EUR Trading Outlook (08-12-2011)
The Euro (EUR) the Euro rallied to 1.3450 at the start of Europe on optimism a major announcement would be announced in the coming days to support the Eurozone from both the ECB and EU leaders. The Rally was sold however with some conflicting headlines from Germany tempering expectations. Rumors continue to swirl on the size of new announcements and this is causing some sharp buying and selling throughout the trading day. Looking ahead, ECB Meeting forecast to cut rates to 1% vs. 1.25% previously and ECB President Draghi speaks. Also EU leading meet to discuss ways forward in the debt crisis.
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