Just as the ECB steps ups its role in European banking supervision, the ECB president’s banking supervision prowess is being severely called into question.
One day, the splatter from this scandal may start to stick. So far, it has not hurt the euro or Mario Draghi, MPS’s regulator at the time of the problem trades.
After making a new high for the trend at 91.425, the highest in 20 months.
A vote of confidence in Spain’s ability to withstand “evil speculators”. A moderate plus for the euro and a sure sign that the European debt crisis is abating. EUR/JPY through 124.00…
Mario Monti is wilting as a candidate less than a month before a general election. Who benefits? Our old friend Silvio. “He (Monti) has lost his political virginity and cannot be used any more as an impartial saviour,” said Professor … Continue reading
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And the euro rallies. Bad news is good news for the single currency these days. Month-end demand is being blamed for the pop to trend highs at 1.3594. A 1.3600 barrier is rumored, as usual.
When US equity averages outperform their peers, passive money managers need to sell the excess dollars accumulated to rebalance to their benchmarks. This should see some modest upward pressure on EUR/USD at the upcoming 16:00 GMT fixing.
Oh, goody! More Greek discussions. Never get tired of that… The IMF’s Lagarde will attend the eurogroup meeting on February 11 and will attend the G-20 meeting in Moscow in February. The spokesperson says the IMF expects Cyprus will continue … Continue reading
Confirmed: 55.6. Remember, Chicago PMI is released three minutes early to subscribers, so the “leaks” are usually accurate. Watch 124.00 in EUR/JPY, where a barrier is rumored.