EUR Trading Outlook (02-02-2012)
The Euro (EUR) the EUR/USD continued to gyrate violently throughout the trading day down in Asia and hitting fresh week lows under 1.3050 before reversing and catching the market short heading back to 1.3200. Talk continued that a Greece debt deal was very close but as of writing nothing had been finalized. The market is in two minds with the bears expecting more downgrades and trouble in the Eurozone while the bulls are looking higher on hopes the worst is behind us. Looking ahead, December PPI forecast at -0.2% vs. 0.2% previously.
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