Bids between 97.00/25 are currently soaking up some heavy selling, with 97.02 the low thus far. One dealer has mentioned some heavy stops below the figure but no confirmation there as yet. The bearish momentum is certainly gaining strength. The Nikkei is down 1.75%, adding to the risk-aversion sentiment.
-
USD/JPY still falling
June 16 2009, 4:07am | Comments »
-
EUR/USD technicals: trend still bullish
The move from 1.4340 to 1.3800 can be considered a completed retracement and the market is gearing for the next push higher. The subsequent bounce from 1.3800 to 1.4180 has also completed a retracement, 61.8% in this case to 1.3950, and this level is now expected to be the base for the next push higher.
June 15 2009, 12:23am | Comments »
-
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 trade-surplus cash.
June 9 2009, 4:21am | Comments »
1