ECB risk moves working? | Forex Factory

  • ECB risk moves working?

    From oanda.com

    It’s done. S&P did what many had only thought they would do. Stripping the US of it’s AAA rating, citing a negative outlook, will provide another hit to an already fragile business and consumer confidence landscape. The US’s fiscal path and its broken political system are to blame. The political scene is ‘so caustic that lawmakers are unable to make the tough choices needed to correct the debt-to-GDP rise’. A future downgrade had been voiced, but a negative outlook on top of a downgrade was not factored into expectations. It suggests a potentially sharper bond market sell off over time with European ... (full story)

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OANDA
Aug 8, 2011 7:44am
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When I was writing, the dollar was under pressure at that moment. However, the incorrect chart was posted (Friday's snapshot). FYI-the graph snapshot goes from a 4pm close to the next day's 4am open. Indeed after posting the dollar again gathered momentum and the values should have been changed to reflect this.
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bhale
Aug 8, 2011 7:31am
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Strange. The story says the dollar is down against 12 of the 16 majors. My charts show that it is up against EUR, GBP, AUD, NZD, and CAD. Down against the yen. Is this from Friday's prices?
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Trader#3345
Aug 8, 2011 7:56pm
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good commentary-- will take me a while to digest, allot of good info
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