At 3 am Dallas time yesterday, Switzerland did something they promised just two days prior they would not do …. Unpeg their currency. Immediately their currency gained almost 20%. This has already put several foreign currency firms out of business.
Mario Draghi, European Central Bank Chief is now expected to start his own Quantitative Easing (forcing money into the system to spur growth.)
Next week, 22cnd all eyes will be on his actions… should be very interesting.
I am on the road, out-of-state. Monday the office will be closed as well as banks and capital markets in honor of MLK day!
Enjoy your weekend,
John A. Kvale CFA, CFP
8222 Douglas Ave # 590
Dallas, TX 75225