Monday October 5, 2009 - 19:48:18 GMT
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GVI Forex Discussion Points 5 Ocober 2009 Eveningfrom...
GVI Forex Discussion Points
"The EUR/USD improved over the day Monday in NYC. Equity traders will say the EUR/USD led the S&P higher, while FX traders will point to higher equity prices as leading the EUR/USD higher. In any case, the two traded closely together. It was pointed out that the EUR/JPY did not trade as closely with the S&P. This was because of the unusual USD weakness vs. the JPY.
This is a big week for central bank meetings with the headline decision the RBA announcement tomorrow. The RBA is thought to be considering a rate hike before yearend. This month might be a bit early, but a November or December move is seen as very likely. The RBA is critical because a RBA move would be the first concrete indication that excessive global liquidity is going to be sopped up. No actions by the ECB, BOE BOJ or Fed are still on the horizon..."
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