Ashraf's 1.3030 of yesterday _almost_ hit this morning, so good call, just a bit premature. Fallen back & seems to be consolidating around 1.3007 for now. (~0745 BST)
@Catnip: I try not to be a conspiracy theorist, but I'm glad someone else thinks that CBs might have been involved.
You can't fight the market, you can't fight central banks, and you certainly can't fight the Chinese (if it was them), unless perhaps you are George Soros (but he is big and important enough that he probably gets insider tip-offs :) ).
What would you say is a safer trade at this point? Gold? (joke).
@chnce: I don't follow CHF closely , so can't advise. However, in trading terms, you need REALLY long pockets to trade against the market, so take care. Sometimes a painful loss today is better than a catastrophic one next week or whenever. (And I speak from experience).
That's interesting. In the grand scheme of things, 658M isn't so much is it, for hedge funds and such? Is it really possible to corner the market with so (relatively!) little? I can see the firms who use it kicking up, and maybe forcing further regulation. Hasn't there been talk of commodity trading regulation recently, to try to guard against this sort of thing? Hmm...Kraft have just bought Cadbury haven't they; might not have much spare cash left for cocoa!
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(9 months ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(9 months ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(9 months ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (9 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (9 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (9 months ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(9 months ago)
Gold, Bitcoin, USD Combo
I mentioned last week on here on how and why both gold and USD are falling together. Since then, the trend accelerated alongside another detail.
View Hot-Chart..
Fallen back & seems to be consolidating around 1.3007 for now. (~0745 BST)
http://www.bbc.co.uk/news/business-10661748
Not sure how relevant here, but could be regarded as a piece of jawboning for a stronger Euro.
You can't fight the market, you can't fight central banks, and you certainly can't fight the Chinese (if it was them), unless perhaps you are George Soros (but he is big and important enough that he probably gets insider tip-offs :) ).
What would you say is a safer trade at this point?
Gold? (joke).