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The euro stays under stress as a record fell in Euro-zone CPI and increasing unemployment makes the odds for rate curve by the European Central Bank next week. Indeed, Credit Suisse sudden index exchanges are now entirely pricing in a 50bp decline by the ECB, and a 50 % possibility of an especially hostile 75bp cut. In the meantime, a Bloomberg News poll indicates that economists anticipate the previous. This simply leaves the choice as one of the most vital pieces of event risk next week, but traders are going to as well need to beware for statements delivered by ECB President Jean-Claude Trichet at -meeting press conference. Mr. Trichet is one of the most dogmatic central bank executives in the industry, and implications that slump is going to be around longer than formerly anticipated in the Euro-zone has the possibility to cause EUR/USD lower the October 28 low of 1.2329.
21:50
Posted on Dec-02-2008
