Posts by "rob"

Hi Ashraf,

Any thoughts about whether the BoC will be hawkish or dovish tomorrow morning. I went long USD/CAD just below the 1.0470 support mentioned in the IMT. Perhaps I was a bit premature, although the support seems to be holding somewhat; we'll see. Thanks.

montmorency - I agree that it's quite plausible SNB did NOT intervene these last few times when EUR/CHF went up only about 80 pips or so. When they intervened in spring '09 (first I think) - we saw it shoot up about 400 pips. Perhaps they are waiting for a large sell-off in order to really show the CHF longs who's boss. Regardless, I'm in at 1.4630 and looking to get about 40 pips out of it to 1.4670. If it drops, I feel safe doubling down.
Ashraf - I wonder if the SNB thinks the way you are. That is, if they don't support it, it will act like a downhill skier. I'm sure they don't want that, and hopefully realize it, because I went long. Thanks for all.

Ashraf, MANY thanks for all your help - had a stellar day shorting EUR/USD and Gold. As much as I'd like to leave it there until 1.32/1.30 and 1020 - it would be too frustrating to watch gains get erased from volatility.

BTW - is it really feasible that the SNB can intervene so often? I don't know a hell of a lot about central banks and there balance sheets, but I would think they'd have to succumb to market pressures at some point. And there floor is obviously drifting lower (although 1.4600 does seem to be the cut-off). Any thoughts? Thanks again!!!

@montmorency - I'm in the same boat - strange dollar weakness today...though perhaps it deserves a little correcting after the Asian and EUR session. Hoping to hold this until 1020, perhaps 1000. I think 1020 was Ashraf's most recent call, and he definitely called 1040.

Hi Ashraf,

Would you share your thoughts on this emergency ECB meeting. Could not an announced plan to "save" Greece cause excessive upside in the Euro? I understand the problems are deep and not strictly confined to Greece; however, with the deep sell-off in EUR already, do you see the possibility of a rather large bounce? And do you feel that Trichet and others are purposefully going to say something to prevent further downside in the Euro? Thanks for your help. Rob.