EUR Trading Outlook (05-10-2011)

The Euro (EUR) the Euro lifted from sub 1.3200 level to break above 1.3300 on the positive news flow regarding the European banks and progress on the Greek bailout. Concerns still remain but the heavily oversold currency was able to enjoy solid gains against most pairs. Looking ahead, August Retail Sales forecast at -0.3% vs. 0.2% m/m previously.

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