The markets finally had some French and German data to cheer about on Thursday, and the good news helped the Euro USD reverse its downward slide. However, concerns remain high that Spain may be forced to ask for an international bailout, as the recession and banking crisis and high borrowing costs weigh heavily on the economy. With the elections still three weeks away, look for Greece to remain in the daily headlines. In the US, Pending Home Sales dropped sharply, raising concerns about the US recovery. There are a lot of EZ and US releases today, with the most important being US GDP and Employment data.
Here’s an update on technicals, fundamentals and what’s going on in the markets.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-may-31-euro-moves-upwards-after-positive-euro-zone-data/"]EUR/USD Moves Upwards After Positive Euro-zone Data[/URL][/I][/B]
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