Euro (€) Currency Thread

inspector_monkfish

dealsearcher wrote: »

It's already happening Mr. Fish, as my posts this morning show.

Lets be brave and bold then...

April 2nd, around about 12.45pm (London time), will be the time EUR/GBP shoots forthe moon !!

dealsearcher

The ECB has already started technical QE and if the markets think that is what they will do the euro should drop before then. However we have been wondering for some weeks now why bad news out of the eurozone doesn't seem to effect the euro. Is that going to change? :cool:

inspector_monkfish

dealsearcher wrote: »

The ECB has already started technical QE and if the markets think that is what they will do the euro should drop before then. However we have been wondering for some weeks now why bad news out of the eurozone doesn't seem to effect the euro. Is that going to change? :cool:

...not in so many words they haven't. Not like UK or US.
i believe an announcement accompanied with a rate cut on April 2nd will get things kick-started...

dealsearcher

The german chancellor has already stated they don't intend to have any further stimulus to the economy of europe until the present measures have had time to take effect. She was very clear about that at the press conference after her meeting with Gordon Brown recently.

If they were to start overt QE in April that would be a u-turn on that statement. The present measures would take at least several months to take effect and april would be much too soon for any significant effects to be seen.

No, I want the euro to fall but having had a reality check I see it is unlikely to happen in the near future.

dealsearcher

Right. Good morning all. The eurozone is forcast to have a trade balance for January down by almost 2 billion euros. Let's see if that has any effect on the euro.

inspector_monkfish

trading at 1.0665 ahead of EZ figs

inspector_monkfish

10:00 23Mar09 EURO-ZONE JAN TRADE DEFICIT EUR10.5B VS DEFICIT EUR11.1B JAN08
10:00 23Mar09 EURO-ZONE DEC TRADE REVISED TO DEFICIT EUR1.7B
10:00 23Mar09 DATA SNAP: Euro-Zone Trade Deficit Soared In January




LONDON--The euro zone's deficit in trade in goods with the rest
of the world widened sharply in January, while a detailed breakdown for the whole
of 2008 showed that the energy deficit widened to EUR305.7 billion from a deficit
of EUR235.3 billion in 2007.

The European Union's statistics agency Monday said the 16 countries that use
the euro had a combined deficit in their trade in goods of EUR10.5 billion,
compared with a deficit of EUR1.7 billion in December, a figure that was revised
from a deficit of EUR0.7 billion.

Exports from the euro zone declined to EUR94.7 billion from EUR112.2 billion
in December, while imports decreased to EUR105.2 billion from EUR113.9 billion.

The total trade deficit for the euro zone in 2008 widened to EUR335.4 billion
from EUR265.2 billion in 2007 as trade in energy products accounted for the
majority of that deficit, Eurostat said.

Imports of energy - the euro zone imports much of its oil and natural gas -
rose 30% in 2008 from 2007.
Trade in food and drink products recorded a surplus of EUR11.1 billion in
2008, up from a surplus of EUR8.5 billion in 2007.

Among the largest euro-zone economies Germany reported the largest surplus in
2008 as a whole of EUR175.5 billion down from EUR194.3 billion in 2007. France,
meanwhile, recorded a deficit of EUR67.9 billion in 2008 after a EUR49.3 billion
deficit a year earlier.

inspector_monkfish

rate unchanged at 1.0665 (at mom) :rotfl:

inspector_monkfish

wow.. we have really ramped up to 1.0675 !!

inspector_monkfish

wahey... 1.07 !!

(a small peugout!!)