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EUR Trading Outlook (04-05-2011)

The Euro (EUR) found support in Europe after hitting day lows near 1.4750 but the market was unable to hold onto the bounce when US stocks turned south and commodity losses piled up. March PPI increased at 0.7% vs. 0.6% previously. Overall the EUR/USD traded with a low of 1.4755 and a high of 1.4891 before closing the day around 1.4815 in the New York session. Looking ahead, March Retail Sales forecast at 0.1% vs. -0.1% previously.

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