Latest trading commentaries...All eyes on Trichet
Mark O'Sullivan, Currencies Direct
The main event of the week is going to be today's press conference held by the ECB President, Jean-Claude Trichet, which will follow the Central Bank's monetary policy setting meeting at 12.45pm. Eurodollar has been quiet so far this week and promises more of the same in the run up to the lunch-time event...
OPEC making the headlines today
Simon Denham, Capital Spreads
OPEC is making many of the headlines today as traders try to assess the impact of a possible break up. It must be feared that the producing nations will actually fail to bridge the looming supply/demand gap. As we have seen in the past a very small supply shortfall can cause a massively disproportionate price rise...
Yesterday’s session dominated by headlines rather than economic data
Duncan Higgins, CaxtonFX
Yesterday’s session was dominated by headlines rather than economic data. The day started with news that Moody’s may downgrade the UK’s credit rating. Comments followed from the German finance minister and the IMF highlighted the fact that whilst a Portuguese bailout has been approved and a Greek resolution may be in the offing...
Will BoE and ECB leave interest rates on hold?
Mark Bolsom, Travelex
European investors will turn their attention towards the Bank of England and European Central Bank, where monetary policy announcements are expected. Both central banks are forecast to leave interest rates on hold.
BoE and ECB rate decisions today
Mark Deans, Moneycorp
On 24 March Moody's issued a statement saying: "Slower growth combined with weaker-than-expected fiscal consolidation could cause the UK's debt metrics to deteriorate to a point that would be inconsistent with an Aaa rating." Investors reacted by knocking two cents off sterling/euro...
Trichet should tread carefully
Michael Derks, FxPro
Of most interest today with respect to the ECB meeting is not the decision on monetary policy, which analysts unanimously expect will result in the refi rate remaining unchanged at 1.25%, but the language used by President Trichet in the press conference.
USDJPY trades below 80. Will it continue lower?
Andrew Timothy Robinson, Saxo Bank
The market remains in risk off mode today, perhaps partially driven by the lack of encouragement on the QE3 front from the Fed’s Bernanke. Meanwhile, how long will USDJPY trade below critical 80 level?
Worried Fed fans rising growth fears
Andrew Wilkinson, Interactive Brokers
A volley of Fed presidents sounded awfully cautious about the economy. Chief Bernanke sounded like a rich parent chiding a badly-behaved adolescent schoolboy as he described the economy at an address late on Tuesday. His acknowledgement of the problem to the school board was accompanied by a second-half “will do better” pledge...
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