SubscribeDaily Forex Commentary for April 10, 2009
April 10th, 2009 • Related • Filed Under
April 10, 2009
Trichet Comments Spark Selling in Euro
The Euro started the overnight session lower because of continued flight-to-safety selling as risk averse traders were seeking safety in the U.S. Dollar. Furthermore, news that the Euro Zone economy was expected to worsen was helping to drive the Euro lower. Bearish traders were also reacting to the possibility of a European Central Bank rate cut to under 1% in May and simultaneous quantitative easing in the form of corporate buy-backs.
The market reversed itself to the upside prior to the …
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Pingback by Daily Forex Commentary for April 10, 2009 on 10 April 2009:
[...] News Sources wrote an interesting post today onHere’s a quick excerptApril 10, 2009 Trichet Comments Spark Selling in Euro The Euro started the overnight session lower because of continued flight-to-safety selling as risk averse traders were seeking safety in the U.S. Dollar. Furthermore, news that the Euro Zone economy was expected to worsen was helping to drive the Euro lower. Bearish traders were also reacting to the possibility of a European Central Bank rate cut to under 1% in May and simultaneous quantitative easing in the form of corporate buy- [...]
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