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UAE cuts certificate of deposit rates
2007-11-02 09:09:00 The UAE Central Bank yesterday lowered interest rates on certificates of deposit by 20 basis points in line with the new rate cuts announced by the US Federal Reserve. All other GCC countries except Oman cut rates by 25 basis points, indicating the dilemma facing the UAE, which is experiencing a surge in growth. “The UAE’s economy ... More About: Rates , Cuts , Interest Rate , Cert
2 Nov 07 Wave analysis
2007-11-02 09:00:00 addthis_url = 'http%3A%2F%2Fwww.gccfx.com%2F%3Fp%3D715' ; addthis_title = '2+Nov+07+Wave +analysis'; addthis_pub = ''; More About: Analysis , Majors , Anal
Fed Mocked By Credit Crisis
2007-11-01 23:03:00 The credit crisis is still unfolding and not even 12 hours after the Fed cut rates for what it implied would be the final time for the foreseeable future. Well the markets today said to the Fed “I laugh at you”. I thought the Fed’s irrelevance would be highlighted on Friday assuming the jobs data disappointed ... More About: Credit , Federal Reserve , Crisis , Cris , Mock
Market update
2007-11-01 17:41:00 With the financial markets still attempting to digest the Fed’s actions yesterday, the greenback is mixed with some yen carry selling off (Aud, Nzd, Zar) in a profit taking move. The US dollar index is up .27 at 76.75 after putting in a fresh low at 76.465. Libor fixings for Gbp, Eur, and Usd all ... More About: Market , Daily News , Update , Fundamental Analysis
USD index, no bottom yet?
2007-11-01 17:38:00 USD index has sagged to another new low at 76.45 but within the final downleg in the fall from the June high at 83.25 (wave 5, see numbering on daily chart below). Note too that technicals have not confirmed the recent weakness (see bullish divergence on the daily macd at bottom of chart below). Though there ... More About: Index , Bottom
Shrinking Dollar
2007-11-01 04:57:00 addthis_url = 'http%3A%2F%2Fwww.gccfx.com%2F%3Fp%3D701' ; addthis_title = 'Shrinking+Doll ar '; addthis_pub = ''; More About: Cartoons
Shrinking Dollar
2007-11-01 04:57:00 addthis_url = 'http%3A%2F%2Fwww.gccfx.com%2F%3Fp%3D701' ; addthis_title = 'Shrinking+Doll ar '; addthis_pub = ''; More About: Cartoons
Fed Still Boxed In
2007-11-01 02:05:00 I can’t recall a Fed rate change so poorly handled as today’s. Clearly the FOMC was not pleased with the market discounting function - high odds of a cut when the Fed itself was torn between cutting again and standing pat. Despite deploying the likes of Greg Ip to recalibrate market odds on a rate ... More About: Federal Reserve , Interest Rate , Boxed In
Fed Still Boxed In
2007-11-01 02:05:00 I can’t recall a Fed rate change so poorly handled as today’s. Clearly the FOMC was not pleased with the market discounting function - high odds of a cut when the Fed itself was torn between cutting again and standing pat. Despite deploying the likes of Greg Ip to recalibrate market odds on a rate ... More About: Federal Reserve , Interest Rate , Boxed In
IMF supports dollar peg
2007-10-31 22:07:00 The International Monetary Fund (IMF) has announced its support of the UAE’s commitment to the dollar peg, backing the view of UAE senior officials who claim that financial losses and loss of economic credibility would follow a move to a basket of currencies. The IMF report supports the view of UAE officials that inflation would not ... More About: Dollar , Doll
IMF supports dollar peg
2007-10-31 22:07:00 The International Monetary Fund (IMF) has announced its support of the UAE’s commitment to the dollar peg, backing the view of UAE senior officials who claim that financial losses and loss of economic credibility would follow a move to a basket of currencies. The IMF report supports the view of UAE officials that inflation would not ... More About: Dollar , Doll
FED ACTS: NICE TREAT!
2007-10-31 22:02:00 I can’t recall a time ever when stock prices were at all time highs, GDP was near 4.0%, and the US dollar was making all time lows….and the Federal Reserve cutting interest rates. I think I’ve underestimated the inexperience of the Bernanke Fed. The FOMC stands on a Jim Cramer induced precipice and risks losing ... More About: Treat , Nice , Interest Rate
FED ACTS: NICE TREAT!
2007-10-31 22:02:00 I can’t recall a time ever when stock prices were at all time highs, GDP was near 4.0%, and the US dollar was making all time lows….and the Federal Reserve cutting interest rates. I think I’ve underestimated the inexperience of the Bernanke Fed. The FOMC stands on a Jim Cramer induced precipice and risks losing ... More About: Treat , Nice
Inflation hits UAE competitiveness
2007-10-31 21:43:00 Dubai: Surging inflation is denting the UAE’s global competitiveness, according to a survey released yesterday by the World Economic Forum. The country ranks 37th in the Global Competitiveness Report 2007-08, the same position it held last year and below Saudi Arabia, Qatar and Bahrain. Analysts at the World Economic Forum say the UAE is one of the ... More About: Inflation , Hits , Flat
Inflation hits UAE competitiveness
2007-10-31 21:43:00 Dubai: Surging inflation is denting the UAE’s global competitiveness, according to a survey released yesterday by the World Economic Forum. The country ranks 37th in the Global Competitiveness Report 2007-08, the same position it held last year and below Saudi Arabia, Qatar and Bahrain. Analysts at the World Economic Forum say the UAE is one of the ... More About: Inflation , Hits , Flat
Fed cuts rates by another quarter point
2007-10-31 19:45:00 The Federal Reserve cut US interest rates by a quarter point to 4.5 per cent on Wednesday in a bid to protect the American economy against the risks from the housing slump and credit squeeze. The second successive rate cut by the central bank follows an accelerated decline in the housing market that has confirmed some ... More About: Point , Financial Times , Rates , Cuts
Fed cuts rates by another quarter point
2007-10-31 19:45:00 The Federal Reserve cut US interest rates by a quarter point to 4.5 per cent on Wednesday in a bid to protect the American economy against the risks from the housing slump and credit squeeze. The second successive rate cut by the central bank follows an accelerated decline in the housing market that has confirmed some ... More About: Point , Financial Times , Rates , Cuts
USDCAD, potential for a sharp move?.
2007-10-31 18:09:00 $/cad continues to range lower within the bearish channel that has been in place since Sept, currently testing support the base (currently at .9475/90, see daily chart below). Note too that the market is oversold after the sharp declines since Aug, while it may also be forming a falling wedge (bottoming pattern that resolves sharply ... More About: Sharp , Move , Tent
USDCAD, potential for a sharp move?.
2007-10-31 18:09:00 $/cad continues to range lower within the bearish channel that has been in place since Sept, currently testing support the base (currently at .9475/90, see daily chart below). Note too that the market is oversold after the sharp declines since Aug, while it may also be forming a falling wedge (bottoming pattern that resolves sharply ... More About: Sharp , Move , Tent
GBPUSD, NOT seen as the time to get greedy?..
2007-10-31 17:34:00 Cable has finally reached the target over the last few months of 2.0655 (July high) and above, currently testing resistance at the ceiling of the bullish channel since Aug (currently at 2.0740/55, see daily chart below). Though there no signs “pattern-wise” of a top, there are a number of risks to a further significant upside, ... More About: Time , The Time
Market update
2007-10-31 16:08:00 The ADP report on U.S. private sector employment is flagging a strong nonfarm payroll figure on Friday. The ADP results for October showed an above-expected 106,000 gain in private sector jobs in the country, so tacking on about 25,000 public sector jobs suggests we’ll see something in the neighborhood of 130,000 on Friday…..So what’s the ... More About: Market , Daily News , Update , Fundamental Analysis
Gulf could unite to drop dollar peg
2007-10-31 12:42:00 Gulf Arab oil producers, torn between rising inflation and exchange rates fixed to a sliding dollar, could consider switching together to a currency basket to buy time for a troubled monetary union project. A region-wide shift could catch investors unawares after months of market speculation that the Unit ed Arab Emirates or Qatar would break ranks with ... More About: Dollar , Drop , Doll
EURUSD
2007-10-31 00:55:00 EUR/USD remains firm but appears to be within the final upleg in the rally from the Aug low at 1.3360 (wave 5, see numbering on daily chart below). Note too that technicals are not confirming the recent strength (see bearish divergence on daily macd at bottom of chart below) and suggests that risk is rising for at ... More About: Majors
Market update
2007-10-30 16:31:00 After a WSJ Ip article puts a big ? on a Fed rate cut, the greenback is mixed with some yen carry selling off (Aud, Nzd, Zar). This has occurred despite a jump in the Japanese unemployment rate to 4.0% from 3.8%. The US dollar index is up .05 at 76.88. Libor fixings for Gbp, ... More About: Market , Daily News , Update
What To Do With A Mercy Cut? Sell Dollars.
2007-10-29 22:51:00 What To Do With A Mercy Cut? Sell Dollars . There should be little doubt about what the Fed is thinking going into the Tuesday-Wednesday FOMC meeting - well Board thinking that is - in light of the insider press reports in recent days from Berry to Ip to Miller. The Fed is not inclined to ease ... More About: Federal Reserve
NZDJPY, reached buy target?
2007-10-29 22:13:00 The view in NZD/JPY remains unchanged as the 3 wave fall from the July high at 97.80 (see A-B-C on daily chart below) continues to argue that the last few months of trade is a correction with eventual gains back to 97.80 and above after. Currently, the market is bouncing from last week’s spike down ... More About: Target
Bernanke, `Reluctant? to Cut Rates, May End Up Doing So Anyway
2007-10-29 16:55:00 Federal Reserve Chairman Ben S. Bernanke and his colleagues sound as if they’d prefer to just say no to an interest-rate cut this week. The financial markets may not let them. Policy makers from Bernanke on down have avoided signaling they want to reduce benchmark lending rates at their Oct. 30-31 meeting, ever since lowering them ... More About: Bloomberg , Federal Reserve , Rates
Explaining the Dollar?s New Low Yielding Status
2007-10-29 16:18:00 We received several comments and inquiries related to our statement late last week indicating the dollar’s new status as a low yielding currency and, hence a carry trade candidate. Despite the dollar’s absolute rate advantage over some currencies (CAN, JPY and CHF), it is the expectations of further currency losses that is expected to erode ... More About: Gold , Dollar , Federal Reserve , Status , Fundamental Analysis
USDJPY, Next downleg nearby ?
2007-10-29 16:09:00 The “ideal” view in USD/JPY over the last few weeks continues to unfold as the mid Oct test of the long held key 117.90/00 resistance area likely completed the whole correction since Aug, with an eventual declines below that Aug low at 111.65 still favored ahead. Currently, the market is chopping from last week’s test of ...
Market update
More articles from this author:2007-10-29 14:48:00 With global equities rallying again, the FX market sells yen and buys all the high yielders with focus on Australia, New Zealand, and the UK. The US dollar index is down .11 and has broken below 77.00, at 76.91. Deutsche Bank, UBS, and Credit Suisse are set to report their earnings as the market anticipates ... More About: Market , Daily News , Update 1, 2, 3, 4, 5, 6, 7 |
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