitant on pushing the Euro higher with lingering European Debt concerns and US QE2 already priced in. EUR/USD traded with a low of 1.4024 and a high of 1.4027 before closing at 1.4035. Looking ahead, German Trade Balance is forecast at 11.9bn vs. 11.7bn previously. Industrial Output is forecast at 0.5% vs. 1.7%.
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