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

EUR

Discuss EUR in this thread
 
Stationdealer
London, UK
Posts: 715
14 years ago
Jul 8, 2010 16:49
Theyve been buying on dips and theyve been buying on strength bit for the past several days US asset managers have been steadily buying.

Its not clear if they are hedging or merely returning to European markets abandoned last spring at the worst of the sovereign debt crisis. Either way, they have been a steady presence that has helped keep EUR/USD underpinned.

EUR/USD trades at 1.2680 with some profit-taking seen as short-term accounts book profits as US equities lose steam. The S&P is nearly 9 points below earlier highs and are now up less than 2 points

Central Bank Bid Crops Up On Dip

Traders report an Asian central bank bought EUR/USD as it dipped into the high-1.2650s.
Prices have stabilized and we now trade in the 1.26565 area

IMF: Downside Risks To US Have Increasedhttp://www.imf.org/external/np/ms/2010/070810.htm

If data remains weak in coming months, would have to consider revising forecast (really? ya dont say) Fed could change language to indicate rates to stay low for longer if outlook worsens.
Calls for eliminating mortgage interest deduction in US (THAT will help the housing marketNot!


UKs NIESR: Q2 GDP 0.7%

NIESR says the UK economy grew 0.7% in the June quarter but slowed from a 0.9% pace in the three-months end in May. Headwinds ahead for the UK economy include budget consolidation in the UK and euro zone, the think-tank says.

Cable has been a major laggard today after a sharp drop in UK house prices was released overnight. 1.5080 is important support on weakness. Stops are perched below


Baltic Dry Drops Another 4%, Below 2000, Longest Decline On Record Enters 31st Day

The Baltic Dry, which contrary to what some may claim, actually is one of the best leading indicators on global trade and thus the health of the economy, continues to plunge, and is now below 2000, hitting fresh 14 month lows, at 1940. It is now at the levels last seen during the March 2009 "generational" low, and just after the Lehman bankruptcy. Yet futures are up as initial claims beat expectations by 6,000 very statistically relevant people.
catnip
Frankfurt, Germany
Posted Anonymously
14 years ago
Jul 8, 2010 16:37
sl eurusd short entry 126 @ 1266 went long... doesn't look promising will re enter short eur usd if resistance 1266 breaks
Dodger
London, UK
Posts: 139
14 years ago
Jul 8, 2010 16:36
Frog,chatting with some american buddies the other night and they reckon the tea party is going to really shake up those elections,could end up with something like the uk,next time round!
Coach
Singapore, Singapore
Posts: 43
14 years ago
Jul 8, 2010 14:53
@Pipster

There's where my SL is. If it should break 1.2730 then I'm out! Small lost. GL!
Pipster
UK
Posted Anonymously
14 years ago
Jul 8, 2010 14:48
Coach

I'm waiting for 2740 with SL 1.3000
Coach
Singapore, Singapore
Posts: 43
14 years ago
Jul 8, 2010 14:43
Hi All,

Eurusd should test 1.2720 but may not break that level today. Rising wedge 4 hr chart. Any comments?
Stationdealer
London, UK
Posts: 715
14 years ago
Jul 8, 2010 14:35
he was like that last press conference too, I noticed he's been a little different since then including this one :)
Frog
Paris, France
Posts: 28
14 years ago
Jul 8, 2010 14:17
The bull trap takes place. I see the free fall of eurus in november right before or after the US elections. I'm pretty sure republicans will sweep democrats's ass. And then, the market will discount a new fiscal et monetary policy which will take into account a stronger dollar.

So nothing to do until then IMO. Expect also the market to resume its downtrend by then.
Frog
Paris, France
Posts: 28
14 years ago
Jul 8, 2010 14:10
Trichet is hilarious today.. Did he smoke something ?
Stationdealer
London, UK
Posts: 715
14 years ago
Jul 8, 2010 12:48
Cat's got a point there. But why are we trying to become economists. All we do comment and review analysis. If I'm beating my head around all day trying figure out economic policies and debating about them, who's gonna trade for me and the rest of my work.

Jamshed what you need to realise is politicians make statements all along who even knows if Obama will be there after 5 years. Probably by the time he leaves US maybe in far worse shape than it ever was.

The only way to control the dollar, is either to improve the bond market and reduce its align threats to them bond or to hold and another global reserve currency.