Loading ...Strange Bedfellows
After the ECB announcement The Euro Tanked and Gold went UP strongly.
Now the Euro has reversed and is UP and Gold is Tanking
So Gold is Now positively co related with the Dollar.
Wild action from competing forces
Interim Trade Deal Imminent…Bad for Gold
Central Banks cutting and boosting QE…Good for Gold
pass the popcorn
“Wild action from competing forces”
via ZH
Bloomberg is reporting that in an “unprecedented revolt”, ECB governors representing the top European economies defied Mario Draghi’s ultimately successful bid to restart quantitative easing, according to officials with knowledge of the matter.
The unprecedented revolt took place during a fractious meeting where Bank of France Governor Francois Villeroy de Galhau joined more traditional hawks including his Dutch colleague Klaas Knot and Bundesbank President Jens Weidmann in pressing against an immediate resumption of bond purchases, the people said. They spoke on condition of anonymity, because such discussions are confidential.
Those three governors alone represent roughly half of the euro region as measured by economic output and population. Other dissenters included, but weren’t limited, to their colleagues from Austria and Estonia, as well as members on the ECB’s Executive Board including Sabine Lautenschlaeger and the markets chief, Benoit Coeure, the officials said.
Thanks Pedro
The ECB just announced QE UNLIMITED and the Euro is UP !!
Says it all !