EUR Trading Outlook (07-12-2011)
The Euro (EUR) the EUR/USD found support at 1.3360 and grinded higher for the rest of the day as the market continued to be optimistic. Q3 GDP was confirmed at 0.2% Q/Q and German Industrial Orders surged at 5.2% vs. 0.8% forecast. The outlook is positive as the leaders continued to say the right things to the market. EUR/GBP and EUR/AUD both rallied as the Euro outperformed. Looking ahead, October Industrial Output forecast at 0.4% vs. -0.7% previously.
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