It was a while back since the eur-usd traded in so predictable a range, 1.5 still a good position to short from given the ratings cuts and concerns over greek bonds.
So any thoughts on Spain? Bailout rated as 1 in 7 by Capital Economics...but other than producing great football teams (subsidised by the government), what does Spain produce these days to generate meaningful growth? place yer bets...
no hawkish tone, but the idea that "we will tell you when we have made a decision to raise rates" is v abstract and potentially creates the uncertainty which markets dislike.
trichet obviously keeping a card to himself, to bring up interest hike if euro starts bombing again, which could happen if spain starts to be questioned.
also, how will this play across in the US - will it stoke calls for tighter monetary policy there? If so eur-usd going the dollars way.
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(10 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 (10 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (10 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (10 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(10 months ago)
big fall today, euro can't break 1.52, has tried for past week.
place yer bets...
trichet obviously keeping a card to himself, to bring up interest hike if euro starts bombing again, which could happen if spain starts to be questioned.
also, how will this play across in the US - will it stoke calls for tighter monetary policy there? If so eur-usd going the dollars way.
Just a thought..."
usik, the timing definitely feels stage-managed, why does portugal ask for a bailout the night before ecb meeting, and not earlier?
I'm unsure about the rate rise, it will probably happen, but I think it will be a one-off, or signalled as such.
ECB will have less incentive to rise rates as the FED winds down QE2 (which is causing all the inflation for the most part).