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Euro shorts are getting fried following the ECB rate decision (no change) and ahead of Mario...

  • Thursday, August 2, 2012, 8:19 AM ET
    Euro shorts are getting fried following the ECB rate decision (no change) and ahead of Mario Draghi's press conference at which big things are expected. The euro +1% vs. the greenback to $1.2342. Maybe more interesting is movement higher in the euro/Swiss franc cross, now at 1.2025 after being locked at 1.2010 for months. FXE +1% premarket.
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    So now we wait for the speech from Mario Draghi to see if he has a plan to back up his speech from last week to do whatever it takes to save the Euro. He surely must now have to come up with a definitive plan for the short term or we could see another large Euro sell off.
    2 Aug 2012, 08:39 AM Reply Like
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