EUR Trading Outlook (27-04-2011)

The Euro (EUR) heavy buying in Europe and US session ended speculation that the USD rout would ease into the FOMC decision. 1.4700 was taken out in late US trade with the market also support on heavy EUR/GBP buying towards the 0.8900 level. Overall the EUR/USD traded with a low of 1.4492 and a high of 1.4715 before closing the day around 1.4690 in the New York session. Looking ahead, February Industrial Orders forecast at 1.0% vs. 0.1% previously.

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