Wednesday, September 5, 2012

ECB decision tomorrow

Another big day

ECB meeting / decision tomorrow.  Here's something to think about.  If we get word of "stimulus" in terms of bond buying that should have a deflating effect on the Euro currency, like it did with the US dollar.  This would result in a stronger US dollar.  Problem is, a weaker US dollar has been a big part of the market rally for the last few years, so a strong dollar as a result of Euro weakness as a result of bond buying stimulus would probably not really be a good thing.

If we do get a pop from the ECB meeting, I think there may be some rejoicing over their movement toward fixing their problems, but the deflation of the Euro currency will be a longer term negative for the US market.

Today's scores, not much change:


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