EUR Trading Outlook (31-08-2011)
The Euro (EUR) the Euro underperformed on a number of negative stories. The FT had an article widely talked about suggesting the ECB will reevaluate the inflation risk and thus no need to raise rates. Also increase grumbling out of Germany regarding the Bailout of smaller EU countries is hampering the leader Merkal&rsquo s ability make deals. Support is seen at 1.4400 but both stories have the potential to cause further selling. Looking ahead, German Unemployment Change forecast at -10k vs. -11k previously.
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