EUR Trading Outlook (05-01-2012)
The Euro (EUR) Debt concerns resurfaced after reports that Spain was looking for loans form the EFSF to recapitalize its banks. Also adding to the heavy selling EURO was the Italian Bank Unicredit which has looked to raise funds at a 43% discount from its current share price sparking a 15% slump in the stock yesterday. Looking ahead, October Industrial Orders forecast at +2.4% vs. -6.4% m/m previously.
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