EUR Trading Outlook (09-03-2012)

The Euro (EUR) the positive news continued to roll in with the final bond swap take up looking to approach 95% and the EUR/USD took advantage to rally to 1.3280. The ECB held at 1.0% as expected and little was added from the press conference. The outlook is mixed with the USD gaining in recent times when Nonfarm payrolls beat expectations with the improving US jobs market changing the FED’s tone on potential QE3. Another solid US Nonfarm payroll figure tonight will provide more data for this emerging trend.

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