IMF would support ECB rate cut as growth slows

IMF would support ECB rate cut as growth slows

From reuters.com

The International Monetary Fund would support an ECB interest rate cut as euro zone growth is slowing sharply while there are practically no inflation expectations, the head of the IMF's European department said. After two rate rises in the first half of the year which took borrowing costs up to 1.5 percent, the ECB has signaled a pause in the tightening cycle but many economists expect the bank's next rate move would actually be a rate cut. The IMF seemed to share this sentiment. "Monetary policy might be less focused on inflation," Antonio Borges told a news conference. "Inflationary fears right now are practically ... (full story)

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Comment #1
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Sep 23, 2011 9:19pm Sep 23, 2011 9:19pm

FXmobster
| Joined Oct 2008 | Status: Member | 6 Comments

Anyone hearing of huge gap downs in cable and eurusd? I'm hearing EU below 1.3500 and cable dropped 160 pips.

Comment #2
Quote
Sep 23, 2011 9:39pm Sep 23, 2011 9:39pm

egadsforex
| Membership Revoked | Joined Aug 2011 | 134 Comments

Quoting FXmobster

Disliked

Anyone hearing of huge gap downs in cable and eurusd? I'm hearing EU below 1.3500 and cable dropped 160 pips.

Ignored

So where's the gap? E/U closed below 1.35 and GBP dropped 160 pips as compared to what? When?

Comment #3
Quote
Sep 23, 2011 9:56pm Sep 23, 2011 9:56pm

FXmobster
| Joined Oct 2008 | Status: Member | 6 Comments

Here is the link to where I read about it. EU in the 3400's according to the article.

http://www.forexlive.com/blog/2011/09/23/one-final-twist/

Comment #4
Quote
Sep 24, 2011 12:41am Sep 24, 2011 12:41am

Jolly Roger
| Joined Jun 2011 | Status: Member | 1468 Comments

Dont know how this came out on different platforms, but I had about a 30 pip drop, but the fun part is...it was the very last move. Bringing up the pipgraph, it shows a straight line down.

I can assume that all platforms didn't close on the exact second, for the weekend, and in a very fast moving move, this may very well have printed out differently on different platforms.

Something happened in the very last second though, and what that means...don't have a clue what is going on.

The fundamentals on how the situation in Europe is pretty well known, but ....it doesnt explain the move.

Perhaps we are putting too much into it, ....it moved...some big guy closing out with a big position....who knows.

Comment #5
Quote
Sep 24, 2011 3:20am Sep 24, 2011 3:20am

Yao
| Joined Aug 2011 | Status: Member | 668 Comments

AUD dropped almost 100 pips at close, then quickly bounced back.

Comment #6
Quote
Sep 24, 2011 10:30am Sep 24, 2011 10:30am

PipTrapper
Joined Aug 2008 | Status: Persist Until Something Happens | 798 Comments

Here's the answer...
http://www.xe.com/currencycharts/?from=EUR&to=USD&view=1W

It was only a 30 pip drop.

Those who say it cannot be done should not interrupt those who are doing it

Story Stats

Posted: Sep 23, 2011 7:58pm
Submitted by:
Newsstand

Category: Fundamental Analysis

Comments: 6 / Views: 1,457