EUR Trading Outlook (19-01-2011)

The Euro (EUR) the market moved higher in Europe in response to very strong January German Zew Survey numbers at 15.4 vs. 4.3 previously. The market traded into the mid 1.3400 region before profit taking in the US session pushed the pair back under the figure. EUR/USD traded with a low of 1.3252 and a high of 1.3468 before closing at 1.3390. Looking ahead, November Current Account is forecast at -11.3bn vs. -9.8bn previously.

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