– German exports surged at their fastest rate in nearly 18 years in March, surpassing even the most optimistic forecast as Europe’s largest economy shifted up a gear after stumbling over the winter. (Reuters)
– No doubt the trade was crowded, as the chart below (from Reuters) shows the massive short position in the euro before this morning’s short covering:
“A child of five would understand this. Send someone to fetch a child of five.” – Groucho Marx
FX Trading – Quantitative Easing Gargantuan!
Party time! Excellent! Impressive! European leaders do know how to spike a punchbowl; that’s for sure. Two objectives to this party: 1) stave off the demise of the European Monetary Union, and 2) Punish those nasty speculators and trigger a massive short squeeze.
….read page 2 HERE