EURUSD - Trends, Forecasts and Implications (Part 3) - page 872
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I thought there was a website with his personal markings
The situation is very similar to the attempts to break 1.45. Then they tried to break through four times too, but failed, then rolled back to 1.417 and from there went up to 1.456. At the moment there was already fourth an attempt, so now it might be a serious drop to 1.47, especially if something is to be said about Portugal. I think that a correction of 200-300 pips is about to begin, and then a recovery to 1.49 or higher may follow the comments of the ECB. And maybe it is a trick to make people think that it looks like they went to Buy on the way down, but there will be no Buy?
Margaret, can you tell me what they're saying about Portugal, because the terminal is silent?
I have been reading this thread since the first part, the general motto is "Bet against the trend", don't hope for an uptrend, it is better to sit on the fence.
2011.05.03 21:43:32 *Portuguese Prime Minister: Bailout agreement does not affect 13th and 14th month for salaries
2011.05.03 21:44:13 *Portuguese prime minister: Bailout agreement does not include wage cuts
2011.05.03 21:45:02 *Portuguese Prime Minister: Bailout agreement covers three years
2011.05.03 21:45:33 *Portuguese prime minister: Budget deficit to be set at 3% by 2013
2011.05.03 21:46:30 *Portuguese Prime Minister: No further budgetary measures needed in 2011
2011.05.03 21:47:23 *Portuguese Prime Minister: IMF and EU agree to change budget deficit targets
2011.05.03 21:48:17 *Euro rises against dollar amid agreement on bailout for Portugal
Portugal, Prime Minister: the government has reached agreement with the IMF/EU on a bailout plan
- No need for additional fiscal discipline; all measures are similar to those in the rejected plan
- No cuts in minimum wage rates are envisaged
- Social security system will not be privatized
- The deficit in 2011 will be 5.9 percent of GDP (previously estimated at 4.6 percent), in 2012 - 4.5%, to be reduced to 3% in 2013
2011.05.03 22:31:17 *American Petroleum Institute /API/: US distillate stocks for the week -1.492 mb
2011.05.03 22:30:1503 22:30:15 *American Petroleum Institute /API/: US gasoline inventories for the week +0.68 mb
2011.05.03 22:30:19 *American Petroleum Institute /API/: US refinery utilization 82.2% vs 81.6% for the week before
...eurozone debt market is showing interesting dynamics - Greek 10-coupon yields fell by more than 40 basis points to 15.2% on Tuesday. Such a sharp decline in the yields of Greek securities unwittingly overshadows the subject of a possible restructuring of Greek debt, which is positive for the euro.
.... Eurozone producer price statistics came out in a positive way for the euro. The relevant index posted the sharpest annual increase in two and a half years in March (value 6.7%, forecast 6.6% previous value 6.6%). Overall, the statistics reinforce expectations that the ECB will hike interest rates again as early as June/July.