In the broadcast today: Is the EUR in the Midst of a Euro-zone Financial Tsunami? Last year, the markets managed to “sweep under the rug” some of the underlying problems in the Euro-zone and Eastern Europe. Although we did get a glimpse of what may be coming, as equities bottomed in March, 2009 and rallied in the following 9 months, risk appetite grew more and more insatiable and investors seemed to not care so much about the ability of some members of the EMU and certain Eastern European countries to repay their debts.
Thanks to one of our regular guests on this program last year, we knew that there was something brewing under the surface of the Euro's rally in 2009, but it was not until recent months when most investors around the world finally realized that it was not a matter of IF but WHEN these issues in the Euro-zone will resurface again. One of the few raising the warning signs for the Euro last year was Mr. Jack Crooks, Chief Investment Officer at Black Swan Capital, who joins us as a special guest of the program today.
In the midst of this morning’s massive risk aversion, we interview Mr. Crooks on his view of whether we are witnessing a “Euro-zone financial tsunami”, what could be its impact on the fate of the EUR and how current and future fundamental factors could continue to shape the trend for the USD in 2010, we analyze the latest developments with the EUR/USD, GBP/USD and USD/JPY currency pairs, we highlight the market's reaction to the Bank of England and the European Central Bank's interest rate announcements, and the U.S. Jobless Claims, we discuss new forecasts from Bank of New York-Mellon and UniCredit, and prepare for the U.S. Non-farm Payrolls and Employment Situation report scheduled for release in the trading session ahead.
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