Eurusd/gbpusd - page 1477
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Guess that it is unemployment claims that leaked (again)
9;30 am GMT ECB Publishes Monthly Report , you never know which of these will spike the markets; later on the jobs report and yellen's testimony may lead to the same.
Guess that it is unemployment claims that leaked (again)
You are probably right. Let see what are the numbers going to be
ECB bulletin could not cause this kind of change (remember what Coeure told yesterday about negative rates). We shall know when the unemployment numbers are published for the rest of us
email from Larry Levin this morning / afternoon (and usually always worth a read)
Confiscation
Confiscation: the action of taking or seizing someone's property with governmental authority; seizure. Theft is a similar word, which is commonly known as the taking of another person's property without that person's permission or consent.
Let’s read about a newly leaked idea from the European Commission that will do exactly this – then you can decide if it is either confiscation, or government sanctioned theft.
From Reuters Exclusive: EU executive sees personal savings used to plug long-term financing gap | Reuters we read - The savings of the European Union's 500 million citizens could be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis, an EU document says.
The EU is looking for ways to wean the 28-country bloc from its heavy reliance on bank financing and find other means of funding small companies, infrastructure projects and other investment.
Said another way, European companies are not investing back into their own companies for future growth, which leads to increased employment…so the European Union is devising ways to force it to happen.
The Reuters article went on to say: The Commission will ask the bloc's insurance watchdog in the second half of this year for advice on a possible draft law "to mobilize more personal pension savings for long-term financing", the document said.
And that says it all: “mobilize” is covert-speak for confiscation…or theft…sanction by government thugs.
I highly recommend reading the whole article as it also mentions how the EU wants to bring back securitization of different so-called worthy assets because, well, the banking mafia is demanding it. The EU also seemingly wants to go the way of the USs “make-it-up-as-you-go-along” accounting rules in our banking sector’s mortgage portfolios.
In other words, banksters do not want rules to stop them from acting the way they did leading up to the 2007/2008 global crash – and the EU is trying to find a way for that to happen.
So you make the call; is it confiscation or theft?
Good luck hiding your money
Eur/usd
The dollar is in demand and gained against major global currencies. The main news was the fact that the U.S. House of Representatives had voted in favor of a "clean" bill (without additional conditions) to raise the limit of public debt in order to avoid a default, as the Reuters reports.
The price fell to the downward trend line 1.3640 and the strong level of support. 1.3640 will be a good resistance for the Euro.
The backflow 1.3640 was in small volumes; therefore the sellers are still active and can lower the price to the support level 1.3570.
People are expecting that taper will stop. Unrealistic. This is not market being irrational, but FED being irrational and it caused all this.
No significant news day. One more ranging day ahead of us (if they do not decide to collect profits, but I doubt it looking at the range that was valid for the last couple of days)
No profit collection this time. Fridays are not what they used to be any more
Not even negative rates talking for ECB is doing anything significant. Seems that FED is doing even worse things than simple negative rates