EUR Trading Outlook (14-03-2011)
The Euro (EUR) surged higher on Friday the start of the Week on Monday on the news that the Eurogroup meeting had agreed to increase the size of the bailout fund and allow new forms of market intervention. This allowed the Euro to rally across the board and help lift most pairs against the Dollar. Overall the EUR/USD traded with a low of 1.3750 and a high of 1.3914 before closing the day around 1.3903 in the New York session. Looking ahead, February Industrial Production forecast at 0.3% vs. -0.1% previously.
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