EUR Trading Outlook
The Euro (EUR) The EUR/USD had a mixed day against the USD with some selling in Europe reversed later in the US session. European PMI Surveys showed a sharp drop in French manufacturing but a rise in the German reading. The major rallied to 1.3380 on the back of strong EUR/JPY and EUR/AUD buying. Bulls are targeting the 1.3400 but the resurgent Dollar had mad range trading more likely.
The Euro (EUR) the EUR/USD failed to break free of the 1.3300 orbit and we fell from 1.3350 to 1.3270 in the US session before stabilizing and closing at the familiar 1.3300 figure. EUR/CHF has been noted as a major source of the Euro selling which fell from 1.2400 to 1.2320. The outlook is mixed with the recent rally struggling for fresh gain but not really much selling interest either with risk appetite and stocks remaining near highs.
The Euro (EUR) rumors and speculations swept the European markets yesterday with a 300 pip range on the EUR/JPY. Talk that large German banks were being broken up and that German Bupa President had resigned sent the EUR/USD sharply lower from 1.3350 to 1.3270 in a matter of minutes. After Buba denied the rumours we saw most Euro crosses rebound.
The Euro (EUR) The EUR/USD went into a coma overnight with trader sitting on the sidelines ahead of the BOJ decision. EUR/JPY is a key cross for the major and has been extremely volatile in recent weeks. More of the same is expected after the decision with Y120 key short term resistance. Germany’s central bank overnight was upbeat on 2013 prospects.
The Euro (EUR) The EUR/USD reversed sharply from 1.3400 on Friday down to 1.3280 on the back of comments from ECB Member Course that short term interest rates will not be impacted if banks repay liquidity early. EUR/GBP is continuing its uptrend as the GBP worries grow. EUR/JPY has been volatile but finished above the Y120 level.
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