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JUN 05, 2014 - Zero Hedge

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Not An Algo Is Stirring Ahead Of The ECB's Announcement

In today's abnormally quiet overnight session one could hear a pin, and certainly the USDJPY, drop: with everyone focusing on the ECB announcement in one hour, not a single algo is willing to make any big moves, or even start some momentum ignition, ahead of Draghi's announcement, which absent launching full scale QE, which it won't, will be a disappointment which means the EUR will ultimately move higher after a kneejerk lower as the market forces Super Mario to do even more next time. As Bloomberg adds, a cut in refi and deposit rates is fully priced in and latest price action suggests ... Read More

Tags: Not An Algo Is Stirring Ahead Of The ECB's Announcement,  Estate Tax Latest News