Thursday October 15, 2009 - 18:27:49 GMT
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GVI Forex Discussion Points 15 October 2009 Eveningfrom... GVI Forex Discussion Points..
"Markets were mildly disappointed by the headline earnings data from the big financials on Thursday after they did not exceed heightened market expectations following the JPM data on Wednesday. The immediate equity focus is now on dow 10,000. Not that it is more than just another number, but many are waiting to see if prices settle above or below that benchmark. It is critical to realize that equities and bonds are also carry trades. This is the same as gold, oil and certain currencies. Central Banks have flooded the markets with cash and it has to find a home.
The E-Z finance ministers meeting (EcoFin) Monday is a key focus into the weekend. The main topic reportedly is forex and the weakness of the USD and CNY. The U.S. administration favors a weak USD to push exports. There also is talk of option barriers at the EURUSD 1.50 level..."
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