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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
it is not a simple conjonctural inflation
Bank analysts concur ECB cannot hike.
I told you few month ago that eur will be at 1.40 and cable 1.65 then 1.70 not only because european crisis is out (and we will see european crisis end this month) but also because of QE2 in USA+++ WORL INFLATION
Another aspect worth looking at is that Average Hourly Earnings slipped back to 0.9% from 0.4%, therefore putting back any inflationary argument back to rest. Despite Gold regaining $1430s and oil prices on the rise again, USDX holds right above the 3-yr trendline support of 76.20-30s. The bulk of USDX weakness is driven by EURUSD hovering near $1.40s. GBPUSD remains unable to regain $1.63.
Ashraf