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- SEC might consider new short sale restrictions next week
- ForexLive US Wrap-up: Discount rate impact fades
- Reuters: US to consider short-sale restrictions next week
- USD/JPY longs feeling queasy
- EUR/USD extending gains as futures get set to close
- EUR/USD looks to revisit the scene of the crime
- Greek PM: asking for political, and if needed, economic support
- Canada: Don’t tax our banks
- Fibo contains rebound so far
- The squeeze is on
- Oil talk making the rounds
- The bull case
- Fed hike? What hike?
- Greek PM: We have the power
- EUR/USD rebounds as weekend beckons
- Spanish PM vows “maximum austerity”
- USD/JPY looks bullish near-term; 200-day MA just overhead
- Here’s the conspiracy story…
- Greek PM: Our problem is your problem
- Foreclosures still at record levels in US
| SEC might consider new short sale restrictions next week Posted: According to various news sources, the Securities Exchange and Commission will consider new short sale restrictions at an open meeting next week. The SEC is expected to meet on Wednesday, February 24th2010, to vote on rules that would restrict short selling in a company's stock if that stock fell by more ...    |
| ForexLive US Wrap-up: Discount rate impact fades Posted: NY Fed's Dudley: Discount rate hike a small, technical change. "Extended period" still very much in place. US CPI rises 0.2%, core rate falls 0.1%. First drop in 28 years Greece's Papandreou: May still ask EU for financial help Spain's Zapatero: Will cut deficits but will not bow to market pressure US to consider ...  |
| Reuters: US to consider short-sale restrictions next week Posted: The US Securities and Exchange Commission will consider new restrictions on short-selling at a meeting next Wednesday. They will consider curbs that kick-in once a stock has fallen a certain percentage. Free-market types will be displeased...  |
| Posted: USD/JPY has given back nearly all of its gains on the day, trading not far above the session lows of 91.61 seen just after the weak CPI report this morning. Stops have been building below that level for much of the session and are larger now than this morning as more ...  |
| EUR/USD extending gains as futures get set to close Posted: EUR/USD has extended its rebound to the 1.3608 level as the market continues to try and get back its shorts before the weekend. 1.3616 is the 50% retracement of the drop from 1.3789 and essentially the spot from which EUR/USD began its plunge. Might be a decent spot to take ...  |
| EUR/USD looks to revisit the scene of the crime Posted: EUR/USD was around 1.3620 when the Fed sprung the surprise discount rate hike last night. It feels like the euro wants to retrace the whole drop from that level. We've been as high as 1.3594 in thin trade.  |
| Greek PM: asking for political, and if needed, economic support Posted: The Greek PM is on the wires, inching closer to asking for economic support from the EU. He says he asks for political support and, if needed, economic support. Additional austerity measures suggested by the EU are being considered, Papandreou says. Traders report a wave of demand for GBP and EUR at ...  |
| Posted: Canada will oppose G20 efforts to implement a global bank tax, Reuters reports. They are not opposed to the tax being levied elsewhere but don't want to impose it on domestic banks. Canadian banks were largely unscathed in the global meltdown, to their credit.  |
| Posted: The 38.2% retracement of the 1.3789/1.3444 decline comes in at 1.3575. The high for the short-squeeze just after midday? 1.3574. Spooky, huh?  |
| Posted: EUR/USD is taking flight as short-covering accelerates after taking out the earlier highs at the 1.3546 level posted right after the weak CPI. We've broken a sharp downtrend drawn from the 1.3789 high from Wednesday, helping spur some of the short-covering. 1.3575 is next resistance, the 38.2% retracement of the 1.3789/1.3445 ...  |
| Posted: Traders report that German banks are telling clients to cover shorts in the oil market. Potential supply disruptions are being touted, presumably as Iran continues to ramp up nuclear development. The IAEA has taken a much tougher line with Iran of late and jitters are beginning to rise that action ...  |
| Posted: As Blackday points out, while we penetrated the 61.8% retracement of the 1.2448/1.5146 rally at 1.3479 overnight, we have not yet closed below that level, making us somewhat vulnerable for a bounce. Also catching my eye is a dramatic bullish divergence in RSI.We made a big new low in EUR/USD ...  |
| Posted: Looks like the market is over the shock of the discount rate hike and is back in risk assumption mode. Gold is closing in on $1120, Oil is just below $80 and US equities are in the black by about a quarter-percent. USD/JPY and AUD/JPY are firm against this backdrop with ...  |
| Posted: We have the power, if the will is there, to deal with bond market speculation, says Greek PM Papadreou. Presumably the "we" he is talking about is the EU, and not Greece alone.  |
| EUR/USD rebounds as weekend beckons Posted: EUR/USD dipped a bit below 1.3490 on its latest pullback, but there still seems to be some residual central bank demand on dips. There also seems to be a bit of pre-weekend short-covering as Europe gets ready to wrap up. Asset markets are in recovery mode; US share prices are ...  |
| Spanish PM vows “maximum austerity” Posted: Spanish PM Zapatero says that his government will reduce deficits with the maximum austerity possible. Spain will not bow to pressure from the markets that the governments bailed out, however. Regulation and controls on markets will not be reduced but deficits will, he says. Turning to Greece, he says the new Greek ...  |
| USD/JPY looks bullish near-term; 200-day MA just overhead Posted: USD/JPY looks to be cutting a bull-flag on the short-term charts but the fact that the 200-day moving average hangs just above there at 92.28 may temper optimism in the near-term. A break and close of that level ahead of the weekend would be a very bullish sign indeed. We trade ...  |
| Posted: Turns out it was a Greek site that had the story. Greece΄s spy agency, the National Intelligence Service, has joined efforts with other European agencies to investigate financial funds speculating in Greek markets during the continuing crisis, a local newspaper reports Friday. Bravan Howard, a UK fund mentioned in the article just put ...  |
| Greek PM: Our problem is your problem Posted: Greek PM Papandreou is on the wires from London saying "our problem is our responsibility" but he also notes that contagion fear makes problems for other countries. It is a fallacy to say the Greeks are reckless, he says. Contagion fears create higher rates for other EU countries as well as ...  |
| Foreclosures still at record levels in US Posted: There are a few bright spots in the Mortgage Bankers Association quarterly report but foreclosures remain at record levels. Over 15% of all US mortgages are delinquent or in foreclosure. The foreclosure rate on one-to-four unit unit residential properties fell a bit, however. EUR/USD sits right at 1.3500 as options at ...  |
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