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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:

EUR

Discuss EUR in this thread
 
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ptaczek
Brno, Czech Republic
Posts: 110
15 years ago
Apr 9, 2010 18:32
@macrosam: there's more on the rumor about Greece aid in my newswire:

------8<-------

The dollar index has dumped nearly 1% on the heels of the Eurozone bailout news for Greece - more importantly, the rumored rescue is believed to be for all of the PIIGS with a facility to borrow at euribor 3-month +275 bps which saw Portugal CDS tighten more than Greece at one point.

------8<-------


If it will be a kind of all-the-piigs-rescuing-package, what are the possible implications for the eurozone as a whole? Will it solve the most fundamental problems which are in the differences of eurozone members? I mean, there is no way how can southern members compete with Germany and France in growth terms but they have to share common rules.
macrosam
United States
Posts: 190
15 years ago
Apr 9, 2010 18:28
No desire to cover yet, though I may lighten up my exposure.
Callum
Singapore, Singapore
Posts: 179
15 years ago
Apr 9, 2010 18:11
There's plenty of China economic data coming out next week, and I understand the expectation is much lower than previous. I am guessing this would be a "show" to avoid raising rates. Also, don't they have to get a print of CPIɯ first?
asad
London, UK
Posted Anonymously
15 years ago
Apr 9, 2010 17:22
...so if e/one is competitive, then n/one is competitive! :p If e/one devalues their currencies, then we're basically in the same position, but at a lower scale (except, ofcourse, who devalues more)...


Asad
montmorency
Abingdon, UK
Posts: 610
15 years ago
Apr 9, 2010 17:21
Interesting. Who would have thought the Polish central bank to be major players?
(Also shows the limitations of technical analysis, sorry to say).
macrosam
United States
Posts: 190
15 years ago
Apr 9, 2010 17:14
This intervention explains some of the double bottoming action that seems to have occurred desptie plenty of room being left for a continued downtrend from a technical analysis perspective. There are significant pressures on maintaining competitiveness in a global recession.
macrosam
United States
Posts: 190
15 years ago
Apr 9, 2010 17:03
http://www.ft.com/cms/s/0/6279ff3c-43cd-11df-b474-00144feab49a.html
macrosam
United States
Posts: 190
15 years ago
Apr 9, 2010 17:01
Today's rally was more than just EUR/USD short covering on the Greece soap opera. The Polish zloty had its steepest decline in two months. The Financial Times is reporting that the Polish central bank intervened today as the zloty had increased 6% against the euro in the first quarter.
ptaczek
Brno, Czech Republic
Posts: 110
15 years ago
Apr 9, 2010 16:56
@Ginger: 1.3480 yes, but 1.35 still holding :)
Ginger
UK
Posted Anonymously
15 years ago
Apr 9, 2010 16:49
Ashraf's 1.3480 broken - interesting to see what next week brings.
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