EUR/USD Moves Lower On Trichet’s Comments And Change In ECB Projection

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EUR/USD Moves Lower On Trichet’s Comments And Change In ECB Projection

By Greg Michalowski on March 5, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The ECB lowered their estimates for growth and inflation for 2009 and 2010 and the more bearish comments from ECB’s Trichet have led to a lower EUR/USD. The pair has now retraced more than 61.8% of yesterday’s sharp move higher. The lack of a stimulus out of China overnight also contributed to the soar mood today. This has the global stock markets down.

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