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EURJPY, just a quick note?
2007-10-28 04:14:00 Just a quick note on eur/yen (and generally applies to all of the yen crosses) as market continues higher from the Oct 22nd low at 160.60 (also 38% from the Aug low at 149.30. The “preferred” view is that the recent gains are a correction with an eventual resumption of the declines back to the ... More About: Note , Quick
USDCHF, still short but ??.
2007-10-26 18:16:00 USD/CHF is sagging back toward the recent multi-year low at 1.1600, but may be within the final downleg in the fall from the June high at 1.2470 (wave 5, see numbering on daily chart below). Note too that downside momentum is starting to slow while the market may be forming a falling wedge/bottoming pattern. This suggests ... More About: Short
Market update
2007-10-26 16:37:00 With US equities rallying, the FX market sells yen and buys all the other major currencies forcing the greenback to put in new lows. The US dollar index is down .20 at 77.05. Merrill Lynch continues to make headlines as the NYT reports that their CEO was in merger talks with Wachovia last week. Just ... More About: Market , Daily News , Update
US concerns spark fresh volatility
2007-10-26 11:24:00 Financial markets endured fresh volatility on Thursday amid concerns about the outlook for the US economy and the mortgage market while oil closed at a record high. “The focus at the moment is on the capital markets and the exposure of banks and brokers,” said Tom di Galoma, head of bond trading at Jefferies & ... More About: Spark , Fresh , Financial Times , Spar , Concerns
Oil Rises to Record Above $91 on Supply Drop, Iran Sanctions
2007-10-26 09:13:00 Crude oil rose to a record above $91 a barrel in New York on an unexpected drop in U.S. stockpiles and concern that supply from the Middle East may be disrupted. Inventories last week fell 5.29 million barrels to the lowest since January, the U.S. Energy Department said. New U.S. sanctions against Iran , warnings of ... More About: Bloomberg , Record , Sanctions , Drop
Dollar Index, concern in short rising?.
2007-10-25 17:30:00 The market appears to be within the final downleg in the fall from the June high at 83.25 (wave 5, see numbering on daily chart below), may be forming a falling wedge pattern over the last few weeks (bottoming pattern that resolves sharply higher), and suggests that risk is rising for at least a few ... More About: Dollar , Short , Index , Doll
Market update
2007-10-25 16:11:00 Quiz Time: Who said this: “It’s just a dog.” 1. Ellen DeGeneres….talk show host. 2. Stanley O’Neal….CEO Merrill Lynch 3. Michael Vick…..former NFL QB 4. Kenneth Lewis……CEO Bank of America Corp. 5. 1&2 6 2&4 Answer below….. The greenback fortunes continue to go in the opposite direction of China’s. China announced the Q3 GDP came in at a blistering 11.5% pace, September retail ... More About: Market , Daily News , Update
The dollar, euro and China
2007-10-25 11:33:00 The low expectations for this month’s G7 finance meeting were roundly met. For their money, taxpayers discovered that China ’s currency was undervalued. No new light was shone on the dollar, euro or the yen either. Even so, the G7’s call for an accelerated appreciation of the renminbi shows that US and Euro pean policy makers both ... More About: Dollar , Financial Times , Doll
No single reason to merge
2007-10-25 10:19:00 When you hear a good idea, it’s usually a good idea to copy it. And likewise, when you hear a bad idea, you run away from it - and usually take pleasure in the misery of everyone who followed it. Agreed? These basic rules of life have been with me for the past 40 years, ... More About: Reason , Single , Merge
Saudi Arabia may hold key to oil and dollar link
2007-10-25 09:45:00 After a generation on the sidelines, the US dollar has re-emerged as a central issue in the pricing of oil. Since the credit crunch in August, when the dollar has gone down, oil has gone up, by an average ratio of more than 5 to 1. Since August 21, the greenback has declined 4 per ... More About: Dollar , Link , Saudi , Saudi Arabia , Arabia
Van Tharp Back-To-Basics Series
2007-10-23 04:12:00 What Does Van Tharp Mean When He Says:”We Only Trade our Beliefs About the Markets”? If you are a regular student of Van Tharp’s work or reader of this newsletter you hear this a lot: You can’t trade the markets, you can only trade your beliefs about the market. Let’s explore what this really means. As a ... More About: Series , Back , Back To Basics , Basics , Serie
USDJPY ?Ideal? Scenario Still Playing Out
2007-10-22 22:53:00 In USD/JPY, the “ideal” view over the last few weeks continues to play out as the market has indeed tumbled from the mid Oct test of the long held key resistance just below 118.00 (ceiling of bull channel since Aug, 50% from the July high at 124.15), with eventual declines back to the Aug 111.60 ... More About: Scenario , Ideal , Cena
GBPJPY outlook
2007-10-22 21:51:00 GBP/JPY continues sharply lower from the Oct 15th high at 240.70, recently accelerating on a break back below the late Aug highs at 235.55, but right into support at the 230.35 (50% from the Aug low at 219.40, see daily chart). With the market near term oversold after the last week of sharp declines, there ... More About: Outlook
US Dollar Posts Largest Rally against Euro Since 2005 - Forex Speculators F
2007-10-22 20:11:00 The US dollar set fresh record-lows against the euro before a substantial reversal in later currency trading, posting its largest single-day rally since May 31, 2005. Forex speculators initially sold the greenback on news that the weekend’s key G7 summit failed to specifically mention dollar weakness in its official statement. Yet traders scrambled to cover ... More About: Euro , Daily News , Dollar , Rally
Why is the Current Sell-off More Critical than August and February?
2007-10-22 16:35:00 The dislocation in global equity markets extends into European trading as risk appetite is slashed across the board, sending the US dollar higher against all currencies with the exception of the yen. The Japanese currency is the broad winner as carry trades that previously took place at the expense of the yen are unwound by ... More About: Current , Sell , August , Critical , February
Market update
2007-10-22 16:15:00 After a G7 statement that targeted China and a shakeout in equities, risk aversion is back and that means yen carry trades are out. The opening was a wild ride with the US dollar trading all the way down to 113.25 as the FX market bought yen and sold all the major currencies. Eur ag ... More About: Market , Daily News , Update
Dollar May Extend Drop After G-7 Fails to Address Record Slide
2007-10-21 00:08:00 The dollar, trading at an all-time low against its major trading partners, may extend the decline after the Group of Seven failed to address the drop following a meeting of finance officials. The policy makers, representing the U.S., U.K., Japan, Germany, Italy, France and Canada, stuck to language in prior statements by saying “excess volatility” in ... More About: Dollar , Bloomberg , Slide , Record , Address
USDCHF Technical analysis
2007-10-19 18:08:00 $/swiss continues to chop from the Oct 1st low at 1.1625 and is seen as a correction (wave 4 in the fall from the June high at 1.2470, see numbering on daily chart below), and suggests an eventual resumption of the decline to new lows after (within wave 5). Unfortunately was stopped on the late ... More About: Technical , Analysis , Technical Analysis , Anal , Technic
Market update
2007-10-19 15:28:00 After stronger than expected UK GDP and Canadian CPI, the greenback is getting stomped yet again in the currency markets. The US dollar index is down .06 at 77.52. GBP, Euro, and US overnight and 3mth Libor fixings showed little change, although the US rates have dropped a bit. The Fed Fund futures contract is ... More About: Market , Daily News , Update
Canadian Inflation Expected To Be Mixed
2007-10-19 07:24:00 After the two big events for CAD earlier this week, today’s CPI is expected have a mild response. The importance of the report would have been double had it come before the BOC’s meeting. Nevertheless, this data remains important for the CAD, atleast for the short term given the light calendar, which is unusual for ... More About: Inflation , Canadian , Mixed , Flat , Mixe
Is $100 the next stop?
2007-10-19 06:16:00 So what’s next for oil prices and refiners? MarketWatch interviewed Hernan Ladeuix, head of oil & gas research at Credit Lyonnais Securities Asia to find out. MW: Now that crude futures have reached record levels, where are they most likely headed next and what will it take to get them there? Ladeuix: New highs have coincided with ... More About: Oil , Stop
USD fails to rebound ahead of G7 meeting (Asia Market Update)
2007-10-19 05:43:00 EU leaders ended a political stalemate that lasted more than two years by approving a new treaty of reforms, filling the void left after France and the Netherlands rejected the constitution in mid-2005. The political stability of the EU has been questioned in recent weeks, but had little effect on the EUR. The consensus is ... More About: Asia , Market , Daily News , Update , Meeting
Crude Oil Reaches Record $90 After Dollar Drops Against Euro
2007-10-19 04:15:00 Crude oil rose to a record $90 a barrel in New York after the U.S. dollar fell against the euro, enhancing the appeal of commodities as an investment. Investors purchased oil on speculation the Federal Reserve will cut borrowing costs to bolster the U.S. economy when the bank next meets Oct. 31. Interest-rate futures show a ... More About: Euro , Dollar , Bloomberg , Record , Crude Oil
U.S. Market Update
2007-10-18 18:45:00 Dow -31 S&P -14 NASDAQ -5.5 - U.S. equity markets opened on a decidedly negative tone after a weak Banc of America earnings report sent the futures careening ahead of the NY open. The XLF is trading of 1.6% with broad weakness seen many of the financials. BAC -2.8% WM -6% JPM -1. 5% EBAY reversed ... More About: Market , Daily News , Update
Eur/$, Stay Long But?..
2007-10-18 17:29:00 In the Oct 9th email on eur/$, said that trade from the Oct 1st high at 1.4280 was a correction (wave 4 in the rally from the Aug low at 1.3360), with a resumption of the gains to new highs after (within wave 5). Rebought there (then at 1.4035) and the market has rallied since ... More About: Long , Stay
Sakakibara Says Dollar May `Plunge,? Forcing Response
More articles from this author:2007-10-18 16:45:00 The dollar may “plunge” in 2008, prompting the U.S., the European Union and Japan to intervene in foreign exchange markets, said Eisuke Sakakibara, Japan’s former top currency official. U.S. economic growth may slow to less than 1 percent next year as losses on loans to homeowners with poor credit erode consumer spending and bank earnings, he ... More About: Dollar , Bloomberg , Doll , Response 1, 2, 3, 4, 5, 6, 7 |
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