EUR Trading Outlook (01-04-2011)
The Euro (EUR) traded above 1.4200 on continued strength with sentiment towards the single currency still very strong. EUR/GBP hit multi-month highs above 0.8850 before settling slightly lower. Weak February Retail Sales at -0.3% vs. 0.4% previously. Overall the EUR/USD traded with a low of 1.4115 and a high of 1.4234 before closing the day around 1.4160 in the New York session. Looking ahead, March Unemployment Rate forecast at 8.9%.
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