EUR Trading Outlook (14-02-2012)
The Euro (EUR) the 2 notch downgrade of Spain and 1 notch on Italy saw the EUR/USD test 1.3150 in Asia and break going into Europe on Tuesday. The Greece situation had only just started to stabilize and the new negative news may be too much for the recent rally to digest. In US stocks, DJIA +72 points closing at 12874, S&P +9 points closing at 1351 and NASDAQ +27 points closing at 2930. Looking ahead, January Retail Sales forecast at 0.7% vs. 0.1% previously. Also head, February German ZEW index forecast at -12 vs. -21.6 previously.
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