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EUR Trading Outlook (03-02-2012)

The Euro (EUR) the EUR/USD traded in a relatively tight range between 1.3100 and 1.3175 supported on the back of positive Spanish Bond Auctions. The market is waiting final details on the Greece debt deal expected today for next direction before the US jobs data impacts the major via the USD component. Looking ahead, January PMI Services forecast 50.5 vs. 50.5 previously. Also ahead, December Retail Sales forecast at -1.3% vs. 2.5% previously.

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