EUR Trading Outlook (01-03-2011)

The Euro (EUR) came under pressure after topping out early in the day near 1.3850 to grind lower with US stocks. February German Unemployment Change at -52k vs. -15k forecast. Overall the EUR/USD traded with a low of 1.3762 and a high of 1.3856 before closing the day around 1.3770 in the New York session. Looking ahead, January PPI is forecast at 1.0% vs. 0.8% m/m.

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