Currency traders had better bring a good book to work for the next few months.
IT APPEARS THAT THERE IS A "LINE IN THE SAND" AT 135 ON THE EURO.
That's still a big range from 125 to 135 but I seriously doubt that 135 will be crossed anytime soon. Absent some huge catastrophe in the US.
All the yada-yada today about the ECB joining the Fed in the dubious ONE PERCENT CLUB, is just nonsense.
It seems that the market has a strange way of translating someones "thoughts" about something to an odd "reality." Go figure!
With the currency markets pulsating quietly, I doubt that the ECB will do anything stupid in March.
That said, the FEBRUARY JOBS DATA could move the market in the first week of March.
WE ARE AT THE POINT NOW WHERE, ONLY UPWARD JOB NUMBERS ARE EVEN REMOTELY ACCEPTABLE.
ANY JOB LOSSES WOULD "FREEZE" GREENSPAN INTO ONE PERCENT RATES ALMOST FOREVER! .........OR MR G's RETIREMENT IN 2006 WHICHEVER COMES FIRST.
So, happy day's aren't here again.....still, lines in the sand are great fun to watch! Aren't they?
And, can gold stay "frozen" even while oil and gasoline continue to rise? And, if gold does go up, doesn't that ipso facto move the dollar down?
Well,....I guess you can always draw another "line in the sand" somewhere else...............and another,.......and another..........
Hmmmm.....sooner are later we are going to run out of "beach." Ya suppose?
