EUR Trading Outlook (08-03-2011)
The Euro (EUR) broke through 1.4000 in Europe before finding resistance and reversing as Greece was downgrades and stocks turned south in New York. March EU Sentix improved to 17.1 vs. 16.8 previously. The market is still cautious on buying the Euro too aggressively with Portugal& rsquo s bond yields remaining near highs. Overall the EUR/USD traded with a low of 1.3954 and a high of 1.4038 before closing the day around 1.3970 in the New York session. Looking ahead, January Industrial Orders forecast at 2.4% vs. -3.4% previously.
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