Dealers report heavy selling of USD/JPY which the bids at 97.50 have not quite been able to soak up, 42 the low so far. Corporate offers have been lowered so expect stiff resistance at 98.10/20 on any rally.
Stops outweighing bids in USD/JPY
Source: www.forexlive.com
Read more...
China’s commodity imports still buoyant
Latest data shows that China’s main ports received 13.8 million tonnes of crude oil, up over 5% on the year, and 55.5 million tonnes of iron ore, up 25% on the year. I think this also backs up the claim that China has been stockpiling necessary commodities rather than buying bonds with their...
Forex Money Rain?
Money Rain Corporation is a Forex broker with a MetaTrader 4 platform that offers quite interesting conditions to its traders. Its description was uploaded to my site today. MRC offers trading mini accounts from $100. The most interesting advantage it has...
Just in case you are starting to get bullish- a cold bath from Andy Xie
Andy Xie was a star at Morgan Stanley before he made the mistake of being too critical of the Chinese government. He is generally bearish on the financial markets future, after all he did work with Stephen Roche, but he is very abreast of all developments and is good at presenting his arguments....
Political Rumors Fly and EUR Bounces from Daily Low
Source: ForexYard Price movements in the EUR continue to be influenced by both politics and rumors flying over the newswires. The EUR bounced off...
Forex: GBP/USD falls further to 1.6410
Dollar is getting stronger across the board with the exception of the Yen on a big sell-off in equities. GBP/USD fell after the opening bell to 1.6415 (intra-day low). From there rebounded sharply and rose back above 1.6500 but failed to hold and regained the downside. After finding resistance at...