ECB and BOE

[john_1]

what time is the anouncment..2pm and 2.45pm please confirm! this GMT clock back this is messing with my simple man brain.

[_nova]

your times are right. I posted it early this morning. But watch out for the US jobs at 15h30. It could whipsaw everything

[PILOT_ROB]

According to CNN.money.com - the rate was cut by 1.5% - is this correct or speculation ?

[MAGICIAN]

Correct

[_nova]

correct, 150bps and expect ECB cut to be 100bps at least now at 14h45. Expected was 50bps but now revised to 100bps. This has potential to cause a serious drop in EUR.

[_nova]

initial reaction in stocks is usually a rally until the eejits realise the rate cut is to try and save a very sick economy

[_nova]

ooooh ECB cuts only 50bps. Mizz Market ain't gonna like that

[#8]

that was a mistake....

[john_1]

that is increadable...Trichet is an idiot.

[_nova]

Trichet the clot, he is so predictable

[_nova]

JPY crosses nosediving, gonna take the EUR down with it

[john_1]

The world need him to cut big time... now we are gonna see the yanks hurting them..Trichet is an Ass

[#13]

ya...bad for wall street...means the dollar will strengthen and US equities hate a strong dollar....the exporters are the only hope at the moment and Trichet has dealt them a blow...

[_nova]

spot on Chartist. Trichet is guaranteed to play dirty. Anyway, I bargained on his underhandedness and ran a nice 106 pip short on EURUSD. Now to look at 15h30 for what I expect will be another short opportunity

[john_1]

The currency markets must be in a spin...is pound must be hurting?

[_nova]

GBP is doing ok because the BOE played fair. Ranging 1.58. It's the EUR that's going to cause consternation. Trichet is obviously trying for a weaker EUR to try and boost exports

[_nova]

Trichet's come uppance would be if the EUR rebounds, then his whole little ploy would have failed and he has just screwed the Eurozone again

[YNWA]

....give us a FX update nova amigo.

[_nova]

Hey YNWA. Sorry man, just after my last post I set my trailing stops and stepped away as I was getting square eyed and that's when I start doing stoopid trades. Anyway, got another 70 pips for the day. I think what we all need to worry about today is just one overwhelming market mover and that's going to be the US data out today from 15h30. Non-Farm Payrolls (NFP) estimate is -175k (previous was -159k) and the market mover will be a reading of -200k or worse. If it is -200k, then the DOW is going to lose it's guts, the USD will go on a rampage, and we will just go down. It's interesting, the EURUSD is just marking time between 1.27 and 1.28 after touching the downtrend at 1.2640. It could very well rally to 1.30 again between now and the US data (any rally will also lift stocks) but I will only go long the USD into any rally on the EUR as ST predicts a rebound on an RSI breakout on 30 min while MT is just down for the EUR. Pivot is around 1.2720. This pm will tell and we'll likely see mega volatility

[HiSo]

Nova, is there a website (without subscription) where we can access that info as soon as it comes out ? If not, could you please update this post with the results as soon as possible after the announcement? Thanks.