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EUR Trading Outlook (13-04-2011)

The Euro (EUR) reversed from day lows in Asia under 1.4400 to rally back above 1.4500 in Europe. Traders ignored the risk aversion and reacted to comments China would be supporting Spanish debt. German ZEW fell 6.5 pts to 7.6 in Apr. Overall the EUR/USD traded with a low of 1.4376 and a high of 1.4521 before closing the day around 1.4480 in the New York session. Looking ahead, February Industrial Production forecast at 0.7% vs. 0.3% previously.

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