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EUR Trading Outlook (02-08-2011)

The Euro (EUR) the positive mood from Asia waned in Europe and turned to heavy selling in both stocks and the EUR/USD. June EU Unemployment remained at 9.9%. Italian Debt is in focus after the downgrade of some investments and the EUR/USD tumbled with US stocks to 1.4200. &nbsp The EUR/USD traded with a low of 1.4183 and a high of 1.4455 before closing the day around 1.4250 in the New York session. Looking ahead, June PPI forecast at 0.1% vs. -0.2% previously.

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