Euro-zone finance ministers fail to agree to raise â¬500 billion EFSF/ESM joint ceiling. 19 Dec 15:05:23 Edit: This is delayed news, so time has to be around 1-2 minute before than marked. Co-incides with the move in ES. so i guess this should be the reason. only a guess!
These a-holes (whoever releases the news) love to fuck with the market don't they? Whether the news be up or down, they can't wait until after the markets close? The 4:30 time frame would be good.. after US close, before Asia gets going.
Well said, these macro news can come at any time and rip your trade apart. I got hit hard by Chinese rate cut and then swap rate cut 2 weeks back, I know it pretty well mate. They should be like companies which mostly announce earnings at set times. This is another reason why it is hard to trade ES longerterm these days especially, say you are short from 1220 targeting 1180 below, lets say ES closes at 1196, you leave the position open, some news comes out of eurozone and SP opens at 1215. hard to keep positions overnight in this environment.