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EUR Trading Outlook (06-05-2011)

The Euro (EUR) when the ECB left out the term &amp lsquo vigilance&amp rsquo the EUR/USD instantly fell through 1.4700 and continued to slump towards 1.4500 as stocks/commodity selling adding to the downside pressure. The ECB held at 1.25% as forecast but the market now doesn&amp rsquo t see a rate hike in June as a possibility. Overall the EUR/USD traded with a low of 1.4512 and a high of 1.4900 before closing the day around 1.4550 in the New York session. Looking ahead, March Industrial Output forecast at 0.5% vs. 1.6% previously m/m.

Back to EUR Trading Outlook Archive

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