Last time the aussie crossed 100.00 it failed to close on a weekly time frame and collapsed quickly thereafter falling 600 pips the next week, and 44% over the next three and a half years down to 56. After six years of recovery, today AUD/JPY pushes to new highs printing at 93.18, a place it [...]
Archive | December, 2006
Melting Down Money
The rise of prices in base metals has caused possessiveness and even theft of various common items made of these now more valuable metals. This theft and vandalism, what some call the “Red Gold” Rush, has been hurting basic functions of society. In Italy copper has been ripped off of bridges, train equipment, and tombs. [...]
NZD/JPY Hits 81 – Carry Traders With Strong Gains
The carry trade carries on to 81.00. After falling 1300 pips in from February to May, the NZD/JPY recoups all the losses in the next seven months. In addition, this pair yields the highest of any heavily traded currency pair at 7%. So even if you bought at the very high in February, if you [...]
USD/CAD Pattern
The USD/CAD has been in a channel now since the end of August. We’ve seen it push the top channel line three times and it is now approaching the fourth. What’s interesting is the similar pattern back in March for the EUR/USD. Remember when it broke out after the fourth time at the top channel [...]
Turkey Likely To Keep Rates High
November inflation data was published yesterday above expectations. Although lowering from above 11% earlier this year, CPI came in at 9.9% YoY. PPI came in at 12.7%. The most likely response from the central bank will be to not lower the rates anytime soon.
British Pound Sterling Hits 30 Year Trend Line Against the Dollar
On a monthly chart the GBP/USD hits a rarely touched thirty year trend line.
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