With the stock market looking like it has that “going to end the day in the negative” feel to it, it won’t be long now until the eur/usd and aud/usd longtraders get nervous and start selling to lock in their profits. Right now it looks like everybody is waiting on somebody to make a move…
-
End of day
- Tags:
- All
September 17 2009, 7:16pm | Comments »
-
Strange low volume trading?
Looks like some strange low volume trading going on with EUR/USD. Obviously 1.47 is a solid support, but I don’t put it past the big money to manipulate the little guys out of their money…
- Tags:
- All
September 17 2009, 1:13am | Comments »
-
Bovine Stock Market
Today is a prime example of why stock brokers and cattle are one in the same. No reason for the market moves today. Pure follow the leader and the leader is a dumbass!
- Tags:
- All
September 16 2009, 8:40pm | Comments »
-
Job Losses in EU
Are these job losses the starting point of second round recession? http://sg.news.yahoo.com/afp/20090913/tts-germany-us-auto-company-takeover-gm-972e412.html
- Tags:
- All
September 13 2009, 4:42pm | Comments »
-
Talk about reversal of fortunes…
Istithmar Said to Halt Investment; Dubai Weighs Sale http://www.bloomberg.com/apps/news?pid=20601087&sid=aB7Po3XKk7HI
- Tags:
- All
September 11 2009, 6:15pm | Comments »
-
Cable extends rally
Cable continues it’s march higher, presently at 1.6370. Continues to be underpinned by robust risk appetite. Personally little surprised it’s got quite this far. Technical resistances now noted at 1.6375/80 and then 1.6400.
- Tags:
- All
September 3 2009, 11:54am | Comments »
-
Fed’s Lockhart: Deficits headed wrong way; US finances face enormous challenges
The US fiscal picture is a sources of concern, Lockhart says, especially as Social Security and Medicare spending escalate in the next few years. His comments are music to the ears of the gold bugs and are helping undermine the greenback. Time for a victory lap…( know, all may bad trade ideas go down the memory hole…)
- Tags:
- All
September 2 2009, 7:55pm | Comments »
-
Beijing’s derivative default stance rattles banks
- Tags:
- All
August 31 2009, 4:32pm | Comments »
-
UK Chancellor
Alistair Darling, UK Chancellor of the Exchequer, was quoted in the UK press this morning saying that the UK is ready to provide an extra $11 billion to bolster IMF resources and that the UK Government will do more to get the economy through the current recession.
- Tags:
- All
August 31 2009, 11:12am | Comments »
-
GM flexes their muscle in Opel talks
According to this article it looks like GM are calling the shots in the Opel talks
- Tags:
- All
August 28 2009, 8:04pm | Comments »
-
Bernanke short of a bob or two
It looks like even the master of the financial universe can’t keep his bank accounts safe from those pesky identity thieves.
- Tags:
- All
August 28 2009, 4:26pm | Comments »
-
Cable ticks higher again
Cable has ticked back up to 1.6325 at writing. Resistances now at 1.6330 and 1.6350/60. I gotta think this rally is more about general profit taking in the EUR/GBP cross than anyone getting excited about the Q-2 GDP revision. The EUR/GBP cross is down at .8790 from an early .8825. Good call Sean. Three cheers…hip hip!!!
- Tags:
- All
August 28 2009, 12:00pm | Comments »
-
FDIC – Troubled banks rises to 416
- Tags:
- All
August 27 2009, 6:55pm | Comments »
-
Nationwide Aug house price index much stronger than expected
UK Nationwide house price index for August has come in at +1.6% m/m, -2.7% y/y, demonstrably stronger than the median forecasts of +0.5%, -3.9% respectively. Cable had moved from 1.6215 to 1.6235 just ahead of the release (did someone know what they were going to be?), and is presently little changed at 1.6230. Little surprising the pairing didn’t get any lift from numbers, but that’s the wild and whacky world of forex for ya. Maybe it just reflects that cable bulls are a little thin on the ground right now. Not a particularly good omen.
- Tags:
- All
August 27 2009, 9:06am | Comments »
-
Nikkei -0.6%, Kospi -0.3%
EUR/JPY tested 133.90 yet again and failed to break below. It has popped back above 134.00.
- Tags:
- All
August 27 2009, 3:03am | Comments »
-
What Kind Of Trader Are you?
Just a very unscientific poll. Do you Scalp?(vote 1) Daytrade? (vote 2) Swing? (vote 3) Position? (vote 4) Hybrid-schizo? (all types of trading) (vote 5)
- Tags:
- All
August 25 2009, 11:50pm | Comments »
-
US consumer confidence rockets higher
The Conference Board’s measure of Consumer Confidence rose sharply to 54.1 in August from an upwardly revised 47.4 in July. Again like last time, little early reaction in Eur/Usd to the news. More so in Usd/Jpy as the pair moves back to 94.50
- Tags:
- All
August 25 2009, 5:01pm | Comments »
-
JPY firms in Asian trade
The JPY has seen across the board strength in overnight Asian trade, with a pick up in caution evident. USD/JPY is down at 94.00 from a North American close Monday up around 94.50, while EUR/JPY is down at 134.50 from around 135.10. Chinese stocks have been hit again. Yesterday’s cautious rhetoric from Chinese Premier Wen Jiabao seems to have hit a nerve there, the official warning “We must clearly see that the foundations of the economy are not stable, not solidified and not balanced. We cannot be blindly optimistic.” China’s Construction Bank has come out and said excess cash in the banking system has led to asset bubbles. This has underscored concerns that lenders will rein in credit, which is helping undermine market confidence. Meanwhile a senior government economist Lu Zhongyuan, vice head of the Development Research Centre, has told an economic forum today, that Chinese investors are over-reacting to talk of monetary policy fine-tuning. He feels the recent slide in stocks will be short-lived. Elsewhere, worries over regional and local US banks have been heightened, with Atlanta-based Sun Trust Banks Inc warning that US financial institutions may report more credit losses as commercial real estate falters. For today in Europe: 06:00 GMT: German Q-2 GDP (final read) expected +0.3% q/q, wda -5.9% y/y, nsa -7.1% y/y 06:00 GMT: Swiss UBS consumption indicator July 07:15 GMT: Swiss employment level Q-2 expected 3.956 mln -0.1% y/y 08:30 GMT: UK BBA loans for house purchases July expected 37,800.
- Tags:
- All
August 25 2009, 8:18am | Comments »
-
Do not adjust your set……..
You spend $40 million on a new TV screen and they only go and put it in the wrong position.
- Tags:
- All
August 24 2009, 7:54pm | Comments »
-
Trichet: I did it my way
JCT, speaking at Jackson Hole Saturday, said that criticism of the ECB for being behind the curve on interest rate cuts was misplaced. “A gradualist approach of this kind may be the most effective antidote to the threat to price stability,” he said. That;s a bit of revisionist history, as price stability was the furthest thing from the central bankers minds in September, October of last year. They were trying to avert the collapse of the global financial system. Whatever! At the end of the day, Trichet and the ECB quantitatively eased with the best of them, and Europe is stirring out of recession. On balance, the central banks have done a nice job of averting catastrophe. Now they need to be nimble in removing the massive amount of liquidity sloshing around in the system. So far, most of it has ened up on deposit right back at the central bank, making it easy to drain.
- Tags:
- All
August 23 2009, 2:41am | Comments »