Pre-ECB Rate Decision Run

Looks like they are setting up for a massive sell-the-news trade

Serious resiz at this point

 

Just curious, but sell what news? Looks to be a non-event. Hold rates, JC mumbles a bit about unwelcome currency moves, maybe the odd word or two towards taking accommodation away as market improves.

 

I just like the accents.....
The link is live at 8:30 NY time.

http://www.thomson-webcast.net/de/dispatching/?ecb_091203_stream_video

 

Rates don't matter... It's all about what they do in the LTRO. That's likely to be a VERY big event.

 

So, Trichet states the EU is taking action which will, long-term, strengthen the Euro. In the same speech, he supports a strong $.
China is increasing it's gold stakes but expresses concern over the value of the $.
Is this continued lip service, or might we be seeing an actual turn?

 

Turned out to be an awesome trade