EUR Trading Outlook (25-03-2011)

The Euro (EUR) was volatile hitting day lows into Europe on the rating downgrades of Portugal and Spanish banks before reversing higher on strong economic data and EU summit optimism. March Service PMI jumped to 56.9 vs. 56.4 previously. Overall the EUR/USD traded with a low of 1.4053 and a high of 1.4222 before closing the day around 1.4180 in the New York session. Looking ahead, March German IFO forecast at 110.5 vs. 111.2 previously.

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