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  • EUR/USD extends losses now that Bernanke out of the way 1 comment
    Aug 26, 2011 10:34 AM

    Now focus turns to Trichet who speaks at Jackson Hole tomorrow. Given the chaos in European equity markets, traders will look to him to soften his tone and signal a willingness to cut rates before too long. Clearly, the 50 bp in hikes earlier this year were mistimed, as they were in 2008.

    If the ECB is going to cut any time soon, expect it sooner rather than later. The last thing the ECB wants to do is put a new, Italian ECB president in the position of reversing a tightening cycle right out of the gate. Bottom line, if we get a cut, it will come in the next two meetings.

    EUR/USD has probed the area of support around 1.4365. More is at 1.4325.

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  •  
    Have to agree. Friday was no watershed -- but the orgasmic spurt at the end of the exercise.

    seekingalpha.com/insta...

    Look at German and French indexes, both headed lower on Friday. Both are issuing trading top signals.

    I got a whole slough of shortsell signals. And a few buy signals on inverse ETFs and on gold and gold stocks and long TBonds.

    Big Ben is gone. Long live Big Ben. I think I head a bell tolling out the window, imitating the sound of the Bernanke put falling into the sea, and no one noticing.
    27 Aug 2011, 07:21 AM Reply Like
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