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by Ashraf Laidi
Posted: Sep 23, 2008 13:10
Comments: 4
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A Super Tuesday for the Dollar ?

Todays quadruple testimony (Fed's Bernanke, Treasury's Paulson, SEC's Cox and OFHF's Lockhart) at the Senate Banking Committee is expected to priduce a solid day for the US currenct and equity indices.
 
Ashraf Laidi
London, UK
Posts: 0
12 years ago
Sep 24, 2008 9:45
Bunds are up and Dax is down on weaker IFO. EURUSD looks like will struggle in breaching $1.47 just like GBPUSD struggled to breack above $1.8600 yesterday and cam tumbbling down to $1.8500.
ajp03002
United States
Posted Anonymously
12 years ago
Sep 24, 2008 9:22
Totally clueless action, as if big movers don't care about the IFO but rather swing all over the place. Why have the fx markets been too volatile recently? Wasn't like this before.
Ashraf Laidi
London, UK
Posts: 0
12 years ago
Sep 24, 2008 4:18
ajp03002,
Certainly the IFO will be more pressing in determining the shortterm flow in EUR than any implications on European banks from the crisis. There's plenty of talk of surging leverage by European banks tied to US banks, but it is things such as i) IFO and ii) Buffet's interest in Goldman that will shape the thngs to come. Regarding the FX Futures flows, it makes sense that euro longs saw a sharp spike last week considering the moves in the cash market.
ajp03002
United States
Posted Anonymously
12 years ago
Sep 23, 2008 23:20
What are the implications of a negative view of European Banks for a longer term forex trade (from Centre of European Policy Studies) weighting a possibly eurozone slowdown with a "maybe" better than expected report at 4 am est (IFO survey)

CME volume have shown greater buying interest for EUR futures recently, therefore, is it better to take the Centre of E..'s reports lightly for the short term. http://blogs.wsj.com/economics/2008/09/22/european-banks-too-big-to-rescue/

Another topic:

Since Japan had a holiday yesterday, is it possible for the USD/JPY to slide early asian session as further liquidations happen? or will the eventual congress-fed deal keep negative equity markets' influence on USD/JPY light.