EUR Trading Outlook (30-11-2010)
The Euro (EUR) a rally in late Asia to 1.3300 was the highs of the day after which the market sold heavily on risk aversion and debt contagion risk. The lack of a resolution to the crisis if flaming the fires with fresh developments mostly negative. EUR/USD traded with a low of 1.3063 and a high of 1.3230 before closing at 1.3120. Looking ahead, November German Unemployment Change is forecast at -20k vs. -3k previously. November Inflation Flash forecast 1.9% vs. 1.9% y/y.
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