UPDATE: The Fed are running the economy HOT, EURUSD higher!
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Have a great day everyone!
Have a great day everyone!
First indication that we will end QE this December,
Monthly package will decrease in October from €30bn to €15bn
Tapering is a process, think of the Fed in 2014.
If you look at the yield curve between the US and EU it is priced for more growth in EU as opposed to US. German 2-10 yr is at 110 bps relative to US at 38 bps.
If any central bank should be hiking its EU.
The reaction was a little unexpected, despite the dollar strengthening we have seen precious metals rally. Today is filled with confusion.
For now I am still holding 50% of the position from our buy at 1.154 after closing the other half on Tuesday +2%. It for this reason we reduce our exposure to allow for volatility!