Tag Archives: black
Market wary of Stress Tests before betting Farm
Helicopter Ben, today, will confirm that the Fed is concerned about the deterioration in the economic outlook and again indicate that they are probably a long way from implementing any further policy stimuli. His semi-annual testimony, this afternoon and tomorrow, in front of the US House and Senate, is unlikely to create big waves throughout the Capital Markets Continue reading
Is Trichet any good at liar’s poker?
The FX market is trading with a lack of conviction and with investors trapped in ‘no-mans land’. In a matter of days the dollar has lost its safe haven status. It’s true that US data is a tad softer, but the economic landscape just does not change that quickly, only sentiment does. Continue reading
Is Trichet any good at liars poker?
The FX market is trading with a lack of conviction and with investors trapped in ‘no-mans land’. In a matter of days the dollar has lost its safe haven status. It’s true that US data is a tad softer, but the economic landscape just does not change that quickly, only sentiment does Continue reading
EUR stalking to pounce higher
The majority will be surprised to see the EUR testing Friday’s highs again this morning, especially with the amount of negative EU copy being distributed since the weekend. EU fear mongering from inadequate ‘stress testing’, which may be unable to dictate hidden losses to unmanageable sovereign debt issues, has had a limited negative impact on the currency thus far. The negative Swiss CPI print for June this morning may have re-awakened a fear that, despite what Hildebrand communicated to the market earlier this month, there may be an SNB intervention. Continue reading
EUR appetite lost
So we are back to trading risk aversion. The Chinese gesture of loosening their peg status and trying to take the heat off themselves at the G20 meeting has somewhat failed. Continue reading
Expectations of dollar appreciation have weakened
The markets have been calm so far this June. It is of course World Cup month where, historically, volatility and volume decide to take a holiday. Some analysts believe, once the fiscal restraints begin to kick in and after everyone stops watching the ‘footy’, economic data is likely to reflect the ‘slowing economic activity’ Continue reading
EUR hobbling higher
Has the market got the momentum to apply ‘the squeeze’ on the weak EUR shorts and macro positions S/L that have been moved down by the recent low EUR print? Perhaps Prechter’s Elliot Wave two week EUR reversal predictions are beginning to take shape. Or is it easier to say that a well received Spanish bond auction, Chinese, Japanese and Australian expansion data is giving the green light for the EUR to ‘hobble’ again Continue reading
EUR in no-mans land
Bernanke comments that the US economic recovery is moving at a ‘moderate pace’ has temporarily overshadowed concerns that the European sovereign debt crisis is spreading. Quite frankly, what else can he say? He needs to sooth and encourage consumer confidence to sustain whatever growth they are experiencing Continue reading
HUF’s dog and pony show stops EUR bleeding
Until this morning there has been confusing rhetoric from the new Hungarian government. Details of their economic and fiscal plans are now only emerging from a government that took power two weeks ago, as they try to stop the bleeding from a rumored filled session on Friday which sent the HUF to its biggest drop in two years. After an emergency session this weekend they have indicated that they will be sticking to the EU and IMF imposed 3.8% budget deficit target without implementing an austerity or a fiscal stimulus plan. Continue reading
A EUR trend not correction
Equities have been the ‘flavor du jour’ of asset classes. Stronger US housing and vehicle data has influenced the investor to end the miserable six week slump witnessed in global bourses. Are they capable of have multiple winning days this week? Continue reading