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EUR Trading Outlook (24-11-2010)

The Euro (EUR) focus on Ireland continued with German Chancellor Merkel saying the Euro is in an &amp lsquo exceptionally serious&amp rsquo situation. German GDP was confirmed at 0.7% Q/Q. EUR/USD continued to be under pressure falling over two big figures on debt contagion fears. EUR/USD traded with a low of 1.3360 and a high of 1.3616 before closing at 1.3385. Looking ahead, November German IFO Business Climate is forecast at 107.4 vs. 107.6 previously.

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