EUR Trading Outlook (29-12-2010)

The Euro (EUR) The Euro had a volatile day rallying above 1.3200 in Asia before reversing sharply on news that the ECB had left some of its bond purchases unsterilized. EUR/GBP pulled back and so did EUR/CHF which moved below 1.2500. EUR/USD traded with a low of 1.3078 and a high of 1.3191 before closing at 1.3110. Looking ahead, M3 Money Growth forecast at 1.5% vs. 1.0% previously.

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