well, looking only (and ONLY) at the graph, we have a marvelous triple top, which seems to go down to about 1.19. But I wouldn't bet a dollar ( or a euro on it).... (1.215 at the moment of writing) TFD Preparing my holidays for the states next summer so if you guys could push it down a bit I would appreciate it. Thx
Nice double bottom in dollar after that long decline, but today's action puts a rest in the rally. As an exporter to Europe, the pause is refreshing, as my debtors will rush to pay for fear of a top in the Euro. I suspect that this rally is part intervention, part short covering, and part foreign accounts settlement, but on the fundamental side, I would like someone to discuss the dollar/eruo. But in the long run, I prefer a weak dollar, as it has been a boon to me.
I am very much in favor of strong dollar and high interest rates. And here is why: Strong dollar=cheaper vacation in Europe; High interest rates=better cash inflow on my free cash. Go dollar go, all the way below parity level!
Me thinks it's just a correction. There is no fundamental reason behind a stronger dollar at the moment. Same cheap money situation, same deficit problems, no change in the import/export situation. Jobs still scarce, although more BS promises being told by the government and CEOs. Foreign capital is not exactly flowing into USA right now. If it was, then maybe this rally would make sense and stay.
ECB announcement made is it made in london or germany or suisse? more importantly ... what time GMT or EST is it made and do they also issue a statement ?
7:45 EST tomorrow, I think there is a 30 minute statement/Q&A session during the following hour. I'm guessing from Germany (UK not ECB member, they announce 45 minutes earlier).