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EUR Trading Outlook (17-05-2011)

The Euro (EUR) the EUR/USD received a welcome boost from Chancellor Merkal who stated she was not in favor of any European country restricting debt. This helped douse concerns Greece would have to rework it&rsquo s mountain of debt in coming months. Overall the EUR/USD traded with a low of 1.4047 and a high of 1.4246 before closing the day around 1.4150 in the New York session. Looking ahead, May German ZEW survey forecast at 87.5 vs. 87.1.

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