Over 20 years in trading
Party is coming up!? 🙂 Just kidding, I am not expecting any changes in the ECB’s monetary policy today. The main rate, decision coming up at 11:45 h (GMT), should remain at 0,05%. In that case, the market could stay steady and calm. But, we could see some action and market moves during the Press Conference at 12:30 h (GMT). Mr. Draghi could
Read morePBOC cuts Chinese interest rates again on Saturday to stimulate the economy. One year bechmark lendig rate cut by 25 bps to 4.85%, one year benchmark deposit rate cut by 25 bps to 2.00%.China’s central bank cut lending rates for the fourth time since November! From PBOC:Â “The interest rate and RRR cuts, will help stabilise growth, adjust structures and lower
Read moreReturning home on Saturday night, Tsipras went on television to declare a referendum on EU bailout proposal from creditors, set for July 05. Today, the Greek parliament with 151 votes easily gives green light to the same. Greeks are due to vote on whether to accept or reject the latest terms offered by creditors to Athens, in order to unlock billions
Read moreAcording to the BBC, Greece’s economy minister Giorgos Stathakis have said that he believes Greece’s new proposal is acceptable and that there is basis for the formal agreement with Athens to complete the current bailout programme and release €7.2bn of vital funds. EUR/USD is shy with 1.1407 high for now, but it looks like that 1.1460 could be attacked!? EUR/AUD is looking
Read moreI was in the market with the crisis in Ireland, Spain, Portugal, Italy, Greece before, (it’s always Greece)… Well, it’s not easy to trade in the times like that, I’ve been there and try that for several times. All debt criss, deal or not, day by day, week by week, etc. The market is to nervous and the traders don’t know
Read moreIn about 20 minutes (07:30 h GMT), we have an SNB Interest rate decision and Press Conference. Previous key rate is -0,75%! Could we see more cut from Jordan, he said that Swiss Franc is to strong and that it hurts Swiss economy. Let’s see the SNB’s decision!? >>> Edit: 07:40 h (GMT) – SNB leaves Interest rate unchanged at
Read moreBased on the available data from the Deutsche Bank I made this DOVE/HAWK/MODERATE chart, so that we could more precisely see which members are more or less dovish/hawkish. As you can see, there is more dovish FOMC members with average of 1.8 in total, which is not near for the easy hike rate decision in 2015. Data dependent members are: Janet Yellen, Stanley
Read moreIn about 30 minutes (13:00 GMT), Mr.Draghi will have the introductory statement at the Quarterly Hearing before the Committee on Economic and Monetary Affairs of the European Parliament in Brussels. Could we expect some volatility in the euro pairs? Always when Super Mario is talking, especialy in the days like this. Be careful!
Read moreEUR/USD fell sharply true the support after Angela Merkel said, that too much strength in the Euro would limit the effectiveness of reforms in Spain and Ireland. As I see it, they were surprised how the Euro is holding well after Greek deal failure in this week and if it’s not Draghi’s that is dovish, it must be someone else, the
Read moreIn about 15 minutes, NFP and US unemployment data is comig up. Be careful, sharp moves are possible in the market. Previous numbers 223K, consensus is 225K. Unemployment rate is 5,4%! Strong numbers, (over 250K) coud push US dollar strongly up. Lower (bellow 180K) could damage US dollar same way. Let’s see!?
Read moreImagine this, the euro went up after Mr.Draghi and this is the second time in a row after his speech. Well, I was pointed at this support 1.1060/80 in my morning EUR/USD analysis and that was the point of bounce after Draghi was answer at the question about growth. Even the Draghi was more dovish then hawkish in his answer,
Read moreECB leaves Interest Rates on hold at 0,05% that’s not surprise, but there is ECB Monetary policy statement and Press Conference in about 15 minutes, there could be a sharp moves when Mr. Draghi talks!!! Dovish talk from Mr.Draghi could damage the euro you know that, be careful if you are in the euro positions with tight stop loss-es! I
Read moreFOMC minutes coming up in about 30 minutes, 18:00 (GMT). What to expect? I am not expeting anything dramatic today. The members will probably talk about Q1 growth slowdown and that could be challenging for the USD today. What about rate hike? There was speculations about June rate hike, but the members didn’t confirm that in the previous meetings. As I see it and I
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