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EUR/USD Further Down? PDF Print E-mail
Wednesday, 28 January 2009 21:45
There were two sets of statements made in the last 24 hours that will have an effect on the pair. Trichet, president of the ECB made a statement this morning that basically made most analysts wonder what world he was living in. He basically said he didn’t think there were any bubbles in any sector of the EZ economy as well as making analysts believe that he won’t cut rates in February.

Should the UD hold onto gains it has made this afternoon, it would be widely due to the perception that the ECB is living in Lala Land and the US is tackling the problem head on.  In contrast the Fed’s Statement said

“The Federal Reserve continues to purchase large quantities of
agency debt and mortgage-backed securities to provide support to the mortgage
and housing markets, and it stands ready to expand the quantity of such
purchases and the duration of the purchase program as conditions warrant. The
Committee also is prepared to purchase longer-term Treasury securities if
evolving circumstances indicate that such transactions would be particularly
effective”

In strict appearance only terms, The FED looks like they want to be the leaders in the solving the problem and the ECB looks to be the petulant child.
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jim   |03
Hey guys, just follow the trends and make money with the market not against
it.

richard

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