The new leader is going to make some tough political choices. Very likely this will cause the currency to strengthen. Bloomberg has the details: Merrill Lynch & Co., Goldman Sachs Group Inc. and Deutsche Bank AG predict gains of as much as 4 percent in the next six months. They say pressure will mount on [...]
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New Zealand Dollar at 22-Year High
Even more impressively, this is with no bullish news. DailyFX has the full report: Extending its impressive rise for the eighth consecutive trading day, the high flying New Zealand dollar has hit a 22 year high above 81 cents. This is the first time that we have seen the currency trade at these levels since [...]
“Why ONE-THIRD of U.S. Forex Dealers Just Got Wiped Out!”
Interesting analysis of the effects of regulation on the US retail forex market: Last October, I warned you that roughly 1/3 of all foreign exchange firms would soon lose their businesses because of coming regulatory changes. And now it’s happened – 10 out of 34 forex firms were just wiped out by new regulations. The [...]
Gisele Longs the Euro
The WSJ reports that former DiCaprio flame now wants her contracts denominated in Euro. Come on Gisele, what about the Yuan? Gisele Bündchen has a Wall Street-size income of $30 million a year. Make that €21 million. The Brazilian supermodel is reported to have demanded that her contracts be valued in euros, not the unstable [...]
FOMC Whipsaw – Fed Cuts 25 bps
Currency vols are going to spike up across the board this week with FOMC interest rate change and the employment numbers coming out on Friday. The sentiment is still USD negative and while a very good NFP won’t change that trend, the whipsaw could run stops in 70 pts + in either direction. This chart [...]
Dollar New Lows, Oil and Gold New Highs
WSJ on the USD, its weak against everything: The dollar’s problems didn’t stop with the euro. The greenback also reached a fresh 33-year low against Canada’s currency, a 23-year low against the Australian dollar and dipped to its weakest point in three months against the U.K. pound. The US is doing everything it can to [...]
NFP Beats Estimates – USD Down Anyway
Declining on good news is a bearish sign for the USD: Employers unexpectedly added 110,000 jobs to their payrolls through the month of September, with results for August revised significantly higher to an 89,000 gain. The additions were not enough to stop the Unemployment Rate from rising to 4.7 percent, but the better-than-forecast Nonfarm Payrolls [...]
Trading the Indian Rupee
This FAQ covers the basics: How does the futures in Indian rupee help you? The Indian rupee contract enables individuals and companies to have the opportunity to hedge and trade their Indian rupee risk on transparent and equal basis that an exchange provides. What does each Indian rupee contact represent? Each DGCX Indian rupee contract [...]
FOMC Cuts 50 bps
Temporarily delaying the inevitable. USD down and Dow soars: The Federal Open Market Committee cut its benchmark federal funds rate by a half percentage point to 4.75%. In an effort to ease the credit crunch, the Federal Reserve also reduced its discount rate in lockstep to 5.25%. This is the first cut in the federal [...]
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