Jan 1, 2011

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

Link to ForexLive

Put that in your pipe and smoke it, haters

Posted:

This is for all you "glass half empty" folks...S&P up 86% from market bottom...

That’ll be a wrap…

Posted:

Hoping everyone has a healthy and prosperous 2011! All the best from all of us here at ForexLive. See you on the other side...

The fix was in…

Posted:

Now that the month-end, quarter-end, year-end fixing is out of the way, markets are coming back to earth. EUR/USD has fallen back to the high 1.3340s after a spike to 1.3425 around the time of the 16:00 GMT fix. USD/JPY is up to the low 81.20s after a brief probe below the ...

The surprise for 2011? A lower-than-expected US deficit and a long-term budget fix

Posted:

My call for 2011 is that the US deficit will come in significantly below projections of roughly $1.3 trln and it will improve even further in 2012. There are two reasons why I expect improvement. First, the 112th Congress will be radically different than the profligate 111th Congress it replaces (Cash ...

It moved!

Posted:

It's been such a rough day for the dollar that even the CAD moved today...

Just your garden-variety 70 pip post-fixing rebound

Posted:

It's a little thin out there, apparently. USD/CHF slipped as low as 0.9301 during the 16:00 GMT fixing only to ramp as high as 0.9371 12 minutes later... Don't say you weren't warned...

Be thankful you’re not a bank trader…

Posted:

...who can't find anyone to take the other side of his order to buy umpteen EUR/USD at the upcoming 16:00 GMT fixing... Looks to me it is all equity driven month-end demand at work here... EUR/USD is up to 1.3420, AUD to 1.0220, USD/JPY to 81.00... On CNBC, they are showing New Years ...

Whoomp, there it is: Aud breaks 1.0200

Posted:

AUD/USD has taken out whatever barriers and stops were in the 1.0200 area and has traded up to 1.0220.

USD/JPY continues its year-end grind

Posted:

Year-end markets can become very one-sided and that clearly has been the case in USD/JPY. Book squaring by Japanese exporters for quarter-end and dollar-negative fixing flows are keeping the greenback weighed down. We trade now at 81.16, the lowest level since September 11. Looking into early 2011, my gut tells me that ...

FOMC to have more hawkish membership in 2011

Posted:

The regional Fed presidents are all members of the Federal Open Market Committee, the rate-setting body of the Federal Reserve Board. Not all members have a vote every year, however. Only the president of the New York Fed has a permanent vote and also serves as the Vice Chair of ...

Cable zooms in thin trade

Posted:

Must be Gerry's bonus payment being transacted by our bank...Cable has popped up to 1.5585 from the 1.5545 area on very thin volume...

Good month for US stocks bad for USD at month-end

Posted:

Passive investors like overseas index funds often rebalance portfolios at the end of each month. For instance, this month, the S&P 500, the most indexed-to index in the world is up approximately 6.5%. That makes the fund holding the shares longer 6.5% more dollars than at the beginning of the ...

It doesn’t happen often…

Posted:

...but it must happen enough to keep the dream alive. To what dream to I refer? The dream of your favorite asset bubble suddenly imploding, justifying your stubborn bucking of a well-defined trend. As I've said time and time again, identifying bubbles is easy, timing their demise extremely difficult (and usually unprofitable).Just ...

NY ISM index rises

Posted:

First Chicago, now the Big Apple PMI rises... The NY ISM index rose to 495.7 from 485.7 in November, a 2% rise.

US DATA: Dec ISM-NY Current Business Conditions rose.

Posted:

US DATA: Dec ISM-NY Current Business Conditions index rose to 70.0 vs 65.6 in Nov. Future optimism also reached a seven-month high.

Even central banks have a P&L…

Posted:

Maybe the push up in EUR/USD in recent days is so central bank buyers of the single currency can mark their books for the year in a somewhat may favorable light... EUR/USD is consolidating gains in the 1.3375 area.

Happy and Prosperous New Year to you all

Posted:

Thanks for your readership in 2010.  Bank holiday here in UK on Monday, so will catch up with you again on Tuesday the 4th.

Merkel vows to protect euro as ‘foundation’ of Germany’s economy, wealth

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Bloomberg article

ForexLive European morning wrap: Glad that’s over. USD generally weaker

Posted:

China C.Banker Zhou:  To maintain basic stability in prices in 2011 UK Nationwide  December house prices +0.4% m/m, +0.4% y/y, stronger than median forecasts of -0.2%, -0.3% respectively China's President Hu:  Will ensure stable, fast growth next year.  Global recovery will remain difficult China slows as tightening start to bite - AEP at ...

Cable fails to hold above 1.5500…..again

Posted:

We're back down at 1.5483.  UK clearer (the one that used to give me nightmares when I traded) notable seller in recent trade.

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