Tuesday, March 24, 2009

Ughhh Europe

This morning's numbers came in slightly above the consensus projections and the Euro responded by essentially doing nothing. At least part of the lack of reaction is due to this.

After stating this weekend that he didn't envision a lowering of rates because of inflation concerns, JC Trichet announced yesterday that maybe in fact they will in response to lagging growth. This sort of (very) short-term flip flopping should have been covered in Being a Central Banker 101 - let's hope he gets his act together. The increased vol due to conflicting central statements is not something the market needs right now. Sphere: Related Content
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Anonymous said...

In you article titled:

"Tomorrow is going to be big for the Euro"

Anonymous said...
The euro is not going to give up anything, pal.

March 23, 2009 11:04 PM

Seems like you "square" position was the best one to be in. Maybe we should all follow your lead....