gold soared to life-time highs. Jawboning is a comment by an important government figure, either the central bank governor or the minister of finance/treasurer, saying that the countrys currency is too strong. We also saw the effect in the GBP and euro. In 20, we had a number of instances in the CAD, AUD, and NZD, in which jawboning had the desired effect. Then, other peripheral problems came to light and peripheral spreads began to widen sharply, making it difficult for Portugal, Italy, Greece, and Spain (dubbed the pigs ) to borrow, thus exacerbating the situation.
So we have expected news and unexpected news, and both types of news can inspire trader action that is either short-term or long-term. Geopolitical events and their influence on Forex market was discussed in the previous lesson. In contrast, when a credit rating change is expected (by a series of minor downgrades to the outlook, for example then the given currency may see little or no positive/negative effect. In equities, the price of a stock will go up on analyst forecasts of good earnings, but fall after the earnings announcement even when the earnings surpass expectations. Jawboning is the single test zwei gruppen binäre optionen biggest Forex-moving news event today. As the price approaches the latest consensus line in the sand, you see the dollar/yen wobble in both directions.
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