Chinook's EUR/USD (E/$)Mumblings
- Thread starter chinook
- Start date
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Thomson reports:
"15:12 EUR/USD: Cross Pressures Keeping Range Tops Intact] Boston, November 19:
Greenspan made a number of brutally frank observations this morning but he did
not tell us anything we did not already know. He was quite blunt in stating that
if you are not hedge for higher US interest rates you're going to lose money, a
comment that should help the dollar in the big picture.
He is clearly supporting the theme that has gripped the market for months, the
intense focus on the current account deficit. It is almost surprising that the
EUR has not broken 1.3075 and made a run for the very large barriers at 1.3100
after his bout of truth-telling. EUR/JPY sales likely explain the inability of
EUR/USD to forge new highs, but if it stabilizes, expect one last run for the
highs into the London close."
"15:12 EUR/USD: Cross Pressures Keeping Range Tops Intact] Boston, November 19:
Greenspan made a number of brutally frank observations this morning but he did
not tell us anything we did not already know. He was quite blunt in stating that
if you are not hedge for higher US interest rates you're going to lose money, a
comment that should help the dollar in the big picture.
He is clearly supporting the theme that has gripped the market for months, the
intense focus on the current account deficit. It is almost surprising that the
EUR has not broken 1.3075 and made a run for the very large barriers at 1.3100
after his bout of truth-telling. EUR/JPY sales likely explain the inability of
EUR/USD to forge new highs, but if it stabilizes, expect one last run for the
highs into the London close."
and I guess I'll shutup after posting this one for a while since everyone seems to be concentrating elsewhere ;o)
"[15:27 EUR/USD: Interest Rate Differentials Widen After Greenspan] Boston,
November 19: Short-term US interest rates are rocketing in the wake of a
seemingly flip comment from Greenspan that if you're not hedged for higher
rates, you're gonna loss money. 2-year spreads have pushed out to 57 bp in favor
of the dollar after the comment, about 11 bp wider than yesterday. This should
help take the steam out of the EUR rally, though topside targets are ripe for
the plucking. One more push to 1.3100 cannot be ruled out before a correction.
EUR/USD trades at 1.3040."
"[15:27 EUR/USD: Interest Rate Differentials Widen After Greenspan] Boston,
November 19: Short-term US interest rates are rocketing in the wake of a
seemingly flip comment from Greenspan that if you're not hedged for higher
rates, you're gonna loss money. 2-year spreads have pushed out to 57 bp in favor
of the dollar after the comment, about 11 bp wider than yesterday. This should
help take the steam out of the EUR rally, though topside targets are ripe for
the plucking. One more push to 1.3100 cannot be ruled out before a correction.
EUR/USD trades at 1.3040."