EUR Trading Outlook (04-11-2011)

The Euro (EUR) the ECB cut rates to 1.25% from 1.5% as new President Draghi put his own stamp on the way the central bank was going to be run. The market sold the Euro initially but then bought it up aggressively as stock markets soared in response to Greece reversing its decision to have a referendum. Looking ahead, October PMI Services forecast at 52.1 vs. 52.1 previously.

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