There has been 2 game changers and another one slated for this Thursday where the European Central Bank (ECB) is expected to do something drastic or face the displeasure and wrath of the markets.
Yet the ECB had offered to buy 1 trillion in bonds over 2 years just a month ago and all that Bank of Japan (BoJ) needed to do was to offer to increase their purchase by 100 billion last week for the fx markets to collapse completely?
That is because 1 trillion is too big a number to toss around and people did the math to realise that ECB is bluffing about it and there is not enough bonds, really, to monetise in the end.
The Federal Open Market Committee (FOMC) ending their Quantitative Easing (QE) took market off guard, to my surprise, because pre-FOMC price action appeared so certain with the EUR and gang rallying ......
There has been 2 game changers and another one slated for this Thursday where the European Central Bank (ECB) is expected to do something drastic or face the displeasure and wrath of the markets.
Yet the ECB had offered to buy 1 trillion in bonds over 2 years just a month ago and all that Bank of Japan (BoJ) needed to do was to offer to increase their purchase by 100 billion last week for the fx markets to collapse completely?
That is because 1 trillion is too big a number to toss around and people did the math to realise that ECB is bluffing about it and there is not enough bonds, really, to monetise in the end.
The Federal Open Market Committee (FOMC) ending their Quantitative Easing (QE) took market off guard, to my surprise, because pre-FOMC price action appeared so certain with the EUR and gang rallying ......
