EUR Trading Outlook (15-11-2010)
The Euro (EUR) broke below 1.3600 at the height of Irish concerns going into the European session but when the Irish FM denied asking for help the pair staged a major rally nearly 200 pips. Q3 GDP was near expectations at 0.4% but the September Industrial Production printed weak numbers at -0.9% m/m. EUR/USD traded with a low of 1.3575 and a high of 1.3777 before closing at 1.3699. Looking ahead, September Trade Balance is forecast at 0.3Bn vs. -4.3bn previously.
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