Mario Draghi lifted the euro last week, only to crush it now. While he did discuss buying bonds in the open markets, he limited such a move to conditions and committees. The market wanted action, not words, and didn’t buy this verbal intervention.
The verbal intervention seemed disastrous by itself: Saying that the ECB would buy short term bonds sent long term bonds to the sky. Should markets have listened more carefully to his words last week? Or did he expect too much of other factors?
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/draghi-didnt-deliver-overestimated-spain-and-underestimated-germany/"]Draghi Didn’t Deliver – Overestimated Spain and Underestimated Germany[/URL][/I][/B]
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.