All Clowns Must Be Destroyed Message Board

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Pastimes : All Clowns Must Be Destroyed

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To: awi who wrote (6715)	2/3/2000 5:18:00 PM
From: pater tenebrarum	Read Replies (1) of 42523

Anko, i think the resistance at $1 will be overcome quickly...there are so many shorts piled up in the Euro, the covering alone could carry us to 1,03-1,04 in no time at all. then there's the perception that the ECB will a) hike rates again at the earliest opportunity b) is now in favor of a strengthening Euro (as opposed to indifference). that will lead exporters to begin selling dollar proceeds to capture the prevailing favorable rates. they will also step up their hedging, which will lead to offsetting Euro purchases by their counterparties every time a strike price falls by the wayside. the same mechanism was partly driving the rally in the yen. the next big thing will be gold...once again favorable fundamentals are piling up while the price stays relatively tame. there's a good chance it will make an explosive move like last year...all that's needed is a trigger and it's off to the races.

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