Weekly Forex Market Commentary
The dollar gave back its early gains versus the European and commodity currencies early last week and closed flat against the yen amid volatile trading. One of the many ?other? shoes to fall came from the bond insuring firms, which are struggling desperately to find some lifesavers. But the joint fiscal and monetary stimulus that […]
Weekly Forex Market Commentary
The dollar kept its own last week in spite of a widely expected 50-basis point rate cut in the Fed funds futures, and possibly even 75 basis points, at the end of the month. Meanwhile, all eyes had been on the White House fiscal stimulus proposal, which was endorsed by Federal Reserve Chairman Bernanke; but […]
Weekly Forex Market Commentary
The carry trades didn?t do well last week, with the yen surging, but the performance during a short week in thin trading makes it difficult to gauge the significance of this move. Cross trading dominated overall, with the pound getting battered and the other European currencies gaining, and crosses should dominate this week again.
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Weekly Forex Market Commentary
Amid another tidal wave of subprime mortgage disaster, growing panic in the White Houseand a more jittery Federal Reserve, the dollar and the carry trades didn?t do all that much. The cross that continued to perform was the short sterling/Swiss franc. Shorting sterling/dollar and euro/Swiss franc, and holding long euro/sterling weren?t bad ideas either, but […]
Weekly Forex Market Commentary
The dollar tumbled across the board during the last week of 2007, and the carry trades were put on the back burner. With trading volumes thinned out the market took the US currency to the only logical direction, down, but currencies gained at different paces. The new year should start with the dollar on the […]
