EUR Trading Outlook (10-12-2010)

The Euro (EUR) fell from day highs above 1.3300 after Ireland was downgraded by Fitch and Standard &amp Poors. The market slid below 1.3200 but when US stocks remained supported by strong data the Euro bounced back to the mid 1.3200 region. EUR/USD traded with a low of 1.3163 and a high of 1.3324 before closing at 1.3240. Looking ahead, November WPI is previously at -0.3%.

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