EUR Trading Outlook (27-05-2011)
The Euro (EUR) the Euro slumped on talks the IMF was not going to give Greece its June bailout. The market bounced after absorbing the news when most analysts commented it was just a threat to speed up the passing of more austerity measure. EUR/JPY is being whipped around inside the Y114 -116 range. Overall the EUR/USD traded with a low of 1.4066 and a high of 1.4207 before closing the day around 1.4135 in the New York session. Looking ahead, May EU Economic Sentiment forecast at 105.7 vs. 106.2 previously.
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