Discussion in 'Forex Trading' started by Gcapman, Dec 2, 2009.
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.
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
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