EUR Trading Outlook (20-01-2012)
The Euro (EUR) the Euro rallied sharply for a second day heading back towards 1.3000 as fears the debt crisis spreading begin to ease and shorts in the market take profit. Most crosses led by the EUR/JPY had very strong gains and helped sustain the majors rally. The big risk event ahead is the Greece debt deal with a conclusion expected in coming days. Failure to reach an agreement would see the recent gains quickly given back. Looking ahead, December PPI forecast at 0.1% m/m.
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