Archive for April, 2010
« Previous Entries Next Entries »Fearful Friday!
Friday, April 16th, 2010This morning is starting out with a moderate bias toward risk-aversion. There is no real news in the marketplace that should change this bias going into the weekend. The themes are very familiar, as I pointed out yesterday, and I would be surprised if traders weren’t lightening the load going into the weekend. Let’s start [...]
Been There, Done That!
Thursday, April 15th, 2010Jobs Disappointment! The number of Americans filing for unemployment rose last week, beating estimates by 24K to 484K. Despite all of the “rah rah” cheering from the financial media and the government, the US economy is still not out of the woods yet. In addition, the number of continuing claims rose, as did the number [...]
US Dollar In Focus!
Wednesday, April 14th, 2010This morning, all eyes are on the US economy as the Advance Retail Sales Figures and US CPI figures are due out. By the time I am finished with today’s piece, these numbers will have hit the market. In addition, Fed Chairman Bernanke is expected to speak at 10AM EST to the Joint Economic Committee [...]
Tuesday Tipping Point?
Tuesday, April 13th, 2010This morning the Euro is slightly lower despite a successful Greek auction of short-term debt. The over-subscribed auction saw more debt offered than was expected, and the interest to be paid on said debt was also higher than Greece would have liked. However, the EU bailout announced yesterday has given some investors confidence and only [...]
Big, Fat Greek Bail Out!
Monday, April 12th, 2010In what should have happened some time ago, the EU finally agreed to a formal bailout plan of Greece and set actual parameters that would be followed if need be. The EU has agreed to provide Greece with as much as 45 billion Euros in bilateral loans at 5%, with up to an additional 15 [...]
Not So Fast, Canada!
Friday, April 9th, 2010I admit it. My rose-colored glasses when it comes to the Loonie have perhaps soured me on the Kiwi and for that I am sorry. I have moved the Loonie higher in my “risk totem-pole” as my belief is that prospects for growth are better in Canada than in New Zealand. Well today the market [...]
Greek Tragedy, Act II!
Thursday, April 8th, 2010Credit spreads are at the widest levels since the inception of the Euro as skepticism over Greek austerity is causing borrowing costs to skyrocket to the point where they may become unworkable. This has greatly heightened fears of Greek default, which in turn has put pressure on the Euro this morning. In addition, the ECB [...]
E-Z Economy!
Wednesday, April 7th, 2010The market is showing some mild risk aversion this morning as Euro zone GDP figures came in unchanged, showing neither growth nor contraction. Signs that the EZ economy is slowing should come as no surprise as the mounting debt problems of its members show that austerity measures are intended to reign in government spending and [...]
Holiday Hangover?
Tuesday, April 6th, 2010Yours truly wasn’t the only one feeling the ill-effects of the Easter holiday, as both European and Australian markets were closed yesterday. However, with the holidays behind us, the forex market has wasted no time in digesting news which has sent the market into risk-aversion mode. We did start the morning higher as the RBA [...]
A Good Friday?
Friday, April 2nd, 2010All eyes are on this morning’s Non-Farm Payrolls report which is due out at 8:30AM EST. Stockholders anxiously await this figure as their market is closed today so those that didn’t hedge against potential downside risk may be a bit nervous going into this number and subsequently this weekend. The NFP report is expected to [...]
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