Market Moving News: EUR/USD - Mar 8

By @ibtimes on

EUR/USD - 1.3578.. The selloff to 1.3551 in NY session, first by ECB's Trichet comment that growth in Europe will remain uneven n followed by ratings cut of Deutche Bank by Moody's was a relief to euro bears but it is far too premature to jump on the bear bandwagon. We don't envy our colleagues covering NY market today as U.S. jobs report is expected to be distorted by weather-related factors as well as the hiring of census workers. Offers are reported fm 1.3590-1.3610 but profit-taking bids remain plentiful all the way fm 1.3550-20. Sell the euro on recovery n when price drops to 1.3520/30, take your money n run.

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