Archive for October, 2009
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Monday, October 26th, 2009Nothing major going on this morning, as risk-takers are leading the way. This means Aussie (AUD) and Kiwi (NZD) are up this morning, US dollar (USD) and Yen (JPY) down. Also to note is that there is some Canadian dollar (CAD) weakness as it trades to a 2 week low. So just watching and waiting….. [...]
GDP Tanks GBP!
Friday, October 23rd, 2009The British pound is taking a spanking this morning, down across the board to all major currencies as a result of its horrible GDP number. GDP dropped .4% vs. a .2% rise expected from analysts surveyed. This means that the BOE may need to extend quantitative easing to prevent the British economy from falling further [...]
EUR/USD Breaks 1.50!
Thursday, October 22nd, 2009From the “just a matter of time dept.”, the Euro reached 1.50 today against the dollar. The trend is clearly up for this pair, as US dollar weakness is no big secret. However, for as much complaining as you hear around the world regarding the weak dollar, the Euro-zone is perhaps that area that is [...]
Trade Update- GBP/AUD!
Wednesday, October 21st, 2009As I’m sure you know by now, GBP had a nice move overnight and is currently up vs. (USD & JPY). Earlier this morning, it was also up a lot vs. AUD (this trade) to 1.8. When I saw this this morning, I placed a protective stop at 1.795 for another piece of my position [...]
The World Series of Money (WSOM)
Wednesday, October 21st, 2009Currency Markets, Vegas-Style! Let’s face it; the currency market is akin to the ultimate final table in the World Series of Poker. At that table, you have eight people sitting around, all trying to bluff one another. Some have large stacks of chips, while others are short-stacked. Some like to talk a little more than [...]
GBP/AUD Trade Follow-Up!
Tuesday, October 20th, 2009I just wanted to give readers a heads up on this trade that I called out last week. To give you a little background, I don’t typically like to say that I am doing this or that, but rather like to point out “possible trades” with “theoretical results.” Whether I am actually in the trade [...]
Canada Doesn’t Hike, Tries to Talk Down the Loonie!
Tuesday, October 20th, 2009The Canadian dollar (CAD)is taking the biggest hit today as Bank of Canada policy-makers held rates steady at .25%. There has been a lot of speculation that Canada may need to raise rates sooner than later, causing the Loonie to return to its one year highs vs. the greenback. It’s off -1.5% vs. AUD, -1.63% [...]
Good Day for the Commodity Currencies!
Monday, October 19th, 2009Today’s top gainer is the NZD, the New Zealand kiwi, up 2.2% vs. USD, 1.8% vs. JPY, and 1.68% vs. EUR. This comes on the back of recent gains in both gold and oil up today to 1058 and 79 respectively. Also, helping the gains was Helicopter Ben, who again today re-iterated that accommodative monetary [...]
GBP Still Strong!
Friday, October 16th, 2009The British pound is still strong today, showing a little bit of follow through from yesterdays gains. Yesterday I called out a trade in GBP/AUD as a low risk opportunity based on some technical factors, despite the fact that the trade was “counter-trend”. Let’s see how its doing: (click charts to enlarge) As you [...]
A Sterling Peformance!
Thursday, October 15th, 2009The British pound is showing its largest gains in 8 months as there is speculation that the Bank of England is going to pause its quantitative easing (QE) as there are signs that the British economy is improving. The GBP is the highest % gainer this morning, showing gains of: +2.73% vs. JPY, +1.61% vs. [...]
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