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Eur/USD Exch rate - warning for anyone with a lot of US$ in poker accs

  • 16-09-2007 7:39pm
    #1
    HiCloy
    Registered Users, Registered Users 2 Posts: 1,080 ✭✭✭


    Just to let anyone know the US Fed Interest rate decision is lunchtime tuesday, and this could cause the Eur/USD exchange rate to jump.

    Usually these things are known pretty well in advance and there's little market reaction, but here the average economic forecasters prediction is a 0.435% drop in the main rate (the mode is 0.5% fwiw), so I'm guessing whatever the decision is will lead to a bit of a change in the exchange rate

    May be the time to get the winnings out!


Comments

  • #2
    sikes
    Registered Users, Registered Users 2 Posts: 2,563 ✭✭✭sikes


    lol, economic forecasters.


  • #3
    HiCloy
    Registered Users, Registered Users 2 Posts: 1,080 ✭✭✭HiCloy


    sikes wrote:
    lol, economic forecasters.

    Yeah I agree, but usually it's so obvious ("strong vigilance" etc) they all get it right


  • #4
    BigCityBanker
    Registered Users, Registered Users 2 Posts: 4,751 ✭✭✭BigCityBanker


    sikes wrote:
    lol, economic forecasters.

    The same ones who predicted 12 of the last 0 recessions?


  • #5
    Macspower
    Registered Users, Registered Users 2 Posts: 3,201 ✭✭✭Macspower


    so should I take my roll off the poker site in usd and put it into my euro neteller account and move it back on tuesday = profit?


  • #6
    dK1NG
    Closed Accounts Posts: 661 ✭✭✭dK1NG


    HiCloy wrote:
    Just to let anyone know the US Fed Interest rate decision is lunchtime tuesday, and this could cause the Eur/USD exchange rate to jump.

    Usually these things are known pretty well in advance and there's little market reaction, but here the average economic forecasters prediction is a 0.435% drop in the main rate (the mode is 0.5% fwiw), so I'm guessing whatever the decision is will lead to a bit of a change in the exchange rate

    May be the time to get the winnings out!

    So, what happened???

    Not much I'm guessing:confused:


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  • #7
    HiCloy
    Registered Users, Registered Users 2 Posts: 1,080 ✭✭✭HiCloy


    dK1NG wrote:
    So, what happened???

    Not much I'm guessing:confused:

    They cut rates by 0.5%. The dollar hit a record low of $1.3964 to the Euro. That's not a particularly big moive, it was around $1.38 before

    Here's the story if anyone's interested

    Dollar Falls to record low against the Euro

    Fed slashes interest rates


  • #8
    ollyk1
    Closed Accounts Posts: 2,533 ✭✭✭ollyk1


    Well if you are with ppp why not use http://www.paddypowertrader.com/
    and hedge your risks?

    In fact someone should suggest to PP that they contact their big money players to consider their $$ exposures.....in fact someone did...:p


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