Did that just happen !

Well talk about excitement from trusted financial reporters getting it wrong to bears getting upset, the Euro took off. Everyone from Goldmans who saw a 200 to 300 point drop to the average punter expected the Euro to fall on some anticipated very bearish Draghi comments to come. But the markets said No; not today and the depo rate was only cut 10basis point and the euro flew north.

As mentioned last week every participant is hanging off the mere breath of Central Bankers and when the market is disappointed this time of year there is going to be a lot of pain including yours truly.

Lucky for me I heeded my own advice and overall I came out unscathed with my long aud/usd being able to offset my losses on a Euro short but could have played smarter. Anyways that's the game where in lose some win more.

I will be looking for some Euro short opportunities and build a position up but be careful as we are likely to see some volatility over the coming days especially if NFP pulls a big surprise.

Posted in Central Banks, Euro.

Leave a Reply