EUR Trading Outlook (05-04-2011)
The Euro (EUR) kept to a small range consolidating the gains on Friday ahead of the key ECB meeting on Thursday. February PPI was still high at 6.6% y/y. Also of note was the drop in EU investor confidence to 14.2 vs. 17.1 previously. Overall the EUR/USD traded with a low of 1.4191 and a high of 1.4270 before closing the day around 1.4220 in the New York session. Looking ahead, February Retail Sales forecast at 0.6% vs. 0.7% previously y/y.
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