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Thursday, September 1st, 2011Europe’s woes are back to center-stage as the markets fear slowing growth and the political wrangling that is taking place over the proposed EFSF deal agreed to in July. For starters, European PMI figures came in lower than expected across the board in Italy, France, Germany, and the Euro zone overall. In addition, the markets [...]
SNB Forgets To Jaw-Bone Swiss Franc Lower!
Wednesday, August 31st, 2011The financial markets can sometimes be described as creatures of habit so when the market is expecting some type of action and it doesn’t occur, it can lead to a snap-back. This appears to be taking place with the Swiss franc (CHF) today, as so far every Wendesday this month, teh Swiss National Bank (SNB) [...]
Forex Market Outlook 8/31/11
Wednesday, August 31st, 2011I’m sure those that are faint of heart are happy to see the month of August come to an end today, as it has been quite the wild ride. Nevertheless the volatility has created numerous trading opportunities but has the left the longer-term investor scratching his head. While global economic data has been coming in [...]
Fed Official Causes Gold To Spike Higher!
Tuesday, August 30th, 2011An interview this morning with Fed Governor Charles Evans produced a little more than the market expected. While not scheduled to speak in an official capacity, he was giving an interview to CNBC where he was extrememly candid. The interview did not inspire confidence in the economy or the Fed response to inflation, and as [...]
Forex Market Outlook 8/30/11
Tuesday, August 30th, 2011It’s good to be back in NYC after evacuating for the hurricane. While NYC appears to have fared reasonably well, the same can’t be said of other areas. I hope everyone who was affected by the devastation is able to get back to normal as quickly as possible. As far as the forex market is [...]
Euro Rise Vs. Pound Could Be Short-Lived!
Friday, August 26th, 2011The Euro (EUR) has been moving higher vs. the British pound over the last 4 days on the prospects of a declining growth story in the UK, which was confirmed by this morning’s release of UK GDP figures. However, the 4-hour chart of this currency pair suggests that we may be reaching a triple-top resistance [...]
Forex Market Outlook 8/26/11
Friday, August 26th, 2011Today is the day the markets have been waiting for some time, as Bernanke’s speech from the Jackson Hole Symposium is the most heavily-anticipated economic forecast in memory. We have obviously seem economic weakness and the Fed alone has been trying to tackle the issues that plague us as the fiscal side of the ledger [...]
Gold Selling Off…But Is It Over?
Thursday, August 25th, 2011Gold has sold off over $200 the past two days, the most we have seen since 1980 after reaching an all-time nominal high of 1913.25. But is it finished? The chart below shows that we are pulling back toward the daily S2 pivot support, which is essentailly the same place where we started prior to the S&P [...]
Forex Market Outlook 8/25/11
Thursday, August 25th, 2011As we inch closer to the Jackson Hole meeting tomorrow, the market ranges have appeared to narrow, waiting to potentially explode in one direction or another based on what Bernanke has to say. Earlier in the week there was seemingly more sentiment that Bernanke would at least set the stage for further monetary easing [...]
Market Shrugs Off Japan’s Attempt To Weaken Yen!
Wednesday, August 24th, 2011Overnight, Japan announced a $100 billion facility that is intended to help small and medium-sized businesses in Japan deal with the economic impact of a rising Yen. This is in startk contrast to the intervention they have been warning about, and the market is becoming less convinced that they may take action. While this announcement [...]
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