EUR Trading Outlook (20-10-2011)
The Euro (EUR) traded day highs in Europe but reversed lower later in the day on talk Sarkozy had flown to Berlin for emergency talks after differences over aspects of the new debt plans hit issues. News late in the day that the money set aside for bank recapitalization was much lower than expected/needed. Looking ahead, September PPI forecast at 0.2% vs. -0.3% m/m.
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