Nov
24
Once again, storming numb
ByOnce again, storming numbers out of Germany. Following the much
firmer than forecast flash PMIs Tues, the IFO has just come in at a best
ever 109.3. And once again, [EUR/USD] just cannot rally on the numbers.
A new post data low of 1.3312 has just been recorded. EMU contagion
worries and perceived German disillusionment with the Euro project are
standout negative drivers. Expect profit taking into our identified
1.3295/00 support zone, but there are good size stops below there and
through 110.00 in Eur/Jpy too
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