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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 374.96

+0.2%

Nov 19 4:00 PM EST

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To: Haim R. Branisteanu who wrote (85846)	1/13/2012 9:51:45 PM
From: TobagoJack	Read Replies (3) of 217884

just read Some Thoughts on the Euro The euro has come under pressure on Wednesday following comments by Fitch. The rating agency wants the ECB to print more money to 'save the euro'. In short, the ECB is supposed to destroy the village in order to save it. Meanwhile, the market structure in euro futures shows that anyone who wanted to sell the euro has probably already sold it: Net speculative short positions have reached a new all time high. Often the market will not accommodate such one-sided positioning, although it is not a guarantee of anything either. In euro futures positioning data have worked well in the past however. There is a lot of speculation that the euro is becoming the newest carry trade currency - as long as euro basis swaps stay deeply negative, this argument has merit. If this tendency continues, its longer term trend will remain down in spite of the potential for a short covering rally. Alas, euro basis swaps have begun to rally, a sign that the dollar funding problems in the euro area are easing in the new year. acting-man.com

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