EUR Trading Outlook (23-11-2010)
The Euro (EUR) initial enthusiasm for the bailout plan faded into doubt during the European session as the Irish opposition called for an election in response to the Government& rsquo s handling of the debt crisis. Focus is also spreading to Portugal and Greece and debt crisis contagion. EUR/USD traded with a low of 1.3575 and a high of 1.3788 before closing at 1.3620. Looking ahead, German Q3 GDP forecast to be unrevised at 0.7%. November German PMI Manufacturing is forecast 56.8 vs. 54.8 previously.
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