Archived IMT (2011.03.25)
Stocks break out of their 2-week trendline, Aussie leads risk currencies against USD as rising risk appetite set to have the last word of the week. S&P downgraded Portugal by 2 notches to BBB from A- and warned of a downgraded to JUNK status depending on the current negotiations on the Ezone's bailout fund. EU agreed on the new EUR 500 bln bailout fund called the European Stability Mechanism to start in 2013. Angela Merkel succeeded into stretching Germany's payment into 5 years from 3. Nonetheless, the size of the current EFSF has once again been delayed so the EUR 440 bln has not yet been cemented. EURUSD loses more than a full cent off its 1.42s, while EUR retreating deeper against CAD as Portuguese 10 year yields push thru 10%. EURGBP retreats from 0.88 but the pair has already punished the shorts I suggested earlier. AUDUSD breaks above 1.0220s but past 4 weeks have shown that such a level encountered stiff selling resistance for interim targets aw 1.0170 and 1.0120.
Saudi Strike Upends More Than Oil
by Adam Button | Sep 16, 2019 11:55
ندوة أشرف العايدي مع أوربكس مساء الثلاثاء
by Ashraf Laidi | Sep 13, 2019 16:23
After the ECB
by Adam Button | Sep 13, 2019 15:09
What’s Priced in for the ECB?
by Adam Button | Sep 12, 2019 12:33
Bond Binge Busts
by Adam Button | Sep 11, 2019 12:29