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楼主 |
发表于 2008-5-10 19:20
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Usd Index
Good Morning, guys
Here is a short excerpt from Jack Crooks regarding upcoming FOMC rate cut next week. The graph attached says it all. For most of us on this Forum it is probably just a confirmation, but it is nice to see second opinion.
""Given the way things stand, I’d say a rate cut of 25 basis points or fewer likely won’t kick off an extended dollar decline. And if the Fed does opt out of rate cuts this time around, it would be a huge departure from expectations leading up to the decision.
That, of course, could kick off a sharp dollar rally.""
Attached Images
Nasdaq chart
Is this the end of this intermediate rally since March 17 in stock market, as evidenced by Nasdaq? If yes, it will have major implications for USDJPY.
My chart below shows that there is a good likelihood that the rally is over effective now.
The retracemnet was only 41% until now, close to fib 38%.
Mike
Attached Images |
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