Derivatives

Only a few hours left in the session. So far, more spastic price action.With the ECB hiking rates to 4.25% today, I watched the EUR/USD drop 150 pips in about a half hour. Crazy action. This was due to Trichet indicating that the ECB was on hold. That is when the sell off began. The dollar is up across the board, and the FXE backed off resistance nicely today.Aside from the ECB, non-farm payrolls came in as expected, hence the insignificant amount of buying this morning. 62k jobs were lost, and April and May payrolls were revised lower. …
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