Archived IMT (2011.03.31)
2.6% CPI and a little more hawkishness is enough for the euro. Ezone Flash March CPI jumped to 2.6% from 2.4% vs exp 2.3% justifying the latest hawkish talk from the ECB. EURUSD was already rallying before the data when after ECB board member Lorenzo Bini Smaghi said the bank should introduce series of gradual rates hikes in the Ezone. One of the reasons markets ignored last nights comments from Kansas Feds Hoenig that the Fed indicating the Fed needed to get on with tightening current ultra loose policy is that i) Hoenig is NOT a voter at this years FOMC and ii) Hoenig was the ONLY consistent hawkish dissenter throughout all of last year, therefore, his demands for tightening are NEITHER new or effective. And so that is why I quipped earlier today that ONE Hawkish ECB comments was nearly worth THREE times the impact of Hawkish Fed comments? 2 days ago I emphasized EURUSD would remain supported above the Feb 14 trendline support of 1.3980. Now resistance emerges at 1.4255.
Latest IMTs
-
محتوى بوصلة السوق من العائد الى الذهب و الناسداك
by Ashraf Laidi | Mar 20, 2024 12:42
-
BTC Needs Powell Correction بيتكوين بحاجة الى تصحيح
by Ashraf Laidi | Mar 18, 2024 17:20
-
Not once, twice, but six ستة مرات ليس صدفة
by Ashraf Laidi | Mar 13, 2024 10:07
-
Finding 88K Bitcoin كيفية الوصول الى
by Ashraf Laidi | Mar 4, 2024 12:21
-
شراء بيتكوين وصل الى عشر أضعاف الإنتاج
by Ashraf Laidi | Feb 29, 2024 9:17