EUR Trading Outlook (09-02-2011)

The Euro (EUR) was strong as recent selling subsided and buyers returned aggressively to push the pair to week highs just under 1.3700. December German Industrial Output fell -1.5% vs. 0.3% forecast to add to the negative Factory orders reported on Monday. Overall the EUR/USD traded with a low of 1.3571 and a high of 1.3690 before closing the day around 1.3630 in the New York session. Looking ahead, December German Trade Balance forecast 12.1bn vs. 11.8bn previously.

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