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Written by Jack Crooks - Black Swan Capital
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Friday, 01 April 2011 07:46 |
The euro appears contained today. But what's new? The upcoming jobs report is the reason the euro isn't climbing again, even though next week the European Central Bank is highly expected to move interest rates up by 25 basis points. Until then, any developments (like unsustainably high yields in Portugal) related to the Eurozone's periphery countries - positive or negative - likely will not threaten the euro's rise. If the ECB opts not to hike rates, however, and especially if they don't sound very hawkish, then the euro will probably fall of a cliff (at least in the short-term.)
So since finding reasons to be euro-bearish have been useless recently, maybe it makes more sense to find reasons to be dollar-bearish. Here are some soon-to-be-determined events where we should look for clues:
....read Currency Currents 1 April 2011
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