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Rush For The Exits Out Of The Euro Following Trichet Remarks

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http://www.dailyfx.com/story/dailyfx-finan...keyword=article

Daily FX RSS Trichet Causes Euro to Tumble

Friday, 07 April 2006

Written by FX Research Team

After retreating from a 7 month high against the dollar yesterday in the wake of ECB President Jean Paul Trichet’s dovish comments, the Euro compounded its losses throughout Asian and early European trade as some market participants continued to reduce their Euro-long positions ahead of today’s NFP release. In his post ECB meeting press conference, Trichect, indicated that the market would not see any rise in European interest rates next month.
These comments caused some Euro bearish sentiment in the market triggering a large sell off in the single currency especially against the dollar. However, with a number of Fed official signaling that any further moves in US rates need to be data dependant, the market has now shifted its focus to the US jobs report due out at 12:30 GMT.

There are unprecedented times of doubt and confusion with world bankers leaning this way and that as they desparately try to balance an increasingly wobbling number of plates on too many unstable sticks. Very soon a few plates are going to wobble too much and fall with a crash to the ground. Who will it be to crash first? France? Germany? USA?------UK :o

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http://www.dailyfx.com/story/dailyfx-finan...keyword=article

Daily FX RSS Trichet Causes Euro to Tumble

Friday, 07 April 2006

Written by FX Research Team

After retreating from a 7 month high against the dollar yesterday in the wake of ECB President Jean Paul Trichet’s dovish comments, the Euro compounded its losses throughout Asian and early European trade as some market participants continued to reduce their Euro-long positions ahead of today’s NFP release. In his post ECB meeting press conference, Trichect, indicated that the market would not see any rise in European interest rates next month.
These comments caused some Euro bearish sentiment in the market triggering a large sell off in the single currency especially against the dollar. However, with a number of Fed official signaling that any further moves in US rates need to be data dependant, the market has now shifted its focus to the US jobs report due out at 12:30 GMT.

There are unprecedented times of doubt and confusion with world bankers leaning this way and that as they desparately try to balance an increasingly wobbling number of plates on too many unstable sticks. Very soon a few plates are going to wobble too much and fall with a crash to the ground. Who will it be to crash first? France? Germany? USA?------UK :o

Australia

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Australia

The New Zealand dollar seems to have been sinking like a rock lately: not sure what's up out there, but maybe they'll be the first to crash bad.

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The New Zealand dollar seems to have been sinking like a rock lately: not sure what's up out there, but maybe they'll be the first to crash bad.

A slowing economy is expected to lead to rate cuts apparently. Though I was there last month and to be honest things still seemed fairly bouyant - as an aside, whilst there I looked at a few houses and showed some interest in a two bed rental on a lovely commuter island 20 minutes by ferry from Auckland - gross yield on a £90K investment would have been 12% with nett at 6% if not using it myself - made remortgaging in the UK to fund it look attractive (and if the $NZ falls below 3 to the £ it certainly will be).

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There are unprecedented times of doubt and confusion with world bankers leaning this way and that as they desparately try to balance an increasingly wobbling number of plates on too many unstable sticks.

Love it.

This made me laugh. Thanks RB!

:lol:

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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