EUR/USD Threatens Yearly Low as Euro Worries Back in the Spotlight

Forex Talking Points:

– Equity markets are pulling back a bit after the strong topside runs that developing during the first week of November. This has come along with a pullback in that prior theme of US Dollar strength, which ran into trend-line support on Wednesday of this week. With the US Dollar (DXY) re-approaching the 97.00 level as European worries begin to show again around FX markets, might another bearish turn be around-the-corner for global equities?

– Next week brings the due date for the revised budget out of Italy, and at this point neither side looks ready to give. The European Commission continues to contend that Italy’s growth forecasts are far too high to justify their proposed deficit, while Italy claims that the European Commission is using a sub-optimal forecast model. Next Tuesday, November 13th, is when the revised budget is due from Italy – but will they cave to Brussels’ demands?

– DailyFX Forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If

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