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EUR Trading Outlook (10-03-2011)

The Euro (EUR) was stable finding support but focus still remains on the smaller European countries debt ahead of the EU summit this weekend. Portugal remains adamant that they do not need a bailout but the market is continuing to push yields higher. Overall the EUR/USD traded with a low of 1.3854 and a high of 1.3943 before closing the day around 1.3905 in the New York session. Looking ahead, January German Trade Balance forecast at 13.2bn vs. 14bn.

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