today

[bently]

Hi all,
just got in from work this evening and logged on to my demo trade to see a sharp fall in euro/dollar and gbp/dollar at around 2pm gmt. any reasons? just asking on here cos i dont have the time at the moment to find out, kids and all that.....back later.... thanks..

 

[c6ackp]

Hi Bently

[15:41 EUR/USD: Rebounds Limited; Central Banks Sales Rumored] Boston, March 15:
One of the more active jobbers among the European central banks has been spotted
selling EUR/USD on the rebound from 1.3310 session lows, in the high 1.3320s,
dealers note. This has helped cool off the short-covering rally that Greenspan
helped provoke with his usual blunt comments on the need for reduced government
spending and urgent Social Security reform.
Dealers note talk of selling interest in some of the EUR crosses and the 16:00
GMT London fixing, particularly EUR/JPY and EUR/GBP. EUR/USD trades at 1.3325.

That's what the commentators say, but I don't think there necessarily has to be a reason - or certainly not an obvious one. The market tanked 140pips up, that's the GREED part, then made a 99% retracement, that's the FEAR part.

HTH
Steve

 

[bently]

Hi Bently



That's what the commentators say, but I don't think there necessarily has to be a reason - or certainly not an obvious one. The market tanked 140pips up, that's the GREED part, then made a 99% retracement, that's the FEAR part.

HTH
Steve

Bit deep for a newbee like me, but thanks. just wondered if there were any announcements today that may have trigered it. Where can i find a diary of eco announcements that may helpin any decisions I make.

 

[Buk]

t'was the T.I.C data release at 9.00am EST which spurred em on today.....

http://www.dailyfx.com/

just click on the Calendar icon at top of page, should offer you a detailed update on daily releases.

 

[Blether]

As I remember finding it whilst also watching a demo acct at the time, retail sales had little impact but yes, TIC data (inflows of foreign investment capital to the US) were significantly higher than expected. Finally the dollar seen as cheap ?