Around 12 noon EST Garbanas from the ECB said that rate expectations are reasonable. I hope that this helps.
Apologies for repeating a question but have always traded spot but now looking at futures as well. I have TT and on the ladder it only shows the best 5 bids and best 5 offers. Does the CME show all the information and TT choose only to display the best 5-or is it the same with all ISVs?
I made some screenshots with ButtonTrader, which shows what happened (although I was several minutes too late {was not watching the market at that time}: I did not see 20,000 or 30,000 lots...but "only" 10.000). The first shows the resistance-block on 1.1900:
And the last, the run up to 1,1950...and now a whole lot of Market-Buy-orders...panic? (which shows the spikes, with vertical gaps in the tickchart)
Sydney, February 20: The EUR/USD is expected to remain sidelined today due to the US holiday after a pretty whippy session on Friday. There is a story going around that a "mis-trade" occurred on Friday afternoon with an entity looking to sell Eurodollar futures and accidentally sold over a yard of EUR/USD on one of the trading platforms. The "error" resulted in the EUR/USD sliding from 1.1930 to 1.1875 and straight back to 1.1930 when the error was realized and reversed. The FX market has fully priced in the Fed hiking twice more to 5% and this has left the USD vulnerable to any evidence that does not confirm that outlook. That was the reason for stronger than usual "sell dollar" reaction to the weaker than expected Univ of Mich survey on Friday. This week the key events will be the FOMC Minutes on Tuesday, CPI on Wednesday and a number of Fed speakers Thursday (Dallas Fed Pres Fischer) and Friday (Bernanke and St Louis Pres Poole). If expectations of two more Fed hikes are dampened by any or all of the above mentioned events, the EUR/USD should take out key resistance around 1.1950 and make tracks towards 1.2020.