It is not easy for many to admit that they made an error. It seems the President Trichet might finally be starting to embark on that difficult path. After raising rates in the Euro-Zone over the protests of many top figures within that continent, Trichet finally admitted what the rest of the world had realized [...]
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The Calm Before the Storm
Tomorrow is the one for all the marbles. The single most important economic announcement for the USD takes place tomorrow: Non-Farm Payrolls (NFPs). Despite today’s very important announcement of US GDP for Q2, the EUR/USD essentially stood pat around 1.56. What is special about NFPs is that, unlike announcements such as rate decisions or GDP [...]
Kicking Our Addiction
In the past 15 years, the automobile industry has witnessed monumental shifts, such as the boom in the popularity of the SUV, a Japanese company becoming the world’s largest automaker, and the rise of the hybrid. However, one thing in common between June of 1993 and June of 2008 in the world of automobiles is [...]
Random Country Report: Part 2 – Egypt
The markets are closed, Wall-E is opening in theatres, and by now most people have at least a foot out the door for the weekend. After writing all week about the USD, the Fed, and about how I am a better forecaster of market movements than my colleague John, I have decided to do the [...]
Game Time!
As I have explained before, there are some days when there is little of note in the FOREX world, so I get the chance to research a random economy somewhere in the world. Today (and I’m sure tomorrow) is not such a day. Everyone’s favorite superpower, the United States of America, came out with important [...]
Random Country Report: India Revisited
My assignment for the day: write 200 times “Next time I will not get too excited when I write about India’s short term economic situation.” For those who have been following India in the past few days, the developments seem anything but the rosy picture I painted last time around. Sure, in the long run, [...]
If You Start Pushing A Snowball Down A Hill…
On June 28, 1914, Gavrilo Princip assassinated the heir to the Austro-Hungarian throne, leading to the onset of the Great War. Indirectly, Princip’s actions led not only to WWI, but also to WWII and as the Cold War. In other words, Princip inadvertently became one of the most important figures of the 20th century. Fast [...]
US Dollar – Predicting the Future
The surprising rally of the US Dollar this week has inevitably led to what seems like everyone and their niece predicting just how long it will last. My 10-year old niece doesn’t like the dollar, and though she’s a very bright girl, please note that she based her reasoning on the Canadian dollar looking a [...]
Financial Conditions Look to Be Better
Calm seems to be returning to international financial markets. US economic data released today surprised to the upside. The US dollar is even losing its safe-haven bid with fear not as dominant in the market as in days past. We could even see conditions set up for a normalization of credit and liquidity in the [...]
Dollar Recovers from Recent Losses
In the highly volatile forex market the dollar rebounded slightly from a previous falling trend. A government report today unexpectedly showed a record level of U.S. securities bought by foreign investors in May. Holdings in U.S. stocks, bonds, and notes rose to a net $126.1 billion in May, up from a net $80.3 billion in [...]
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