None of my orders were triggered so far. No trade for Wednesday and Thursday. Aussie dollar seems to be showing a little bit weakness at the moment, maybe it is time for a pull back before attempting 0.95. Let’s see how it goes. I see the same in loonie (USD/CAD) as well. Besides, generally, I see Yen is gaining a little bit strength. It is kinda messy for these pairs.
Thursday was a central bank day. We had ECB Trichet and Feb Ben speaks. DailyFX.com did a nice summary of Trichet’s speech.
Here are more details on what Trichet said:
– Recent data confirm upside price risk in mid-term
– They stand ready to counter upside inflation risks
– Data supports favorable mid-term growth outlook
– Market turmoil means outlook now more uncertain
– ECB needs more information before deciding policy
– Will monitor all developments very closely
– Firm and timely ECB action will prevent price risks
– ECB will act to anchor inflation expectations and this is key amid volatility
– ECB needs to pay great attention to markets in period ahead
– Economic outlook remains solid and sentiment indicators point to sustained growth and they are still above historical average
– ECB sees growth around potential next year and consumption growth will add to expansion
– Balance risks to growth are on downside
– Level of uncertainty around economic outlook high – the risks to growth are from oil and commodities
– Sharp inflation increase is a concern and they think that inflation will be significantly above 3% in coming months
– Additional information needed to decide on rates and the ECB will ensure that price risks don’t materialize.
– Disorderly movements of exchange rates are undesirable for movements to economic growth, brutal moves never welcome and recent moves have been abrupt
– Strong dollar is in the interest of the
Well, technically,I am only looking at EUR/USD at the moment.
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