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• Dollar continues to weaken

  as the story, mentioned in an earlier post, in this mornings UK Independent continues to gain momentum. Sterling close to breaking 1.6000, currently trading at 1.5995, Euro-dollar trading higher at 1.4725 and dollar-yen lower at 88.95. Gold on this dollar weakness looking to break 1020.00

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  October 6 2009, 8:37am | Comments »

• Eur/Usd

  Whomever is trying to keep the eur/usd down may as well give up! It is 1.47 bound and more!

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  October 5 2009, 7:52pm | Comments »

• European Morning Forex Wrap Up; cautious start to the week

  ECB’s Nowotny: Level of euro isn’t a major threat right now. It merits scrutiny but no immediate action France’s Finance Minister Lagarde reiterates we all want a strong dollar Japan PM Hatoyama: Does not think Japanese economy has turned around despite fall in Japan’s jobless rate in August. Worries unemployment will worsen into year end Italian September services PMI 48.5, up from 46.4 in August, better than median forecast of 47.1 and highest read since September 2008 Euro zone final September services PMI revised up to 50.9 from flash 50.6, highest read since April 2008 UK September services PMI 55.3, up from 54.1 in August, better than median forecast of 54.5, highest read since September 2007 Euro zone Sentix index rises to -12.6 in October from -14.6 in September, in line with median forecast of -12.0, highest read since July 2008 Euro zone August retail sales -0.2% m/m, -2.6% y/y, slightly stronger than median forecasts of -0.4%, -2.6% respectively French President Sarkozy: Large French bank to repay government aid this week, following BNP lead last week

  When all said and done not a whole lot of net change this morning in what’s been a cautious start to the week. EUR/USD sits at 1.4625 all but unchanged on the day. The pairing rallied early, bolstered by the fact the G7 did nothing concrete to address dollar weakness. ECB’s Nowotny’s comments (see above) were duly noted. We got as high as 1.4655 where we topped out and it’s been a slow drift lower, which never looked like getting out of hand. Talk of sell orders lined up at 1.4660 up through 1.4700 will be inhibiting euro bulls a little. Talk of 1.4600 and 1.4650 option expiries will also be helping curtail price action. Cable at 1.5945 little lower on the day. An early rally took the pairing over 1.6000, but the stay there was short-lived. We’ve got another BOE meet this week and as usual they’ll be some caution ahead of that, although the bank is expected to keep things on hold. The fact that the BOE is likely to keep rates low for some time yet is one of the ongoing negatives for sterling. Better than expected UK PMI services data (see above) lent some very marginal support for a while, but it didn’t last. USD/JPY marginally firmer on the day, presently up at 89.93 from early 89.75, USD bulls so far struggling to chew through touted sell orders, including Japanese exporters, up at 89.90/00. Buy stops said to be gathering up at 90.10.

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  October 5 2009, 1:58pm | Comments »

• Currensee webinar

  Here’s Jamie’s Currensee webinar Link to blog post: http://blog.currensee.com/2009/10/talking-forex-trading-turkey-with-the-experts/ Link to full video: http://www.metacafe.com/watch/3480992/forex_sentiment_volume/

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  October 2 2009, 11:25pm | Comments »

• France’s Lagarde says hopes Geithner’s message on strong dollar will be heard

  French Finance Miinster Christine Lagarde says she hopes US Treasury Secretary Geithner’s message on strong dollar will be heard. She says everybody needs a strong dollar!!! Speak for yourself love, I’d like cable up around $2 so I can go do some very cheap Christmas shopping in New York.

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  October 2 2009, 12:30pm | Comments »

• EU’s Almunia says eurogroup will discuss euro appreciation, to prepare position for G7

  The news has hit EUR/USD pretty hard, selling off below 1.4600, presently at 1.4580

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  October 1 2009, 8:49am | Comments »

• Big bids around 1.4460 in EUR/USD

  My information from a usually reliable source is that the bids are substantial in nature from a Sovereign name. I know its over 100 pips lower but store the information in the cranial computer for future reference.

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  September 30 2009, 1:27am | Comments »

• Dollar gets a small boost at the start of the European trading day

  Dollar-yen briefly breaks 90.00 trading to 90.05 and Euro-dollar and Sterling drop slightly to 1.4623/26 and 1.5909/13

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  September 29 2009, 9:29am | Comments »

• Weekend Price Monitoring

  Is there available data online to monitor what prices are doing on the weekend?

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  September 26 2009, 6:58pm | Comments »

• Question from a novice

  I have been studying forex for 6 months and trading for 3. I understand the concept of risk aversion/risk appetite. Stocks become unattractive, demand for safe haven currency rises. I understand this concept, however I am not clear on how this works. It seems when asian markets dive the yen immediately gains strength. What general transactions are taking place in the banking system to cause the yen to gain strenght. When I sell a stock, the money from the sale is held in my brokerage account. Not sure how this would affect the value of the dollar. Please explain Chris

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  September 24 2009, 11:19am | Comments »

• eur/jpy where is my support

  It amazes me how we can play around in 30-50 pip ranges on EURJPY and then we can run 150 pips down from late us to middle of asia. It appears all major players have closed their orders and no one is supporting the euro. Comments would be appreciated. Did the FOMC Statement scare everyone away? I don’t understand. The euro should be strengthening, and should be putting up a better fight against the yen. Economic data is looking good out of eurozone. Help me understand!

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  September 24 2009, 11:18am | Comments »

• Are the big wigs purposely allowing the euro to get kicked?

  Hi, me again. Another goofy novice question. It appears that there will be possible good news coming out of eurozone, with some German Data. at 8 gmt. Are big players allowing Euro to flow down, in order to reap bigger profits at newstime on the way back up? The euro has been getting punished and in the face of likely good news, does not make sense. Chris

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  September 24 2009, 11:16am | Comments »

• The Human Race

  When I was in college I should have written my thesis about how the human race and the dumbest animals on the planet, because today would have just further proved my point.

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  September 23 2009, 9:29pm | Comments »

• Funny

  I have to admit, I’m getting a good laugh today regarding the upswing in the stock market and risk currencies. This is such a set up for the big guys to come in and push through the small stops and claim their prize. PAY ATTENTION TO FALSE TRENDS PEOPLE!

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  September 23 2009, 7:37pm | Comments »

• SECO Upgrades Swiss GDP Outlook; Sees Sluggish Recovery

  (RTTNews) – Tuesday, the State Secretariat for Economic Affairs raised Switzerland’s economic outlook, while forecasting the recovery to remain sluggish next year. The expert group of the Federal Government expects the economy to shrink 1.7% during 2009, better than the 2.7% decline estimated in June, the agency said. With the global economy running out of steam again in the course of 2010, the government expects the economy to post a moderate growth of 0.4% next year compared to the previous forecast for a 0.4% fall. While making the assessment, the expert group assumed that the current strong global economic upswing dynamics will loose a great deal of its momentum in 2010 with fiscal impulses fading out. But, cyclical upswing dynamics would continue for a longer period following the previous sharp drop in demand. Recession in Switzerland was relatively mild compared to international scale due to a stable domestic demand which partly offset losses in the export industry and the finance sector. Strongest negative impulses on GDP came from a sharp decline in the value added in the financial sector. With momentum picking up slowly, the prospects for the labor market remain bleak. Employment is likely to fall in the coming quarters and would not start to increase before late 2010. The jobless rate is set to rise to an annual average of 5.2% next year from this year’s 3.8%. Regarding consumer prices, SECO expects the phase of negative consumer price development to halt within the coming few months as the price decreasing effects resulting from crude oil prices will disappear in the coming months. Consumer prices are expected to rise 0.9% in 2010. On September 17, the Swiss National Bank kept its key interest rate unchanged at 0.25% for the second rate-setting session in a row. Also, the bank revised its economic outlook for 2009 citing improvements in the global economy and at home. It now expects the economy to shrink between 1.5% and 2% this year. The revisions of SECO and the central bank were in contrast to the assessment of the Zurich-based KOF. The think-tank sees a contraction of 3.3% in 2009, worse than its March’s forecast of a 2.4% shrinkage. For 2010, the research institute expects a GDP decline of 0.6%, while it had predicted a 0.3% contraction in March. Elsewhere, the Federal Customs Administration reported a decline in the Switzerland’s trade surplus for August. The surplus stood at CHF 1.79 billion, down from CHF 2.21 billion in July.

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  September 22 2009, 4:06pm | Comments »

• EUR/USD opens touch easier

  EUR/USD has opened a touch easier in Europe after a subdued overnight session in Asia, presently down at 1.4685 from a North American close Friday around 1.4705. Chinese stocks are getting hit again today (Shanghai index presently down 1.7%), with general risk appetite a little on the wane, and this is weighing on the pairing. Technical supports now at 1.4675/80 and 1.4640, resistance 1.4710/15, 1,4730 and 1.4770. Talk of buy stops gathering just above 1.4770. I suspect sell stops gathering just below 1.4640. Hopefully get confirmation of that in due course. No euro zone economic data releases of note today.

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  September 21 2009, 8:10am | Comments »

• Multi-Screen Computers?

  I wanted to see if I could get some advice from those of you that use these computers. I’ve been searching around for computers with multi-screen capabilities and have found 2 brands so far that look pretty good. This one from Digital Tigers looks pretty good with 3 screen capabilities. http://www.digitaltigers.com/stratosphere-studio-rs3.asp BUT, here’s some from Super PC that look pretty good as well and they’re cheaper than the Tiger’s. I’ll have to add $125 to the price for 4 screens, but I only want to use 3 screens. http://www.multi-monitors.com/SUPER_PC_Multiple_Monitor_Computers_Multi_Screen_PCs_s/23.htm I don’t know a lot about computers at all, so i’ve been checking around the net to get feedback on both brands. It appears that both of the brands seem to have good feedback. Do any of you use either of these brands, or have a brand that you’re pleased with that you could bring to my attention? What do you think of these 2 brands? Etc, etc, etc,? I really want to be “on point” with this purchase, as I don’t have a lot of money to spend. Spending money on a junker pc would be very disappointing, so that’s why I could use some advice. Thanks.

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  September 20 2009, 11:32pm | Comments »

• EUR/USD soft in early trade; buy orders, stops noted

  EUR/USD sits at 1.4705, looking a little soft, in slow early European trade. Chinese shares are seeing accelerated losses, Shanghai index down 3% which will be weighing. Sources note buy orders lined up at 1.4700 down through 1.4680, with sell stops said to be gathered around 1.4675.  On the topside, Asian sovereign selling up around 1.4745 helped cap the overnight rally and as such there will expectations of same on any rally.

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  September 18 2009, 9:42am | Comments »

• EUR/GBP keeps marching on

  EUR/GBP initially stopped at technical resistance around .8935 but even that was not enough to stop the upward momentum. EUR/USD is where we left it yesterday but cable is 100 pips lower, again. There has been talk of good sized bids at 1.6410-20 in the cable but I suspect that there will be a lot of stops just below there as well. We are due for a busy session in Asia after what has been a very quiet week here. Let’s hope today’s the day. Good luck today and TGIF.

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  September 18 2009, 12:19am | Comments »

• Someone light a fire under this market

  Market is dead today. I actually had time to shave this morning during New York open. Can someone please interview a major economist or banker to get my dollar moving?

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  September 17 2009, 7:50pm | Comments »

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