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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (8030)2/13/2004 2:03:37 PM
From: Haim R. Branisteanu  Read Replies (1) of 110194
 
Rumors abound and I really do not know even that it seems as intervention.

For those believing in TA today was exactly 35 days since the January high and also the UDX hit the same level as in January low.

From a fundamental point of view I wrote many times that the EUR above 1.25 is hurting EZ manufacturing sector.

Now with US consumer sentiment lower and higher EUR it will hit EZ even harder as US is the destination of around 245 billion in exports.

Q4 EZ GDP was below expectation and retail sales for January were also weak - therefore it made sense to sell the EUR.

Trade deficit is rear mirror information as most orders were made in Sept/ Oct when the EUR was about 10% to 13% lower from today's levels
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