EUR Trading Outlook (25-01-2011)
The Euro (EUR) The Euro hit fresh year highs before profit taking set in but the outlook is growing more bullish as the ECB is seen more likely to raise rates earlier than the US FED. January PMI survey&rsquo s remain strong with Services at 55.2 vs. 54.2 previously and Manufacturing at 56.9 vs. 57.1 previously. EUR/USD traded with a low of 1.3539 and a high of 1.3687 before closing at 1.3640. Looking ahead, February German Consumer Sentiment is forecast at 5.4 vs. 5.4 previously.
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