Archive for April, 2009
Next Entries »Chart: How this recession compares to others historically.
Friday, April 3rd, 2009I ran across a chart from the people at www.chartoftheday.com that I found interesting and thought I’d pass it along to you. Sometime between 3-8 months from now, we will likely be out of the recession. Being that stocks and currency pairs tend to “lead” that by some months…this bodes well for stocks in [...]
Upcoming news events for this morning.
Friday, April 3rd, 2009We’ve got the ISM Services (Non-Manufacturing) number coming out at 9am CST/10EST Don’t forget that there are a “line up” of Fed officials speaking later on this morning too. So be aware of that as well and what they’re saying. Even if you’re a technical trader, you need to be aware of what news is [...]
Non-Farm Payrolls came out!
Friday, April 3rd, 2009Estimate was for a loss of 660,000 jobs and for unemployment to come in at 8.5%. Came in -663k, 8.5% …so basically inline. GBP/USD and EUR/USD moving up on the news….however, still NZD/JPY and NZD/USD up the most % wise on the day, thus far. Sean Hyman Tags: dollar, EUR, EUR-USD, euro, gbp, GBP-USD, [...]
Commodity Currencies continue to Benefit the most vs. the Yen
Thursday, April 2nd, 2009AUD/JPY up 3.71% or 256 pips….NZD/JPY up 3.62% up or 208 pips, CAD/JPY up 2.95% or 231 pips. Also, AUD and NZD are doing great vs. the buck today too. USD/ZAR (South African rand) down 3.09% or 2,888 pips on the day on ZAR strength AND USD weakness. Greatest carry trade amount on this [...]
Today’s actions good for “carry trades” longer term!
Thursday, April 2nd, 2009Today we had a couple of great milestones happen. 1. Mark-to-Market rules loosened: http://www.bloomberg.com/apps/news?pid=20601087&sid=aoyLUeKiHCho&refer=home 2. G-20 put up over $1 trillion to the IMF to help with the global economic recovery: http://www.bloomberg.com/apps/news?pid=20601087&sid=aQ81pGgNZCJs&refer=home Long term, this is good for carry trades (AUD/JPY, NZD/JPY, EUR/JPY, EUR/CHF, NZD/USD, AUD/USD, etc.) and bad for the yen and dollar [...]
In light of the G-20 meeting…
Thursday, April 2nd, 2009Anyone ever wonder exactly who’s in the “Group of 20″ nations that are meeting right now? Here they are: G-20 members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the U.S., the U.K. and the European Union. By the way, [...]
Swing Trade Idea
Thursday, April 2nd, 2009AUD/NZD is coiling up on the 2 hour chart between its 20 sma and its 200 sma. A breakout will likely come very soon (in the upcoming hours). A breakout in either direction could possibly be worth 300 pips. Typically, a consolidation will break out in the former direction that it was headed in before [...]
Yen weakens yet again! ECB reduces rates ONLY by 1/4 point vs. 1/2 point expected!
Thursday, April 2nd, 2009Yen is weak across the board..with AUD/JPY leading the way once again. Aussie Trade Balance came out better than expected. Stocks up overnight…and many commodities up this morning already, helping out AUD and NZD in general (but especially against the yen). GBP/JPY and EUR/JPY among the gainers too. USD/SGD (Singapore dollar) took a [...]
A mild intraday theme has emerged.
Wednesday, April 1st, 2009Within the last couple of hours, a new (mild) intraday theme has emerged: CHF weakness. It’s pushed up GBP/CHF mainly (up 1.50%) but also is bringing up USD/CHF and EUR/CHF. As a reminder, remember that Switzerland recently intervened in their currency market by selling the Swiss franc. So keep this in mind. You know the [...]
Intraday trading thoughts
Wednesday, April 1st, 2009One thing to keep in mind about intraday trading is that “momentum” is a requirement. So you need movement. Every day doesn’t offer this. Today may end up being one of those days. There aren’t any pairs up even 1% on the day today and the only ones that are down barely 1% are the [...]
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