EUR Trading Outlook (09-02-2012)
The Euro (EUR) the EUR/USD attempted to break strong resistance at 1.3280 but dipped on news that critical debt negotiations had stalled. The latest stumbling block is the pension reforms proposed in the new budget to help reduce the projected deficit. In US stocks, DJIA +5 points closing at 12884, S&P +3 points closing at 1350 and NASDAQ +11 points closing at 2915. Looking ahead, Weekly Jobless Claims forecast at forecast 370k vs. 367k previously. Also, ECB Rate meeting forecast to hold at 1.0% and ECB President Draghi holds press conference.
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