BOE, ECB and Trichet Speech coverage
Read the full BOE, ECB and Trichet Speech coverage we held on June 5th, 2008.
| BoE, ECB and Trichet's Speech Live Coverage with Dr. S. Sivaraman |
11:47 |
Good morning, good evening and good night to everyone all over the world. Welcome to the new edition of the LIVE NEWS AND MARKET COVERAGE of Major European Central Banks. |
11:48 |
Today we are very pleassed to introduce aor dear friend and contributor Dr. S. Sivaraman who is going to offer you the market comments during the Live Coverage today. |
11:50 |
Dr. S. Sivaraman is 1952 born and got his Ph.D in applied statistics in 1979.He served as professor for 28 years under University of Madras,Chennai ,India..During 23 yrs of his post doctoral work he developed a statistical algorithm to predict the world markets direction,trend,trend reversal,time and levels using astro-physical parameters ('X- Factor ') influencing human decision making and herd mentality which are the main governing forces of the markets world over. |
| 11:50 | [Poll] | Will the BoE keep rates on hold? Yes, they will stay on hold. No, they will rise 25 bp. No, they will cut 25bp. |
11:51 |
Let's start answering the poll we have just published! |
11:52 |
Hi every one This is Dr.Sivaraman of www.i-knowindices.com going to give live market comments and project expected moves during great data release time |
11:52 |
Thanks Dr.! |
11:53 |
What's expected for today? |
11:54 |
It seems we are a lot of people together waiting for the big banks decision... |
11:54 |
[Comment From Darren] A surprise 25 increase! |
11:55 |
Dr. S. Sivaraman: thanks for now we see the dip in euro and gbp -always a false move is seen before the data |
11:55 |
so after the data release some interpretations could be seen and the market is expect ti rise |
11:56 |
so after the data release some interpretations could be seen and the market is expect ti rise |
11:56 |
so now the dips are the buy opportunities in EURO and GBP |
11:57 |
people may see technically a drop in them |
11:58 |
but the market is expected to make a quick rise irrespective of the data release -either positive or negative |
11:59 |
now we look for the data and then continue |
12:00 |
Let's see some of the viewer's comments while we wait for the data of BoE to be released... 1 minute left! |
12:00 |
[Comment From Jay Khanna] If the BoE is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the GBP. Likewise, if the BoE has a dovish view on the UK economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish. - this is from FX.STREET.COM |
12:00 |
[Comment From Ali] just buy euro today because you 'll not see euro on this level for couple of weeks |
12:00 |
[Comment From Jay Khanna] GBP / USD IS 1.9473 SHUOLD IT JUMP HIGHER OR LOWER.. i can see a drop in it .. a little.. but it seems to increase anyway after the 1.9400 support! |
12:00 |
[Comment From Rizwan] sell euro. they gona cut the rate |
12:01 |
BoE rates.... On hold! |
12:02 |
Dr. S. Sivaraman: watch the moves we will get many opportunities to trade |
12:02 |
now no change condition - but the interpretations may be many |
12:02 |
[Comment From Jay Khanna] on hold.. which means no effect in the currency yet.. when would they announce.. |
12:03 |
Jay, Decision has been already announced... They keep rates ar 5.00% |
12:04 |
Dr. S. Sivaraman: actually market rewards patient traders -not the impulsive trader jumping into position |
12:04 |
[Comment From Rizwan] euro 'll maintain its selling trend |
12:04 |
[Comment From wami] That means the rate remains the same @ 5% |
12:05 |
Yes, Wami, it exactly means this. We are awaiting more pieces of news to come from our main source wich will be shortly offering you. Now, you can watch the official data on the BoE website |
12:06 |
[Comment From Jay Khanna] Ok but that was the BOE.. 5% , 11:45 ECB interest rate decision as shown on the calender . . |
12:06 |
[Comment From ms] yes and as for uying eur/usd i would think twice about it unless they raise rates as techniczllly it is not a buy and Bernanke made it clear yesterday that he did not like the level of inflation in the US |
12:06 |
Dr. S. Sivaraman: now the market will wait for 45 min for the next announcement |
12:06 |
there is no big reaction to the unchanged condition - why - because traders are not taking positions before next data release |
12:07 |
this is what happens every time |
12:07 |
[Comment From wami] It appears there is a very strong support just below 1.9460, cable is finding it difficult to penetrate that support in the last 2 hours tho attempts has been made. It appears that support dates back to mid-may |
12:08 |
First piece of news from FXstreet.com: The Bank of England maintains its Bank rate unchanged at 5.00% |
12:08 |
[Comment From Jay K] It shold come down to 1.9410 and then jump up |
12:10 |
[Comment From Kachi] Eur will drop futher and then start to rise after 2mrw.I intend to buy at a further dip |
12:12 |
Our Expert advisor, Tatsuya kawanishi is sending us some currencies movements! |
12:14 |
[Comment From hal] yes correct kachi. eur/usd has going up for long period of time. we'll see next drop for this pair |
12:15 |
Message for all our viewers today: Only market comments will be published. I will try to give answer to other questions and comments throug private messages. |
12:15 |
Tatsuya Kawanishi's market comment: By looking at the GBP/JPY daily chart . the pair is moving sideways in a range of 700 pips. support is seen at 202.81 ( fibo .618) while resistance is seen at 209.14 (previous monthly high). |
12:16 |
Thomson financial is also publishing its news: |
12:16 |
[Comment From Anil] Eur's inflation is high correct? |
12:17 |
yes,, too high... ECB targets at 2.00% but now over 3% |
12:18 |
If you are awaiting ECB data, you can take a look at the preview our editor's team prepared: ECB and BoE � Preview of Jun 5 meeting |
12:18 |
[Comment From Anil] which might mean that ECB might decrease the rate by 0.25% but show hawkish tone as usual =S |
12:18 |
[Comment From ahnasr] but the inflation numbers not hat bad... i mean all world has the same problem |
12:19 |
the market expect the ECB will hold on the ongoing rate today. We have to pay close attention to how the ECB considers the high inflationary pressure in the Eurozone. |
12:20 |
Let's now vote what do you expect for the ECB |
| 12:20 | [Poll] | Will the ECB keep rates on hold? Yes, they will stay unchanged. No, they will rise 25 bp. No, they will cut 25bp |
12:23 |
[Comment From hal] recent data show that eur zone has lot of -ve value. will ecb cut interest rate? |
12:23 |
[Comment From pipsworld] If the Interest Rate are kept on hold, what would be the immediate effect on the Euro ? |
12:23 |
[Comment From sajjad] what u think aboueuro itreste rate be up or down? |
12:23 |
This really depends on what the ECB conference shows later on. Meanwhile the U.S economy shows a gradual recovery. Yesterday Bernanke's hawkish outlook gave a hand to the USD, the USD/JPY moved above the 106.00 level. |
12:23 |
[Comment From Anil] if it remains the same and ecb shows a hawkish tone it will rise up. |
12:24 |
Dr. S. Sivaraman is back. He experienced some technical issues, but the problem is solved now. He will try to give you answer to your questions |
12:25 |
Dr. S. Sivaraman: it could be unchanged because they donot want to put pressure on US to reduce further as it is lowest in US -ECB could hold |
12:25 |
[Comment From Anil] that's wat happened last time if i remember |
12:25 |
[Comment From ahnasr] i think no big moves, just like last months and the american data moves everything |
12:25 |
EURO and GBP can rise for negative US data also |
12:26 |
[Comment From dennis33] who was that |
12:26 |
Dr. Sivaraman's comments are alwauys displayed in bold text. thanks! |
12:27 |
Dr. S. Sivaraman: market actually uses the data release time as trigger only and need not react to the data relatively all the time |
12:27 |
Tatsuya Kawanishi: ECB council member Axel Weber showed a hawkish attitude suggestiing "rise the rate by 25 bp in the near future |
12:27 |
[Comment From Anil] looking at the change in GBP/USD after the rate remained the same , EUR/USD might follow suite. |
12:28 |
Dr. S. Sivaraman: now we see euro and GBP are firming up - why? - when the first trigger time is over the move is in anticipation of second trigger time |
12:29 |
[Comment From Sun] For the "moderator": Thanks for not putting any of my comments, and letting useless questions like this: [Comment From dennis33] who was that |
12:30 |
Hi Sun, I am receiving more than 10 comments every second... It's really hard to manage this, hope you understand and beg your patience. |
12:30 |
Dr. S. Sivaraman: keep in mind the move before data is always false move of the operators and they make their intentional move after the data- their moves are related to pending positions of the traders |
12:31 |
the net long and shorts of the traders |
12:31 |
More pieces of news coming from Thomson Financial |
12:33 |
Dr. S. Sivaraman: whether the rate is altered or unchanged the market continue to swing - that is market - because -only when the market swing the traders will be induced to take position or cut holding positions they are circular traders - when predominant of the traders are here watching who is making the market moves now? |
12:33 |
[Comment From Sun] Dr. Which do you think will influence more in the eur/usd pair, the ECB decision or the nonfarm payrolls and other results from tomorrow? |
12:33 |
Dr. S. Sivaraman: Nonfarm will show the big move tomorrow |
12:34 |
EURO and GBP are expected to go above earlier high of this week tomorrow - before that the downward stop hunt move is completed now |
12:35 |
USD/YEN has reached 106 area and will slowly rise along with EURO and GBP today and tomorrow as contrarian move |
12:37 |
Dr. S. Sivaraman is cotributing on FXstreet.com with a new blog called FX Market readings: http://marketreadings.fxstreet.com/. I really recommend you to read it. You can Subscribe to the blog feeds: http://marketreadings.fxstreet.com/index.rdf |
12:37 |
[Comment From samkib] How can I profit from the ECB Interest Rate decision ? |
12:38 |
Dr. S. Sivaraman: I was explaining the big players make false move before the data release time and make the real move after data release so the dips were buy opportunities now |
12:38 |
keep in min unless EURO/GBP goes below 0.7800 and stay for a day- EURO and GBP will not make any big drops or downward shift in trading zone |
12:38 |
so during drop you can buy and during rise you can book profit and sell - the range should be of 200-300 pips |
12:40 |
Let's review some analysts comments |
12:40 |
Our editor in Chief, sandra Garcia is picking the most relevant comments from the main analysts |
12:41 |
Stephen Robertson, BRC director general: "Struggling customers and retailers certainly need a boost but, with rising oil and commodity prices stoking inflation to well above the 2 percent target, leaving rates unchanged was the wise option. Though inflation is being driven by global price rises which will not be affected by keeping UK interest rates high, the Bank could not risk further fuelling inflation by stimulating domestic demand at this stage." |
12:41 |
Ian McCafferty, chief economic advisor at CBI: "The Bank had little option this month other than to leave interest rates on hold - oil and commodity prices are still of great concern and businesses are having to raise prices as profit margins get squeezed further. We have yet to reach the peak in inflationary pressure, even though we still expect the rate of inflation to fall back markedly through 2009." |
12:42 |
All the analysts comments she picks can be found in the section: http://www.fxstreet.com/news/analysts/ |
12:42 |
[Comment From samkib] Inflation is back and with credit default swaps and deep housing contraction, the besst thing is to keep the rates unchanged |
12:44 |
All Analysts comments about BoE and GBP can be found at: http://www.fxstreet.com/news/analysts/gbp/ |
12:44 |
ECB Decision... 1 minute left!!!!!!!! |
12:44 |
[Comment From dennis33] dr what about Ivey PMI |
12:45 |
Dr. S. Sivaraman: I always advise my trader friends to diversify and spread the risk - ie instead of taking all the positions in 1 level thinking that could be the lowest during buy or highest during sell,take only less position at a given time and see the market continue to give opportunities to average and earn easily without any strain. it is expected to be flat - still USD/CAD will rise. |
12:45 |
ECB: ON HOLD!!! |
12:46 |
[Comment From KALA] Long term view on cable |
12:47 |
[Comment From KALA] Long term view on EURO |
12:48 |
Dr. S. Sivaraman: EURO and GBP will make one final attempt of upward stop hunt and then slide- I am expecting EURO to reach 1.5650-1.57 area and GBP -1.98-1.99 area to be touched before the fall in EURO to 1.49 and GBP t0 1.90 area in this month and early next month. |
12:49 |
FXstreet.com's stroy: ECB maintains its Refi Rate on hold at 4.0% |
12:49 |
Dr. S. Sivaraman: now UK and European data release are over - the market has to now move in anticipation of US data- this is how the market moves are made - the media helps a lot in creating suspense and tension to traders |
12:49 |
[Comment From Anil] ECB conference will change it all just like the FED |
12:50 |
More pieces of news coming from our main Nes sources: http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=6076cc1d-84fb-4113-a48e-3065c7fc07cb |
12:50 |
Last link belogs to a Dow Jones story |
12:51 |
[Comment From ms] yes now it's what Trichet is going to say |
12:52 |
We will wait until trichet's speech. It will be broadcasted from the bank's site: Live webcast: press conference at 12:30 GMT |
12:52 |
[Comment From ms] last time u gave us the link to listen to MrTrichet live |
12:52 |
I have just given it  |
12:53 |
Dr. S. Sivaraman: when EURO and GBP rise many expect USD/YEN and USD/CHF are to drop - this time they will rise all the four pairs to handle their crosses for monthly trend reversal - ie upward extended stop hunt and then drop EURO and GBP and continue to rise USD/YEN and USD/CHF |
12:54 |
still EURO and GBP will rise -giving the interpretations that the data is not promising for future job creations |
12:55 |
[Comment From samkib] will the usd/jpy break or touch the 110 levels when the euro and cable are heading north ? |
12:55 |
[Comment From dennis33] dr what do you think we be the ECB Press Conference negative or positive |
12:55 |
Dr. S. Sivaraman: conference will be optimistic only. |
12:55 |
[Comment From Anil] as always it will be hawkish |
12:56 |
[Comment From Guest] What could happen if there is a surprise in NFP, I mean above expectations of -56K ? |
12:57 |
Dr. S. Sivaraman: still EURO and GBP will rise -giving the interpretations that the data is not promising for future job creations |
12:57 |
Dr. S. Sivaraman: USD/YEN is expected to make less correction and more rise moves - so we will see 114 reached in a month- avoid shorting that pair- try to long during drop near low - because they will hold near high for longer time and hold near low very briefly |
12:58 |
[Comment From fxwealth] how about gbpjpy? what's your take on it please? |
12:58 |
Dr. S. Sivaraman: We will see USD gaining moves from mid next week and that will last for 2 months |
12:59 |
GBP/YEN 209 will be the high and 201 will be the low in the range bound swing expected this month and next month |
1:00 |
Dr. S. Sivaraman: YEN crosses have finshed all the extended moves in the name of carry trades |
1:00 |
[Comment From priya] long on GBP is good for long |
1:01 |
TATSUYA KAWANISHI: The USD/JPY daily chart, Macd shows a positive cross ove that is considered as bullish momentum.. if we see further upward pressure, considerable target would be at at 108.50/60 ( resistance) |
1:03 |
Dr. S. Sivaraman: USD/CAD has finsihed its below parity moves - it will gain all the lost levels and catch up with USD/CHF and move above before usd/chf in this month |
1:03 |
[Comment From in with a loss] I'm currently having a major loss on USD/JPY. Would it be smart to take the loss? Do you see any possibilities that this pair will drop to 104.00 again? |
1:03 |
Dr. S. Sivaraman: USD/YEN take loss during drop to 105.25-40 area and turn long there to recover the loss to close above 107 - if you have the holding capacity of the position |
1:04 |
Dr. S. Sivaraman: only in this week and early next week EURO and GBP are expected to rise quickly making extended stop hunts and then slowly slide and slide |
1:04 |
[Comment From jack1] 106 or 106.5 is the down trend line, this line seem still hold, so bullish is not sure at momentum. |
1:06 |
Dr. S. Sivaraman: market makes suprises only by breaking support and resistant lines |
1:06 |
[Comment From Anil] apparently it really seems that eur/usd is waiting for the speech to make it's proper moves =S |
1:10 |
[Comment From Jay K] dr. the boilinger bands are huge.. its risky |
1:10 |
Dr. S. Sivaraman: bolinger bands give only the expected range - but it can be broken by the market - there is no hard rule that it should not be broken by the big players |
1:10 |
EURO will rise towards close of this session from 12:30 -13:00 gmt |
1:11 |
Dr. S. Sivaraman is cotributing on FXstreet.com with a new blog called FX Market readings: http://marketreadings.fxstreet.com/. I really recommend you to read it. You can Subscribe to the blog feeds: http://marketreadings.fxstreet.com/index.rdf |
1:12 |
Message for all the viewers: We are triying to give answer to all your questions. Please, be patient. |
1:12 |
[Comment From ftse100] what about moves in eur/jpy? |
1:13 |
Dr. S. Sivaraman: EURO/YEN will rise to 165 -167 area before the drop to 156 area - for that they will rise EURO/USD and also USD/YEN and then drop EURO and rise USD/YEN nominally |
1:15 |
[Comment From sam] i dont think so eur/yen will drop from here |
1:15 |
[Comment From Dbista] Is tht Euro retracement or reversal? |
1:15 |
Dr. S. Sivaraman: Month beginning Trend reversal is on in EURO and GBP - so before the big drop the big players will rise quickly for 2-3 days and is called extended stop hunt and then drop and drop quickly to lower trading zone- so that the traders also become bullish and buy during drop and those taken shorts would have stoppedout out of margin fear during such rise thinking it can visit 1.62 |
1:17 |
Dr. S. Sivaraman: Month beginning Trend reversal is on in EURO and GBP - so before the big drop the big players will rise quickly for 2-3 days and is called extended stop hunt and then drop and drop quickly to lower trading zone- so that the traders also become bullish and buy during drop and those taken shorts would have stoppedout out of margin fear during such rise thinking it can visit 1.62 |
1:17 |
Sorry, the last comment has been posted twice |
1:17 |
in the market quick moves are all false moves - during that time the big players make circular trades and gain quickly levels without taking good volume positions- but that will create psychological fear and mental block for the traders to make distress decisions |
1:19 |
TATSUYA KAWANISHI: Technically speaking, resistnace at 164.50 level would be hard to break through (EUR/JPY) |
1:19 |
[Comment From jack1] why can eur-usd go to rise for today, given it is under down trend, and near testing 1.5300 soon? |
1:20 |
Dr. S. Sivaraman: the market has to give surprise - if it moves as per the expectations of the traders then the traders will not lose at all- do you agree |
1:20 |
breaking supports and resistances are the main tasks of the big players to hit the stops and earn huge money |
1:22 |
[Comment From Jay K] downtrend will only be till 1.5350 only |
1:23 |
Dr. S. Sivaraman: EURO is expected to rise to 1.5650-1.57 area and then drop to 1.49 quickly - you might be aware the market takes longer time to gain levels and lose the levels in shorter duration -because of the herd mentality of the traders |
1:23 |
[Comment From NAMBIAR] EURO CAN TOUCH DOWN 1.5435,THEN THERE WILL BE A REVISIT TILL 1.5700 AGAIN.OVERALL TILL JULY END EURO WILL DOWN UP TO 1.5100 |
1:23 |
Dr. S. Sivaraman: emotions of the traders are triggered nicely only when the psychological levels are broken - the big players know the game well |
1:25 |
[Comment From fxdot] ANything significant in Trichet speech ? |
1:25 |
Dr. S. Sivaraman: not really - only thing is he is optimistic of the economy - it is his duty to make such optimistic statements |
1:26 |
the data,events and speeches are all for the momentary moves of the market only and the real growth story is the drive behind the market |
1:26 |
[Comment From NAMBIAR] YES, IT WILL BE POSSITIVE TO EURO ZONE |
1:27 |
2 minutes left for trichet's Speech. It will be broadcasted from the bank's site: Live webcast: press conference at 12:30 GMT |
1:28 |
Next question is not directly directed with today's coverage, but we found it interesting. |
1:28 |
[Comment From Jay K] Dr. what do you think abouto the book " Japanese Candle stick charting explained " do you agree to the fact that candle stick charting is the most precise and accurate in date representation? |
1:29 |
Dr. S. Sivaraman: candle stick is nothing but the price action in a given time frame with weighted averaged low and high represented - the main fact is that can the candles give future projections of the market - you know well the statements- the past performace does not guarentee the future |
1:29 |
[Comment From Anil] i guess it depends on how u interpret the datat |
1:30 |
i stopped using all the conventional statistics as they have the limitations in oneway or the other |
1:31 |
Trichet is about to start his speech. It will be broadcasted liv from the bank's website: Live webcast: press conference |
1:31 |
Dr. S. Sivaraman: charts can be used to see the past performace of the market and cannot be depend on its projections of the future - because statistics does not discriminate the positions of the traders from that of the big players or operators |
1:32 |
An analyst comment from Commerzbank will help us to preview what will be Trichet's speech today: |
1:32 |
Antje Praefcke, currency strategist at Commerzbank Corporates & Markets: "The press conference will be watched and the euro could come under more pressure if the growth projections are revised lower and if Trichet does not offer a counter-argument to Bernanke's comments (about a weaker dollar)." |
1:33 |
Latest pieces of news about USD from Dow Jones: Dollar Extends Lead Vs Rivals Despite ECB, BOE Rate Votes |
1:34 |
[Comment From Kamal] DR.Sivaram sir, what you expect euro market after 12.30gmt? |
1:34 |
Dr. S. Sivaraman: EURO will rise during rest of the day - but it may not appear that way - what is visible in the market is not true - hence traders get deceived frequently |
1:35 |
Some information about Jobless Claims while we listen Trichet |
1:37 |
[Comment From Wami] Jobless Claims Data were a bit better than expected in the US, can that have any significant effect on Cable and Eero in the short term? |
1:37 |
Dr. S. Sivaraman: no - a small dip will be the reaction for the trader so short or cut their long positions - but euro and gbp will firm up |
1:38 |
Dr. S. Sivaraman: 0-30 pips swings are normal market moves - data release need not be taken as atribute for the same |
1:39 |
[Comment From ahnasr] what is cable good buying price? |
1:39 |
Dr. S. Sivaraman: cable has not broken its low 1.9464 formed earlier in this session - so it will not go down. near low is buy opportunity, |
1:41 |
[Comment From Ayman Saif] what is the base level (support) for uro in the current session |
1:42 |
Dr. S. Sivaraman: today's low 1.5366 should be held and they will break the high 1.5454 today |
1:42 |
[Comment From ahnasr] i think cable will go up so high pushed by its crosses |
1:43 |
For all the viewers: Just inform you Dr. S. Sivaraman has his own blog on FXstreet.com, He covers the markets there and post interesting comments. You can even read it: http://marketreadings.fxstreet.com/ or subscribe to the feed: http://marketreadings.fxstreet.com/index.rdf |
1:44 |
Dr. S. Sivaraman: About Trichet's Speech... Nothing new is heard |
1:44 |
[Comment From NAMBIAR] EURO CAN REVISIT AGAIN 1.5700 AGAIN WITH IN A WEEK, LOW IS FORMED 1.5365 |
1:46 |
[Comment From NAMBIAR] BUT WITH IN COUPLE OF WEEKS EURO WILL BREAK 1.5000 |
1:46 |
[Comment From Guest] what was result of ECB speeches |
1:46 |
Dr. S. Sivaraman:no significant change in the economy - it does not mean the market has to remain as such - it will make big moves |
1:46 |
[Comment From bakti] i think the euro/usd will fall in the coming weeks |
1:49 |
Dr. S. Sivaraman: market moves will be commented based on technicals and fundamentals alternatively- but it is hard for such commentators to say which one has to be used for next move - hence most experts prefer market comments rather than forecast |
1:49 |
[Comment From ahnasr] i think all what they say, from europe england us , is meant to push oil low |
1:49 |
[Comment From NAMBIAR] GOLD CAN TOUCH DOWN $700/750 LEVEL, THEN THERE WILL BE A HUGE RISE IN GOLD UPO TO $1300 |
1:52 |
For all those who are enjoying this coverage, just inform you TOMORROW we will be offering a DOUBLE COVERAGE of the NonFarm Payrolls. From FXstreet.com HOMEPAGE and CALENDAR, we will be covering the news coming for the most relevant US data (12,15 GMT 08,15 EDT). From the Live Section, Wayne McDonell will be hosting his popular WEBINAR: Trade non-farm payrolls Live. This will be the 25th edition of this event. |
1:54 |
[Comment From ahnasr] i think all what they say, from europe england us , is meant to push oil low ,,, they dont care if euro is 1.6 or 1.5 doesnt matter as oil at these levels. yesterday euro moves around 70 points while oil moves around 4 dollars |
1:54 |
Let's pay attention to the USD now! |
1:56 |
Dr. S. Sivaraman: USD lost its hold from late 2005 - early 2008 because of the multi year trend reversal time - now on we will see USD gaining gradually - however we will see EURO and GBP making upward stop hunt moves. not now under 1.54 for the time being. |
1:57 |
[Comment From payroll] Can we expect to see a dip in the USD when the payrolls are out tomorrow since it's expected to come out negative? |
1:57 |
Dr. S. Sivaraman: YES - EURO and GBP will rise for that - but also USD/YEN will rise - so understand that it is not usd sentiments all the times |
1:58 |
see euro now |
2:00 |
Trichet is in the Q&A time... Let's wrap-up this coverage. |
2:00 |
Just inform you Dr. S. Sivaraman has his own blog on FXstreet.com, He covers the markets there and post interesting comments. You can even read it: http://marketreadings.fxstreet.com/ or subscribe to the feed: http://marketreadings.fxstreet.com/index.rdf |
2:01 |
Dr. S. Sivaraman: market moves have many atrributes - but the main cause of the market moves are nothing but the herd mentality of the traders - when traders all turn short market will rise and when traders all turn long the market will drop - so market means trap moves - big players trap small traders- we need to learn to swim in this market - otherwise we may lose the shirt |
2:03 |
Last story: Trichet warns about higher than expected inflation for a longer time |
2:05 |
Time to conclude now. I would like to thank Dr.Sivaraman very much  for his help today and for his excellent comments. I am sure all of us will take advantadge of it. |
2:05 |
Dr. S. Sivaraman has his own blog on FXstreet.com, He covers the markets there and post interesting comments. You can even read it: http://marketreadings.fxstreet.com/ or subscribe to the feed: http://marketreadings.fxstreet.com/index.rdf |
2:06 |
We offer you the Jean-Claude Trichet Introductory statement as a recommended reading. |
2:06 |
For all those who are enjoying this coverage, just inform you TOMORROW we will be offering a DOUBLE COVERAGE. From FXstreet.com HOMEPAGE and CALENDAR, we will be covering the news coming for the most relevant US data (12,15 GMT (08,15 EDT). From the Live Section, Wayne McDonell will be hosting his popular WEBINAR: Trade non-farm payrolls Live. This event arrives to its 25th edition! |
2:06 |
Thank you very much! See you toorrow!! |
2:09 |
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