What To Look At In The Market
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Wednesday, August 24th, 2011This morning’s early market action is looking a bit “strange”—for lack of a better word. We have been trading a narrow range after yesterday’s big move in US equities and it is unclear which way the markets want to go. Asian stocks were decidedly lower overnight on news that Moody’s downgraded Japan’s credit rating and [...]
Gold Keeps Making New Highs!
Tuesday, August 23rd, 2011Gold continue its meteoric pace higher, this time trading up to 1913.50 overnight, before selling off a bit to start the US session. Dollar weakness has been the major driver of this move and is likely to continue throughout the week heading into Friday’s Fed speech in Jackson Hole. Much of this move has to [...]
Forex Market Outlook 8/23/11
Tuesday, August 23rd, 2011This morning resembles yesterday’s market action, though market bulls are hoping the outcome is different. Stocks are higher to start the morning and we are once again in mild risk-taking mode, though off of earlier highs. Yesterday stocks in the US gave up early gains and gold pushed higher yet again to above $1900. The [...]
USD/JPY Makes An All-Time Low!
Monday, August 22nd, 2011USD/JPY made an all-time low last Friday, just touching below 76 for the first time before bouncing back higher. This has prompted the rhetoric to pick up, as the BOJ further threatens intervention. However, it is likely that the BOJ won’t do anything until after Bernanke’s speech on Friday as the world waits to see [...]
Forex Market Outlook 8/22/11
Monday, August 22nd, 2011The markets have started the week in mild risk-taking mode as there were no further negative catalysts that materialized over the weekend. One potential positive catalyst is the news that Libya may be closer to being Qaddafi-free for the first time in nearly 40 years. This may have a positive impact for the European [...]
Pound (GBP) Quietly Moving Higher!
Friday, August 19th, 2011The British pound has been in stealth rally mode over the past week despite the risk aversion in the market and the declining economic picture in the UK which was exemplified by teh rioting that took place there recently. Earlier this week, the release of the Bank of England rate policy meeting minutes revealed that [...]
Forex Market Outlook 8/19/11
Friday, August 19th, 2011The global rout is on and has continued in the overnight sessions with stocks in Asian and Europe decidedly lower, though US equity futures are bouncing back from earlier lows. A crisis of confidence is occurring within the European banking system as a by-product of the European sovereign debt crisis, which is starting to resemble [...]
Gold Keeps Making New Highs!
Thursday, August 18th, 2011Gold has reached a new all-time nominal high today, trading as high as $1820 as of this writing–and looking to go higher! While gold is considered a safe-haven, the recent volatility we have seen in the markets as a result of changing risk themes can hardly be thought of as “safe”. Nevertheless, with money uncertain [...]
Forex Market Outlook 8/18/11
Thursday, August 18th, 2011Well it looks like there is some major selling in the global equities markets today as fears of a global slowdown have induced risk-aversion. Gold is back over $1800 and is re-testing the all-time nominal highs, yet the currency market seems fairly tame by comparison. Part of the reason seems to be the fear of [...]
All Talk, No Action From SNB!
Wednesday, August 17th, 2011Earlier this morning, the markets were left somewhat disappointed in the lack of action taken by the Swiss National Bank (SNB) with regard to how they are going to manage their currency. Recent statements about a possible peg to the Euro or the setting of a target rate for the franc went unfulfilled as the [...]
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