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HISTORICAL DETAILS
% Change
1 Wk -0.02%
1 Month -1.92%
3 Months -3.91%
6 Months 3.02%
1 Year 9.16%
52 WEEK
High 1.4940
Low 1.2588
BLOOMBERG MEDIAN FORECASTS
Q2 2011 1.45
Q3 2011 1.43
Q4 2011 1.42
Q1 2012 1.41
DAILY DETAIL
The euro fell significantly overnight due to re-emerging concerns in the EU combined with sharply weaker-than-expected US economic data. After hitting a high of 1.4452 in yesterday's Asian session, it slumped late in European trade to a low of 1.4183. A risk-off slide in equities and commodities started before the disappointing US manufacturing PMI data hit the newswires and accelerated as traders reacted. On top of that, heavy selling in Italian shares and widening yields over German bunds also weighed down the single currency. From a technical perspective, the failure to hold the recent break above downtrend resistance paints a weak short-term picture. As there is not a lot on the economic calendar tonight, the pair will be driven by underlying market sentiment ahead of the US senate vote on the debt deal, around 2am (Melbourne time). Ben Potter, Australia
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