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Forex Market Outlook 10/20/11

By Mike Conlon, on Oct 20, 2011

This morning all eyes are on Athens where the Greek rioters are protesting against further austerity measures which are to be voted to ensure that Greece is taking the steps necessary to continue the bailout discussion. The Troika will be reporting the economic state of affairs in Greece but so far the sentiment has been that that was Greece has done is insufficient to date.

Forex Market Outlook 10/19/11

By Mike Conlon, on Oct 19, 2011

Yesterday’s market turn-around exemplifies the type of market action we may continue to see until the Euro debt crisis is finally resolved to the satisfaction of the world. Yes, I said the world. Markets yesterday were selling off on lowered expectations that this weekend’s European summit would produce that resolution, but a rumor hit the tape from a newspaper in Euro that said that France and Germany had agreed to expand the size of the ESFS to 2 trillion euros, much larger than had been previously agreed upon.

Forex Market Outlook 10/17/11

By Mike Conlon, on Oct 17, 2011

Over the weekend, G-20 leaders re-iterated their desire that EU leaders pick up the pace and come up with the solution to the Euro debt crisis, essentially giving them a week to finalize the plan. This provided the market with some optimism to start out the day, but that optimism was short-lived as Merkel’s reps sought to lower expectations.

The message was that essentially the “dream” of solving the crisis in the next week was not likely, essentially dousing risk appetite lower. While European leaders believe that they have identified 5 areas that need to be addressed, as always, the devil is in the details.

Bank of Canada’s Carney Speaks in Ottawa


  • Currency-market volatility may ‘become excessive’
  • Reiterates Canada policy gives ‘considerable’ stimulus
  • Canada CPI inflation to exceed 3% in short term
  • Canada economic data ‘generally’  supports bank outlook
  • Canada, CPI jobs ‘modestly stronger’ than forecast
  • Canadian assets  may be bought as emerging-market proxy
  • Pressure on the U.S. Dollar boosting Canadian currency
  • ‘Major reserve holders’ may support Canadian dollar
  • Emerging-market policies risk forming asset bubbles
  • Canada not insulated from fiscal pressures abroad

Dollar Falls to Lowest Level Versus Euro Since December 2009

The US Dollar has fell to the lowest level versus the Euro since December 2009.

Dollar/Yen Hits 15 Year Low

Dollar trades to 15-year low of 83.54 Yen in New York trading.

Bobbys Corner-Open Market-June.21.2010

bob-slade-forex-trading-8-150x200Good Morning:

It is officially summer (7:28 AM EST) this morning.  I hope all of you enjoy the summer months ahead.

Explanation of an Online Forex/Currency Trading Station

See how easy it is to execute forex trades through this latest video:

State of the Economy, Dollar & Gold & How Main Street can Benefit

As you all know, I recently published an article that talked about the state of the U.S. economy and that it may be in the “beginning’ stage of an economic recovery.

I talked about the valuable indicator of copper and why it leads the way and tells you that the economy will recover long before the “nightly news” or even analysts tell you.

Today, another site that I highly regard, also talked about the importance of copper in leading the way to an economic recovery. Daily Wealth gave this checklist for an economic recovery.

TheTrue WealthScript for Economic Recovery

• Investment-grade corporate bonds rally first,
• then stocks rally. Around the same time,
• the price of copper recovers.

AUD Continues to Dive

On the basis of technical factors, the Australian Dollar had halted its precipitous decline against most major currencies. As a result of an unbelievable 100 basis point interest rate cut, however, the currency has resumed its fall. That the rally was short-lived is not a mystery. The yield advantage enjoyed by Australia over the last few years has almost completely evaporated. Combined with lackluster Australian equity performance and tanking commodity prices, foreign investors have little reason to maintain capital in Australian holdings. On the plus side, the rate cut showed investors how serious Australian economic policy-makers are in dealing with the credit crisis. Unfortunately, diligence doesn't always translate into efficacy.

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