So the big question remains - is Portugal now in line for a bailout?
At the moment I consider this a profit-taking correction in the Euro, but technicals are limited given the significance of the political programme, leading upto 24-25 March EU conference.
If Portugal blows up before then, it becomes another firestorming session, trying to save the euro.
If not, expect more rate hike talk which will boost the euro, UNLESS we get hawkish talk from the FED.
I hope everyone had a nice weekend. Euro up today, it should be remembered the Euro is doing well primarily because of distrust of US FED QE policies. So by all means watch the European political situation - it's a good soap opera - but keep the other eye on US and growing resistance to FED policies and Bernanke. I only play long-game - I still with a short begun some time back - but happy to keep going as the political trends are clear: growing resistance to EU in Europe, growing resistance to FED in US.
Everyone have an enjoyable weekend. Note some institutions are still short the euro -http://www.euro-exchangerate.com/euro-to-weaken-0403192 Also reuters reports highest volume of euro longs since July 2008 - looking at the charts, I note that it duly dropped from 1.58 to 1.2 in the next three months. Ominous sign for those who are piling into euro long positions.
Most interesting thing Trichet said was that there could be no series of rate rises, as it would impact (read collapse) the fragile banking system. This applies also to the UK. So for all the talk, Trichet is not an inflation hawk, neither is King at BoE, they run the shows there and like Bernanke have chosen to inflate away debt - how else can the west get out of this mess. We are stuck in a Japanese conundrum - no rate rises this year, and no series of rate rises for many years. Savers always lose out.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(10 months ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(10 months ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(11 months ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (11 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (11 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (11 months ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(11 months ago)
إستعمال تحليل الإنترماركت والتحليل الفني الكلاسيكي لتداول الذهب و الناسداك و السندات. شاهد هنا
Using intermarket technicals analysis to trade XAUUSD Nasdaq100 and Bonds.Watch here.
Latest Hot-Chart - May 16
Dax 200 DMA Deviation
You remember we went short Dax40 in late March based on the 13% 200 DMA extension, which gave us at least a 500-pt gain.
View Hot-Chart..
So the big question remains - is Portugal now in line for a bailout?
At the moment I consider this a profit-taking correction in the Euro, but technicals are limited given the significance of the political programme, leading upto 24-25 March EU conference.
If Portugal blows up before then, it becomes another firestorming session, trying to save the euro.
If not, expect more rate hike talk which will boost the euro, UNLESS we get hawkish talk from the FED.
Place your bets...
Euro up today, it should be remembered the Euro is doing well primarily because of distrust of US FED QE policies.
So by all means watch the European political situation - it's a good soap opera - but keep the other eye on US and growing resistance to FED policies and Bernanke.
I only play long-game - I still with a short begun some time back - but happy to keep going as the political trends are clear: growing resistance to EU in Europe, growing resistance to FED in US.
Note some institutions are still short the euro -http://www.euro-exchangerate.com/euro-to-weaken-0403192
Also reuters reports highest volume of euro longs since July 2008 - looking at the charts, I note that it duly dropped from 1.58 to 1.2 in the next three months. Ominous sign for those who are piling into euro long positions.
Most interesting thing Trichet said was that there could be no series of rate rises, as it would impact (read collapse) the fragile banking system. This applies also to the UK. So for all the talk, Trichet is not an inflation hawk, neither is King at BoE, they run the shows there and like Bernanke have chosen to inflate away debt - how else can the west get out of this mess.
We are stuck in a Japanese conundrum - no rate rises this year, and no series of rate rises for many years.
Savers always lose out.