Posts by "stationdealer"

I wont say that's completely deluded but yes pretty much in line considering and all hail to Trichet who has play a clever chess game against the rating agencies, local reserves holder and foreign, while continuing to staying well clear of the political arena. Unlike our US counter party who still think they will lead world global banks into a union.

I do expect euro to move sharply above 145 end of this year, considering we move considerately to resolve & address domestic fears/concern before US while projecting slow but consistent growth.

Speculator that's exactly what I've been asking all those past job numbers were not just adding up, it had to fault somewhere in the long run, might as well start look at it closely now.

Germany, France to coordinate euro support -spokesman

Some Are Blaming This Headline

The only problem is, there is next to nothing in the article on which to base the headlineOh well i guess we will definitely find out tomorrow morning.

No matter, EUR/USD is getting a short-covering lift, testing resistance at 1.2510. A break will send the wolfpack chasing after stops which remain clustered up around 1.2700 in ginormous size, I'm told.

Euro now at 12504, EYRYEN 11235 from 11286, earlier a low of 10947

A break above the 1.2445 level would trigger a head and shoulders bottom on the short-term charts in EUR/USD. The textbooks tell us we should get a 300 pip rally if triggered.

Dont forget IFO's expected positive tomorrow and today's gain in jobless claims may help boost the rally.

And i learned how to add charts here Yaaaaaaaaaay......

Cross Adjustments Should Allievate Some Of The Extreme Positioning Risk

Heavy, heavy buying in odd-ball crosses like EUR/AUD and EUR/NOK as well as the big intervention in EUR/CHF this week should help alleviate some fear the market is just too short of EUR to go any lower. The move came fairly late in the week, so it may not show up in the IMM data to be released tomorrow, but the buying should have made a dent. Keep that in mind
EUR/USD is consolidating around 1.2380.

SD/JPY is coming back after it hit an air-pocked below 90.00 earlier in the session, tumbling to 88.95 in no time flat. Global markets have steadied a bit after plunging earlier in the US morning. The S&P fell over 3% and is now down 2.3%. European markets just closed down 2.3%.
EUR/JPY has recovered to 111.65 from 109.47 panic lows. EUR/USD is firmer in its range, now at 1.2380. 1.2445/55 remains hugely important resistance.

(RTTNews) - The European Central Bank will fully absorb the liquidity infused through ECBs government bond purchasing program through tenders of term deposits, ECB President Jean-Claude Trichet said on Thursday.

Speaking at the colloquium in honor of the central banks vice president Lucas Papademos, Trichet also assured the ECBs present monetary policy stance is appropriate and has been validated by the May 9 decision to snap up bonds to prevent a run on the euro.

We are not engaging in any form of quantitative easing, Trichet said.

The Securities Markets Program is designed to ensure an effective functioning of the monetary policy transmission mechanism by helping to resolve a malfunctioning of some segments of the euro area debt securities markets, he noted.

Recently, the Frankfurt-based central bank said in a statement that it decided to buy government and private bonds to ensure depth and liquidity in those market segments which are dysfunctional.

Trichet noted that building a safer financial system is of paramount importance that the responsible authorities enhance their financial sector surveillance while at the same time financial institutions play a decisive role by enhancing their risk management practices.

In this context, a key initiative is the proposal for the establishment of a European Systemic Risk Board or ESRB, which will be supported analytically and logistically by the ECB.

The ESRB will be an independent body responsible for conducting macro-prudential oversight of the EUs financial system as a whole, he said.

Once the legislative process is completed, the creation of this new European policy function will fill a significant gap in the ability to detect, assess and ultimately contain the build-up of risks.

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