Euro near its high - Jean-Claude Trichet signals actions from European Central Bank
Karen Zuba
Mar. 10, 2008

The Euro has gone up aginst the US Dollar relentlessly. But the curremncy may have finally reached the climactic blow off seen at the end of every bull market. Analytical model point to a steep correction in Euro and gold. Both are bullish on the long term but on an intermediate bassis can correct as high as 35%.

The policy decisions of the European Central Bank (ECB) is crucial. At meeting of the world’s central bank governors in Basel, Switzerland, Jean-Claude Trichet signalled probable actions from European Central Bank. It can be a mixture of interest rate cut and coordinated buying of dollar by the central banks.

It seems ECB is more worried about eurozone economic growth than it had previously acknowledged. The ECB actions supporting US Dollar will require US approval. That may be the case, some say, based on Feds recent actions.

Euro near its high - Jean-Claude Trichet signals actions from European Central Bank
Karen Zuba
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