Is it starting?

Thursday, April 12, 2007

Hmmm...

Relatively hawkish Fed minutes, and EUR/USD is 40 pips higher than when London went home yesterday, with rumours abounding that the Russian central bank is buying like it's going out of style.

Macro Man hears the theme tune from Jaws playing in his head...so he buys €20 million of a 2 week (April 26) 1.3550 euro call for 0.255% of euro face, our about $70k worth of premium. It's a small ticket bet, but if EUR/USD explodes like Macro Man thinks it might, the payoff could be quite large...

Posted by Macro Man at 8:15 AM  

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