EUR Trading Outlook (03-08-2011)

The Euro (EUR) Italian debt was in focus we the yield on 10yr bonds continuing to surge higher with investors fleeing the potential next domino to fall. The US stock weakness added EUR/CHF and EUR/JPY pressure and the major slipped towards 1.4150. The EUR/USD traded with a low of 1.4150 and a high of 1.4284 before closing the day around 1.4180 in the New York session. Looking ahead, June Retail Sales forecast at 52.9.

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