EUR Trading Outlook (08-04-2011)
The Euro (EUR) was surprisingly subdued even as the ECB raised rates to 1.25% with President Trichet signaling a pause for next month. Support under 1.4300 was solid and the market could push higher in coming days if sentiment remains strong.   Overall the EUR/USD traded with a low of 1.4241 and a high of 1.4328 before closing the day around 1.4300 in the New York session. Looking ahead, February trade Balance forecast at 12.5bn vs. 11.8bn previously.
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