Archive for July, 2009
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Friday, July 17th, 2009Building Permits and Housing Starts improved for the 3rd month in a row. This is the first “breath of fresh air” that the housing market has gotten in a while. The weird thing is…as things improve economically in the U.S. it improves the sentiment for the larger, global economy…since the U.S. is such a big [...]
At the “Economic Turning Point”?
Thursday, July 16th, 2009If we’re at the “economic turning point” as I believe we are…then that will be bad for the dollar, yen and Swiss franc but will be particularly good for those currencies that tend to be influenced by inflation, commodities and risk taking…which would be the Aussie dollar, New Zealand dollar, Canadian dollar and British pound…and [...]
British Pound Soars on Better than Expected Jobless Claims Data!
Wednesday, July 15th, 2009In recent months (since February, to be exact)…the unemployment claims for the U.K. economy have fallen quickly after February’s huge spike higher. There was an improved revision to the previous month’s data 30.8K and also a better number this time (23.8k) vs. 41.4K expected. The lower the number, the better…in the case of unemployment numbers. [...]
Central Banker Bollard gives the “Green Light” to New Zealand’s Economic Recovery!
Tuesday, July 14th, 2009Last night, New Zealand’s central banker stated that “early signs of a global recovery have emerged” and that “New Zealand looks likely to start recovering ahead of the pack”. How’s that for an “economic green light”? Pretty good, huh… More specifically, he stated that their economy will start growing in the final quarter [...]
Changes in Japan likely to affect the Dollar!
Monday, July 13th, 2009Whoa! What a difference a day makes. Overnight the news came out that Prime Minister Aso of Japan has called an election for August 30th. The way the polls are going, I see that the Japanese are once again disgruntled with their Prime Minister. I must say, they go through these guys like water! However, [...]
The Swiss confirm that they are intervening when the Franc strengthens!
Friday, July 10th, 2009The Swiss are intervening in their currency when they notice the franc’s strength. This is likely to continue until their economy no longer suffers from the franc’s appreciation OR until global economic growth is solidly underway to where traders are “franc sellers” once again as they seek out higher yielding currencies at that point. Here’s [...]
Rumors of more Swiss Intervention in EUR/CHF. U.S. Weekly Unemployment Claims Improve!
Thursday, July 9th, 2009Rumors of Swiss (SNB) intervention catapulted EUR/CHF upward about 60 pips within minutes. Also, the U.S. Weekly Unemployment Claims was quite a bit lower than last time and lower than expectations. So that’s a great improvement. Unemployment Claims came in at 565k vs. 608k expected and 617k the previous month. Tags: CHF, EUR, fxedu, intervention, [...]
Alert: BOE holds rates unchanged at .50%! Pound rallies!
Thursday, July 9th, 2009Alert: BOE holds rates unchanged at .50%! Pound rallies! GBP/USD up about 75 pips within minutes! Tags: alert, BOE, dollar, fxedu, gbp, Hyman, minutes, mywealth, pip, pips, pound, rate, Sean, Sean Hyman, USD
Watch out for the U.K. rate decision this morning @ 7am EST!
Thursday, July 9th, 2009Rates are expected to be at .50%. Keep an eye out for any commentary about the BOE’s rate decision and how the market reacts to it. It comes out at 7am EST. Also look to see how the CAD Housing Starts come out this morning. Those are the two events to watch this morning. CAD [...]
Japanese Yen Crushing It!
Wednesday, July 8th, 2009The biggest percent mover by far today is the Japanese yen trading to the upside with: AUD/JPY -4.6%, CAD/JPY -2.8%, EUR/JPY -3.5%, GBP/JPY -4.1%, and USD/JPY -3.1%. Just want to remind our readers that these negative percentages represent GAINS for the yen vs. the other pairs mentioned. So what is going on today? Well this [...]
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