Saturday, March 24, 2012

euro forecast week march 26-30 2012

euro forecast week march 26-30 2012 : The combination of technical momentum and renewed concerns over the euro zone economic outlook should weigh on the euro next week. The euro failed to break through the key resistance level of 1.330, suggesting that a near-term top may be in place. The flash reading of the eurozone PMIs disappointed expectations and failed to break the boom/bust level of 50, adding concerns that the economy has yet to stabilize. Germany's manufacturing PMI even slipped to 48.1 from 50.2 in February.

Next week, Germany's IFO for March should help crystallize the near-term economic outlook. France, Italy and Spain all issue debt, with retail sales in Portugal, Spain and Greece expected to be watched closely. On the policy front, the focus of next week's finance ministers meeting will center on discussions about combining the EFSF/ESM and finding a replacement for Juncker. Germany's finance minister, Schaeuble, is one of the leading candidates.

Key Levels: Resistance at recent low of 1.300; break of recent low opens up a technical target of 1.262, the early January lo

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euro zone economic outlook next week march 26-31 2012, euro Resistance level march 26 2012, Germany IFO for March 2012, euro technical target net week march 26-30 2012
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