ECB adds reserves

The ECB announced that they were going to add liquidity to the market. This coupled with what the Fed has been doing certainly should be bring the market around a bit. The Fed sent a clear signal that they would not let a Bank fail with what the accomplished with the Bear Stearns "bailout". I think more and more that enough liquidity will be added globally to prevent a failure. Will this be enough ? Only time will tell, but I think that we could turn the corner on this economy at the end of the year (an upturn that is). I have been consistently wrong with my Eur position's and with my view on European Rates. Luckily Mexico has treated me better. I am looking for the next move in Brazil rates to be up, and for Mexico to remain on hold for now.

Good Luck and Good Forex Trading.