Start packing your bags Gordo!!!
-
Tories crush Labour in Norwich North by-election
- Tags:
- All
July 24 2009, 3:50pm | Comments »
-
A Return to Fundamentals?
Is it true? Are we to expect a return to fundamentals with relation to the USD? Will positive US economic news prompt higher positive USD sentiment as opposed to encouraging the risk trade? Will up be up, and down be down again? Depending on who you ask, I am sure that you will get a different answer. Yes, for a moment today in the latter part of the US session it appeared as if though the negative correlation with US equities was reversing. Then, a few minutes after the bell, as Microsoft and Amazon earnings came out, what had seemed like a return to basics now seemed like an eery premonition of what will surely be a less than risk friendly day tomorrow. It is my inclination to actually take a day off from trading tomorrow. It seems to me to be one of those moments where one cannot accurately gauge what the crowd will be latching on to for guidance; and for EUR/USD intra-day fellows such as myself it may be wise to take a wait and see attitude.
- Tags:
- All
July 24 2009, 2:41am | Comments »
-
USD/JPY overcomes big hurdles but more to jump just ahead
USD/JPY has broken its 200-day moving average at 95.8 and now has its sights set on 95.45, the 38.2% retracement of the 101.45/91.75 decline.
- Tags:
- All
July 23 2009, 8:59pm | Comments »
-
Euro being hurt by increased worries over Eastern Europe
The euro is being hurt by increased worries over Eastern Europe. Reports in Handelsblatt that IMF is discussing aid programmes with at least 10 Eastern European governments. Countries applying for loans for the first time include Bulgaria, Croatia and Macedonia. Stops have been triggered in EUR/USD below 1.3940 and we’re presently at 1.3920.
- Tags:
- All
July 10 2009, 10:17am | Comments »
-
Conflicting reports re EUR/USD buy orders, stops
I’m hearing slightly conflicting reports re buy orders, stops in EUR/USD. Earlier heard buy orders 50/60 stops below. Now hearing buy orders 40/60, stops below. Life can be very confusing at times. Anyways, also talk of more stops on a breach of 20 with buy orders seen at 1.3900.
- Tags:
- All
July 10 2009, 9:55am | Comments »
-
EUR/USD, GBP/USD steady
Aforementioned buy orders in EUR/USD at 1.3950/60 have managed to soak up the early selling pressure and we’re presently back up at 1.3970 from a 1.3953 session low. Technical resistance now lies up at 1.3995/00. Elsewhere cable has seen a nice bounce from aforemnetioned support at 1.6270, presently back up at 1.6300.
- Tags:
- All
July 10 2009, 9:30am | Comments »
-
China’s major fuel stocks up 4.7% in June – Source
This news will be underpinning improved risk sentiment.
- Tags:
- All
July 9 2009, 12:52pm | Comments »
-
UK trade deficit better than expected
UK May global goods trade deficit came in at £6.263 bln, an improvement from the £7.137 bln revised shortfall in April, and better than the median forecast of £6.75 bln. Lowest deficit since June 2006.
- Tags:
- All
July 9 2009, 11:40am | Comments »
-
Cable runs into a brick wall
Cable is back where it started (well at least where it was when I first sat down with my early morning cuppa.) We’re presently at 1.6085 with the earlier cable rally stalling out at 1.6129. Guess those aforementioned sell orders at 1.6125/40 must have been pretty lumpy. Seems there is still evident caution ahead of the BOE rate decision and likely extension of QE programme, which isn’t surprising. I kinda get the feeling today is going to be rather volatile on the cable front (no kidding.) With that in mind I’ll mention that sources are reporting buy stops gathering just above 1.6140. A little ways away, but as we know with cable you could be there in the blink of an eye. S&P futures presently up 6 ticks. Risk sentiment seems to be cautiously on the mend.
- Tags:
- All
July 9 2009, 10:23am | Comments »
-
Swiss unemployment worse than expected
Swiss June unemployment (unadjusted) has come in at 3.6%, worse than the median forecast of 3.4%. The seasonally adjusted rate has come in at 3.8%, worse than the median forecast of 3.6%. USD/CHF is seeing steady trade in the wake of the news, presently around 1.0900, the market seemingly becoming impervious to poor jobs data.
- Tags:
- All
July 8 2009, 8:56am | Comments »
-
USD Index in a Triangle
Recent activity has formed a triangle pattern on daily USD-Index charts. Major support is around 79.20; resistance at 81.35. A break through either level should allow follow-through and let the market continue in the direction of the break. Although – due to summer doldrums – we could be stuck in this pattern for a while…
- Tags:
- All
July 6 2009, 8:52pm | Comments »
-
Yen Pares Recent Rises Against Majors
(RTTNews) – The Japanese yen pared recent highs against major currencies during New York afternoon deals on Monday. Presently, the yen is trading near 132.86 against the euro, 95.16 versus the US dollar, 87.68 against the Swiss franc and 154.78 versus the British pound from earlier highs of 131.76, 94.68, 86.81 and 153.09, respectively.
- Tags:
- All
July 6 2009, 8:45pm | Comments »
-
Yen Pares Recent Rises Against Majors; Now Trading Near 95.20 Versus Greenback
- Tags:
- All
July 6 2009, 8:40pm | Comments »
-
Kiwi Spikes Up To New Multi-day High Versus Aussie
(RTTNews) – Extending previous session’s uptrend, the New Zealand dollar spiked up further against the Australian dollar during New York afternoon trading on Monday. At present, the kiwi is trading near new multi-day high of 1.2566 versus the Aussie, compared to Friday’s New York session close of 1.2670. The next upside target level for the New Zealand currency is seen at 1.2479. The NZ dollar also traded higher against other major opponents in the same period and currently worth 60.16 against the Japanese yen, 2.2080 versus the euro and 0.6321 against the US dollar from earlier lows of 59.40, 2.2312 and 0.6246, respectively.
- Tags:
- All
July 6 2009, 8:27pm | Comments »
-
US Dollar Declines Against Majors; Now At 1.1610 Versus Loonie
- Tags:
- All
July 6 2009, 8:26pm | Comments »
-
Kiwi Spikes Up To New Multi-day High Of 1.2568 Versus Aussie
- Tags:
- All
July 6 2009, 8:25pm | Comments »
-
Yen Rises To 3-day High Of 157.5 Against Pound
- Tags:
- All
July 2 2009, 4:09pm | Comments »
-
Moody’s downgrades Ireland to AA1 from AAA, outlook negative
The news has seen EUR/USD come under accelerated pressure, hitting a session low 1.4048 before recovering to 1.4060 at writing. Earlier sources had noted buy orders at 1.4050 and 1.4030. The fact that S&P already downgraded Ireland on June 8th will be helping limit the damage.
- Tags:
- All
July 2 2009, 2:21pm | Comments »
-
Dollar Weakens Against Russian Ruble
(RTTNews) – Against the Russian currency, the US dollar ticked down in New York trading on Wednesday. At 9:35 am ET, the greenback declined to 31.0505 versus the ruble, which may be compared to Tuesday’s close of 31.1720. Presently, the pair is trading at 31.07.
- Tags:
- All
July 1 2009, 9:37pm | Comments »
-
US investment house seen selling EUR/USD
EUR/USD has come under some pressure post US housing data. Slightly improved data and the USD firms, who would have thunk it. Treasuries off, must be a yield thing. Sources report a US investment house selliing EUR/USD aggressively post release. We’re presently down at 1.4075. Another thing at play here is the growing realisation that all this talk of dollar sales at todays fixings isn’t materialising. EDIT: Infact talk of EUR/USD sales lined up at the fix later today. Goes along with the talk of cable sales lined up for fix. What a load of old toffee. Unbelieveable!!!
- Tags:
- All
June 30 2009, 4:35pm | Comments »