Archive for December, 2009
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Thursday, December 10th, 2009You have probably heard the phrase “support and resistance” thrown around with regard to technical analysis and price charts. This is one of the most basic and fundamental concepts in analyzing charts. Support is the area on the chart where there is buying interest, and resistance is the area where there is selling interest. Why [...]
Kiwi Update!
Wednesday, December 9th, 2009As expected the RBNZ kept rates unchanged at 2.5%, but did mention that they would likely be looking at a raise sometime in mid- 2010. It appears as though the economy is on track and that they will meet their inflation targets. Here’s a quick look at a 1-minute chart of NZD/USD as it was [...]
Euro Dead Zone!
Wednesday, December 9th, 2009What Lies Ahead (Below) for the Euro? I feel like at times I neglect the Euro, as it’s sort of the “middle child” in the currency pecking order of the risk trade. So while my focus tends toward the more extreme pairs (Aussie & Kiwi for risk-taking, Dollar and Yen for risk aversion), perhaps it’s [...]
All Eyes on Kiwi!
Wednesday, December 9th, 2009The biggest gainer so far this morning is the New Zealand dollar (NZD) aka Kiwi. It is up .76% vs. USD and .51% vs. CAD. Part of the reason for this is that at 3pm EST today, New Zealand will have their interest rate decision. It is expected that they will remain at 2.5%, but [...]
Return to Yen Strength!
Tuesday, December 8th, 2009The risk aversion trade is in play this morning with a myriad of factors weighing heavily on world markets. As of 9:45 EST, the US equities markets, gold, and oil are all down over 1%. As to be expected, there is US dollar (USD) strength, up against all but the strongest currency this AM, the [...]
Afternoon Update!
Monday, December 7th, 2009Just wanted to drop a quick note about the trading action today. The US dollar (USD) is down slightly, as the stock market is up a bit also. What’s interesting is that gold is also down, perhaps as a result of coming “a little too far, a little too fast”. I’m not certain if the [...]
Weekly Outlook from InnerFX 12/07
Monday, December 7th, 2009EURUSD Despite several attempts to breach higher last week, the euro failed to hold gains as the dollar rallied across the board on Friday, as a result of better than expected unemployment figures. The 270 points decline of Friday has cleared half of euro’s gains accumulated during the previous two months, hence December started by [...]
Yen Trade Follow Up!
Monday, December 7th, 2009Last week I called out a long trade on USD/JPY, saying: “Earlier this week the yen reached 15-year highs at 84.80 vs. the US dollar due to the Dubai news on that huge doji candle. Combined with a stochastic crossover near the 20 level could mean a possible trend-reversal, at least in the near-term. If [...]
More on NFP!
Friday, December 4th, 2009Is the Non-Farm Payroll Report Believable? The Bureau of Labor Statistics. BLS for short. Perhaps it should just be BS? On the heels of President Obama’s “Jobs Summit”, the shockingly surprising NFP number reported showed not only a much smaller number of jobs lost (11K vs. an expected 125K) but also a revised figure from [...]
NFP Surprise!
Friday, December 4th, 2009This morning, the always-sure-to-generate-volatility Non-Farm Payrolls came in at a “shocking” -11,000, vs. analyst expectations of -130,000. This comes on the heels of the Obama jobs summit, and certainly is good news for the economy. If you believe it. And I’m not sure that the market does. Let’s take a look at a chart of [...]
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