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Forex Midday Report- Sept 2
September 2nd, 2010
Forex Midday Report- Sept 2
$/Swiss, Nearing Multi-Year Support
September 2nd, 2010
In the Aug 26th email on $/swiss, said despite the market just above support at the falling trendline from mid July, the near term downside pattern was not "complete", raising the potential for a downside break (and possible acceleration lower). Sold there (then at 1.0250), and the market has indeed
ECB Extends Refinancing Operations, Raises Growth and Inflation Outlooks
September 2nd, 2010
At today's ECB meeting, President Trichet announced to provide unlimited liquidity at least until mid-January 2010 while leaving the main refinancing rate unchanged at 1% for a 17th month. Meanwhile, ECB economists raised GDP growth and inflation forecasts for 2010 and 2011, providing a more upbeat outlook for the 16-nation region.
