EUR Trading Outlook (22-02-2012)
The Euro (EUR) the continued failure 1.3300 is leaving the recent range in place with the Greece resolution unable to provide enough inspiration to break higher. The outlook is mixed with the US economy picking up and recession in the Austerity hit Eurozone expected for 2012 creating more reasons for Euro shorts while risk appetite and stock market rallies help lift the single currency. In US stocks, DJIA +15 points closing at 12965, S&P +1 points closing at 1348 and NASDAQ -3 points closing at 2948. Looking ahead, January Existing Home Sales at 4.65mln vs. 4.61mln previously.
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