Archive for September, 2009
Next Entries »A Yen for Yen!
Friday, September 11th, 2009Good gains today for the Japanese Yen, which of course means losses for the others. Top performing pairs are USD/JPY -1.46%, EUR/JPY -1.34%, AUD/JPY -1.31% and GBP/JPY -1.20%. Look for continued strength in the Yen in the upcoming days/weeks. Take a look a USD/JPY (click chart to enlarge) And also the double top that has [...]
BOE Holds Rates Steady!
Thursday, September 10th, 2009The Bank of England this morning announced it was keeping interest rates at unchanged at .5% for the 6th month in a row. More importantly however, is that they did not announce any further quantitative easing in addition to the 50 billion pounds it raised by last month. This was seen as positive by the [...]
Nothing Safe About the US Dollar!
Wednesday, September 9th, 2009A lot is made about the safe-haven status of the US dollar and the inverse correlation it has with stocks and commodities. When the economy is seemingly doing well, risk-takers look to sell dollars and buy higher-yielding, riskier currencies to earn interest. This is more commonly known as a “carry trade” and I described it [...]
ECB Comments and Risk Taking!
Tuesday, September 8th, 2009In a continuation of Friday’s move out of the US dollar as signs of improved economic conditions are improving, EUR/USD is experiencing a nice move to the upside. Positive comments from ECB President Trichet and the notes out of the G-20 meeting are giving investors confidence that recovery is underway and therefore investors are selling [...]
Non-Farm Payrolls “Better” than Expected!
Friday, September 4th, 2009Well I’m not certain this is “great” news but the US “only” lost 216K jobs, better than the analysts expectation of 225K. The unemployment rate has risen to 9.7%, a 26-year high. So far this AM, the equity markets are positive as of this writing as the number of job losses each month is decreasing [...]
Flight to Safety!
Tuesday, September 1st, 2009It looks like the flight to safety trade is in full effect today, with the Japanese Yen crosses and US Dollar leading the way, especially against the commodity currencies (AUD, CAD, and NZD). The US equity markets are down today but hopes are that the “September Effect” is not upon the equities markets. The September [...]
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