Archive for February, 2008
Weekly Forex Market Commentary
The disaster of the subprime crisis is far from being fixed and is dragging us in a recession that will likely be significant. But, as I wrote in previous reports, Washington is really working hard on smoothing out our predicament. As of the time of this writing, a solution seems to be in the works […]
Heads The Euro Wins, Tails The Dollar Loses?
European consumers appear to be becoming more pessimistic abut their lot as well and we may see further evidence today from Italy and Germany. From the States are the durable goods orders and new home sales. The latter is almost certainly going to be soft. Durable goods are another risk…
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Major Market Mover: More On The U.S. Economy?
As consumer confidence is hitting low records, combined with everlasting housing slump, and making things worse inflation is just keep getting higher, dollar lost ground against the Euro climbing above the 1.5 barrier eventually, and who knows where this wave is going to take us.
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EURUSD In New All-Time Highs
FX: USD-weakness more or less across the board on speculation that rates will soften even further. EURUSD printed new all-time highs at 1.5047 and AUDUSD is close to 2007 highs at 0.9400.
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USD Tumbles To New Lows Ahead Of Bernanke Testimony
Inflation and a crisis of confidence in the Fed remain firmly in focus, after the very high headline and core PPI readings and tumbling consumer confidence from the US finally pushed the USD over the edge suddenly after the creeping sell-off late. As if the data wasn’t enough, the Fed’s…
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Today’s Key Points
EUR/USD has gained one and a half big figure following yesterday’s better than expected European data combined with worrying US data. Technically, the outlook remains bullish for a move towards 1.52. Fundamentally, yesterday’s move confirms that signs that Europe remains ahead in the cycle should translate into a further rise…
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EUR/USD 150!
And then it happened- EURUSD (USDDKK) breached the psychological barrier of 150 (497). It was unexpected but nevertheless a risk that could happen if the right circumstances were at the same place at the same time. The circumstances were in this matter a stronger than expected IFO index from Germany,…
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Asia Quiet Following Strong Dollar Losses
One currency pair that has worked reasonably well over the course of the past 2 months is the Pound and while it did not see losses maintained, cycles are still bearish and unless we see a clean break above 2.0006 the pattern does still seem to suggest a long flat…
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FX Overnight Briefing
The dollar hit a record low against the euro on Wednesday, breaking through the psychologically crucial USD 1.50 level after weak economic data and comments from the Federal Reserve’s No.2 provided more proof that U.S. interest rates will continue to head lower.
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Asia Market Update
EUR/USD rallied to a new record high at the start of the Asian session. A large number of stop-loss bids were tripped above 1.5000, propelling EUR/USD to 1.5040. EUR/USD remained well bid throughout the session, with negative gamma forcing some option books to buy the EUR/USD in a stop loss…
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