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This happened due to a rumor that Fed-Watcher Jon Hilsenrath is going to release an article in which he states that the Fed will reduce QE3 in the near future.
After that, the Dollar startet to rally so the Euro consequently dropped accordingly.
But bottom line, it was only a rumor, so called 'Floor talk', which happens time and again...
An hour is eternity in trading. What shocks you so much and why you looking for an explanation?
This could be a hedge fund liquidation, a hedger taking on a new longer term position, a huge cash conversion for a foreign entity payroll, etc.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
It's still puzzling that just a rumor can move the EUR/USD as much as an announcement by Bernie or Mario.
As I said before, the big sharks can make a lot of money this way.
Amazing how the Algo world took over and all these machine reading news are affected by one twit.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
