The Euro (EUR) fell heavily as the US data was digested

mahikarnam · 07-31-2008, 12:08 PM

The Euro (EUR) fell heavily as the US data was digested and the market pared EURO longs. The sharp fall in Oil and weakening EU economic data also weighed. Strong July German CPI of 3.3%Y/Y provided some support but as energy costs come off peaks some analysts suggest July�s reading could be a cycle high. Overall the EUR/USD traded with a low of 1.5553 and a high of 1.5758 before closing the day at 1.5590 in the New York session.

07-31-2008, 12:08 PM	#1 (permalink)
mahikarnam Status: Senior Member Join Date: Jun 2008 Posts: 176	The Euro (EUR) fell heavily as the US data was digested The Euro (EUR) fell heavily as the US data was digested and the market pared EURO longs. The sharp fall in Oil and weakening EU economic data also weighed. Strong July German CPI of 3.3%Y/Y provided some support but as energy costs come off peaks some analysts suggest July�s reading could be a cycle high. Overall the EUR/USD traded with a low of 1.5553 and a high of 1.5758 before closing the day at 1.5590 in the New York session.

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