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Old 01-20-2010, 01:39 AM   #1
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Default EurUSD busts 1.4200

It isn't welcome back dollar yet, but it is a far cry from the psycho levels. At GMT 04:04 on the Asian market, the dollar found support at 1.4192.

What is driving the dollars revival? Any guesses?
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Last edited by Bakz; 01-20-2010 at 01:46 AM.
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Old 01-20-2010, 02:24 AM   #2
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Quote:
Originally Posted by Bakz View Post
It isn't welcome back dollar yet, but it is a far cry from the psycho levels. At GMT 04:04 on the Asian market, the dollar found support at 1.4192.

What is driving the dollars revival? Any guesses?
Heinz ketchup became the official condiment of China and India?
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Old 01-20-2010, 06:10 PM   #3
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Heinz ketchup became the official condiment of China and India?
Oh no! I better dump my duck sauce futures.
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Old 01-20-2010, 06:13 PM   #4
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Heinz ketchup became the official condiment of China and India?
LOL ... Damn, that bitch John Kerry married is fucking it up for the rest of us!
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Old 01-21-2010, 01:56 AM   #5
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Default U$D Continues to Strengthen

EurUSD hit 1.4067 at 04:00 GMT on the Asian Market.
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Old 01-21-2010, 02:04 AM   #6
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Perhaps the carry trade is drawing back before a bubble burst?

Quote:

from TBI http://www.businessinsider.com/decem...y-trade-2010-1
Dollar strength at the end of 2009 sent the dollar carry trade (where by one borrows in dollars, then parks the proceeds in higher yielding assets) into a tailspin. This is why even small upward moves in the dollar could instigate substantial selling for 2009's star currencies. For example, for the Australian dollar shown to the right.

usd-chart.png

Bloomberg: Funding the carry trade with the greenback lost money in December for the first time since February as the U.S. currency gained 4.8 percent against the euro amid growing confidence in the U.S. economy and expectations that the Federal Reserve will raise borrowing costs by June. Futures trading on Dec. 31 suggested a 62 percent chance the Fed would increase its benchmark to at least 0.5 percent by mid-year from a range of zero to 0.25 percent, up from 30 percent in November, Bloomberg data show. The Bank of Japan’s target rate is 0.1 percent.
Buying and selling high- and low-yielding currencies to take maximum advantage of global rate moves gained 19 percent from February to November, the carry trade’s best nine months since 2003, a Royal Bank of Scotland Plc index shows. The index fell 0.9 percent in December.
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Old 01-21-2010, 02:09 AM   #7
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Not to mention that the M3 is actually shrinking.

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Old 01-21-2010, 02:18 AM   #8
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The S&P 500 may have put in an abandoned baby-top pattern, a powerful reversal signal after a move higher....the candles are not perfect and the pattern is rare, so we can also look at the two spinning tops on tuesday and wednesday as another bearish reversal signal confirmed by todays sharp move lower. The weekly candle currently looks like a bearish shooting star rejection. Tomorrow is friday the 13th and who knows how the markets luck will hold up, but we will tread cautiously on risk."

So says Todd Gordon of forex.com.

If equities perform tomorrow like they did today we might be headed to the 1.40 mark sooner than anyone imagined. It's a war of currency.

http://forums.liveleak.com/showthrea...t=60110&page=4

I said this about 5 months ago. Here we are now.
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Old 01-24-2010, 09:54 PM   #9
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As good a reason as any.
Sun, Jan 24 2010, 22:22 GMT
by GCI Financial Team
GCI


EURO
The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4180 level and was supported around the $1.4065 level. The common currency clawed back one day after the Obama administration introduced some policy initiatives that would greatly alter the landscape of the U.S. banking industry. There is a general sense among investors that the plan to curtail banks’ activities and limit their size could dissuade some foreign investors from investing in U.S. equities, particularly banking shares. Also, the plan to limit banks’ proprietary trading activities could boost the U.S. dollar and force traders to unwind their carry trades that were funded by borrowing and selling the dollar in the first place in favour of higher-yielding assets. Many dealers see Obama’s plan as a chance to try and save face following the Democratic Party’s humiliating defeat this week in the state of Massachusetts, a defeat that has at least temporarily derailed his health care agenda. Some political pundits believe Obama will try to capitalize on some populist anti-bank sentiment but many economists believe the plan could be a net negative for the banking sector and the U.S. economy at large. While further deleveraging of banks’ balance sheets may be needed, many dealers believe the Obama administration is going about it the wrong way. There was also news today that the House Financial Services Committee may seek to abolish Fannie Mae and Freddie Mac. Data to be released in the U.S. next week include December existing home sales and Dallas Fed manufacturing activity data on Monday. Traders are also paying very close attention to the Senate reconfirmation vote for Fed Chairman Bernanke. There is some grumbling that Bernanke may lack sufficient votes in the Senate for his reconfirmation even though the Senate Banking Committee suggested a positive vote in his favour. In eurozone news, European Central Bank member Gonzalez-Paramo reported it is Greece’s responsibility to solve its own problems and said the idea of trying to arrange a loan for Greece is “absurd.” Data released in the eurozone today saw November industrial new orders up 1.6% m/m, a sharp reversal from October’s 2.2% decline, but were off -1.5% y/y. Euro bids are cited around the US$ 1.3885 level.
http://www.fxstreet.com/technical/ma...010-01-24.html

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Old 01-24-2010, 09:59 PM   #10
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Well, I was going to mention what Obama said on Thursday about the banking industry, but that was just taken....so I will go with......it's just the calm before the storm...seems fitting enough.
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