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EUR Trading Outlook (24-08-2011)

The Euro (EUR) the Euro rallied to 1.4500 and found resistance before falling back into the close but in on a strong footing with risk appetite improving lately. August PMI Manufacturing at 49.7 vs. 49.6 forecast and services PMI at 51.5 vs. 51 forecast. There is some concern with talk Finland may pull out of the Greece bailout and this is causing some jitters. Looking ahead, German August IFO forecast at 111 vs. 112.9 previously.

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