@macrosam: a 200-300pips gap? :) Im not sure if it's even possible. I mean, I remember 300-400pips days during the post-Lehman period of the crysis, but 200-300pips weekend gap only because of a bad news about Greece? Oh common :) In the meantime, Im positioning myself for 1.2000 eurusd ;)
yes, the ifo is at a level last seen in June 2008 and it can't be ignored. But I'd be cautious about Germans bailing out Greeks. Their attitudes towards Greece are well known and I doubt they are going to rush to bail out them everytime a broad-based index ticks higher.
Just landed in my twitter: Greece 10year generic yield rises to 8.89%, marking the highest since at least March 1998, and rising above 8.84% set on October 12th 1998.
@Shane: you've raised fundamental questions about fundamentals ;) For me, 100pips move is a noise and you don't need a fundamental reason to move eurusd hundred pips up or down. My stops are always in the profit, never in the loss. Im managing losses by myself I do not let my broker manage them :) And Im trading very small volumes and multiple entries. So right now Im short eurusd on 5 entries with average price 1.3360 and I already took some profits yesterday. As long as Im bearish on eur I'll continue with selling into rallies. Greece and default: I don't think Greece will ever default. But ... it will cost eurozone not only money but also the credibility and investor's trust. Even if German fin.minister sings poems about EUR stability, the EUR is dropping. The only stability is always in what investors and traders think no matter the technical stability of a currency, no matter ECB Trichet's rhetoric about 'their main objective which is the price stability' and blah blah blah. EURo is undermined because the trust is undermined. And Im done with my philosophy :)
If Im not blind, the Yen weakens consistently again across the board. So the one day yen pop was clearly caused by the friday's GS news but now the risk is back, right? USD and JPY are weakening, higher yielding instruments on the rise again. Even the EUR is up against USD and JPY since the London open. So, where are we going now? It looks like hooooraaay rallies :/
depends on what impact on Goldman operations. They say it will not affect Goldman. But it will certainly affect the risk perception. Who knows what other Goldman-like surprises can we expect. I mean, the silver market fraud connected with JPM is another serious issue and maybe even bigger. So what's this GS charge? A real charge or just an attempt to redirect our focus somewhere else? :)
1452 GMT [Dow Jones] China will gradually adopt a managed floating exchange rate, China's Hu said, noting foundation for a world economic recovery were not yet stable, and that current yuan policy had helped stabilize the world financial system. This is a reiteration of long-standing Chinese policy on the yuan. As countries move out of financial crisis, they should clarify their exits from measures of extraordinary monetary policy, he said.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(11 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(11 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(11 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 (11 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (11 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (11 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(11 months ago)
Gold and USDJPY
Weaker than expected CPI is expected to help gold and drag on USDJPY until this evening's Fed decision/press conference..
View Hot-Chart..
@redart: why EURO Futures? Why not forex EURUSD? Personally Im trading 4H timeframe and most liquidity is during Eurozone/US overlap.
@Shane: you've raised fundamental questions about fundamentals ;) For me, 100pips move is a noise and you don't need a fundamental reason to move eurusd hundred pips up or down. My stops are always in the profit, never in the loss. Im managing losses by myself I do not let my broker manage them :) And Im trading very small volumes and multiple entries. So right now Im short eurusd on 5 entries with average price 1.3360 and I already took some profits yesterday. As long as Im bearish on eur I'll continue with selling into rallies.
Greece and default: I don't think Greece will ever default. But ... it will cost eurozone not only money but also the credibility and investor's trust. Even if German fin.minister sings poems about EUR stability, the EUR is dropping. The only stability is always in what investors and traders think no matter the technical stability of a currency, no matter ECB Trichet's rhetoric about 'their main objective which is the price stability' and blah blah blah. EURo is undermined because the trust is undermined. And Im done with my philosophy :)