Here we go again with new “insane” levels against the dollar across the board and taper is right behind the corner to give us a trade of the lifetime. Or is it? While many planning their big long dollar of the lifetime, market movers already in their big short of their own record.
Let’s take a look to what happened trough out the year. The first wave of taper expectations started to gather momentum in June, but with unexpected Bernanke’s assurance “for foreseeable future” EUR/USD printed a record 400 pip daily candle and kept going until September. Then again – just a bit of profit taking and all the fuss in the financial media about not “if”, but “how much” taper will be announced. That day Gold had some buying right in to the moment of announcement – very suspicious developments if you believe that all market participants got “the news” at the same time.
And now – again… Couple of marginally better numbers and speculations began. Let’s face it – employment data is nowhere close to pre 2008 levels and recent two NFP prints is just a non-event, compared to constant 300-400k add-ups in older days.. But, is employment or any other macro data have any importance for the FED at all whe…
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