Archive for October, 2009
« Previous EntriesBOJ to End QE Program!
Friday, October 30th, 2009The Japanese yen (JPY) is strengthening today as the Bank of Japan announced it will stop buying corporate debt by the end of this year. This essentially means that they will stop flooding the market with yen, which in turn means supply will be less, which should translate into higher yen values.
JPY is up today, […]
Canada’s GDP Shrinks!
Friday, October 30th, 2009Canadian GDP unexpectedly fell .1%, vs. a .1% gain analysts had expected. This is significant because it means that Canada may not be exiting the recession as fast as they and others had hoped. As a result, interest rates are expected to remain at the record-low .25% for some time to come. As can be […]
Adv GDP comes in at 3.5%!
Thursday, October 29th, 200908:35 am : S&P futures vs fair value: +7.90. Nasdaq futures vs fair value: +11.50. Stock futures have spiked so that a much stronger start to the session appears to be in order. The improved tone comes in the wake of the latest dose of data. According to the advance third quarter GDP report, economic […]
Adv. GDP due at 8:30AM EST
Thursday, October 29th, 2009Economists surveyed expect the first expansion in almost a year to 3.2%.
Stay tuned!
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Recent Aussie Trades Revisited!
Wednesday, October 28th, 2009Its blatantly obvious that today’s market theme has been about risk-aversion and flight to “safety”, but I just wanted to take a closer look at the Aussie. In my last post I mentioned all of the reasons why the Aussie should be consider the “safe” currency, yet it is getting clobbered today as the stock […]
What Defines Risk in Currencies!
Wednesday, October 28th, 2009As I mentioned earlier this morning, today’s trading in the currency market is all about risk aversion. JPY and USD continue to strengthen against the commodity currencies (AUD, NZD, CAD). By looking at these numbers, I would expect the US equity markets to be down A LOT more. Yet at this writing, the Dow is […]
Risk Aversion Rules the Morning!
Wednesday, October 28th, 2009This means there is strength in USD and JPY, and weakness in the commodity currencies, with the yen leading the way. Yen crosses are the biggest gainers (AUD/JPY -1.8%), (NZD/JPY -1.85%), (CAD/JPY -1.25%). There’s also some strength in the British Pound (GBP) today as well.
A little later on I’m going to look at some charts, […]
I Love it When a Plan Comes Together!
Tuesday, October 27th, 2009Like Hannibal from the A-team, its always a good feeling when your thesis plays out AND you are able to profit from it. Thanks to the Case-Shiller housing price number (home prices increased- woohoo!) the Dow jumped up about 60 points and the dollar sold off a bit just in time to activate some shorts.
I […]
All Eyes on US Consumer Confidence, 10AM EST
Tuesday, October 27th, 2009A lot of the time when I am considering potential trades, I like to “match up” what I am seeing on a chart with what might happen in the news. This means that I pay close attention to potential reports that I think might be important.
Today’s such event is the US Consumer confidence numbers that […]
About Face!
Monday, October 26th, 2009Well the morning started off benignly enough with some minor moves in the commodity currencies, but an “about face” has occurred. This morning I commented on Aussie and Kiwi strength and Dollar and Yen weakness. Well it looks like the exact opposite is true now.
It looks like the equities market has reversed course, with the […]