EUR USD
EUR/USD Falls to 1.3600
November 11, 2010 · Leave a Comment
The Euro continued losing ground against the US Dollar on Friday, favoring further speculative flows into the pair, as the price just landed on a new 5-week low at 1.3601. The current price rebounded to 1.3625. Jitters on the Irish debt problems are taking their toll on the Euro. Read more… Read More →
USD JPY
USD/JPY Aiming Higher
November 11, 2010 · Leave a Comment
The Dollar extended its gains against the Japanese yen, yet the upside remained limited below the Wednesday high, with the pair still struggling with the daily descendant trend line coming from 92.88, June 4th daily high. The hourly chart shows price firm above a slightly bullish 20 SMA acting as dynamic support, while bigger time frames hold its bullish tone. Read more about USD/JPY… Read More →
GBP USD
The Daily Forecaster: GBP/USD
November 11, 2010 · Leave a Comment
There’s still a risk of seeing 1.6069 but while it holds the outlook is bullish otherwise expect losses The underlying MT direction is bullish while the daily bias is bullish. Therefore the main risk is higher. Ensure that key support levels hold. Note key resistance levels that would suggest continuation of the bullish move. Consider confirming this with a bullish set up pattern in price or an indicator. Only consider a possible larger reversal lower should key MT support break and is supported by a bearish set up in price or an indicator Consider buy set ups at: 1.6069-81 Consider sell... [Read the full story]
USD CAD
US Dollar Canadian Dollar Exchange Rate Forecast
November 4, 2010 · Leave a Comment
Longer-term studies seem to be suggesting that the market is in the process of carving out a major base, with a fresh higher low now sought out by parity ahead of the next major upside extension beyond 1.3000. At this point however, will need to see a break back above 1.0850 to encourage the recovery prospects and accelerate gains. In the interim, any setbacks below parity should be viewed as a formidable opportunity to build on longs, with only a monthly close back below parity giving reason for concern. The struggles of the U.S. economy has started to weigh on the outlook for Canadian interest... [Read the full story]
Market Manipulation
Silver Price Suppression
April 2, 2011 · Leave a Comment
This paper is written as a response to market observers who opine, “how can the price of precious metals be suppressed when their prices have empirically gone up 4 fold and more over the past 10 years?” When we juxtapose Q3/2010 precious metals aggregates against Q4/2010 – we can see that J.P. Morgue and HSBC cumulatively added roughly 4 billion in silver derivatives. We know these institutions are “short” because the Commitment of Traders Report [COTS] published weekly by the CFTC have perpetually shown the “Commercials” category to be short. J.P. Morgue and HSBC are “Commercials”. Read... [Read the full story]
Central Banks
Fed’s Rules Let Brokers Turn Junk Into Cash at Height of Financial Crisis
April 2, 2011 · Leave a Comment
At the height of the financial crisis, the Federal Reserve allowed the world’s largest banks to turn more than $118 billion in junk bonds, defaulted debt, securities of unknown ratings and stocks into cash. Collateral of those asset types made up 72 percent of the total $164.3 billion in market-rate securities pledged to the Fed on Sept. 29, 2008, two weeks after the bankruptcy of Lehman Brothers Holdings Inc., according to documents released yesterday. The collateral backed $155.7 billion in loans on the largest day of borrowing from the Primary Dealer Credit Facility, which was created in March... [Read the full story]
Market Manipulation
Silver Price Suppression
This paper is written as a response to market observers who opine, “how can the price of precious metals be suppressed when their prices have empirically gone up 4 fold and more over the past 10 years?” When we juxtapose Q3/2010 precious metals aggregates against Q4/2010 – we can see that J.P. Morgue and HSBC cumulatively added roughly 4 billion... Read more...
JPMorgan’s Dimon slams CFTC on Swaps Crackdown
Jamie Dimon, chief executive of Wall Street giant JPMorgan Chase, lashed out at efforts by U.S. regulators to police the $600 trillion swaps market, in which his bank is a big player. New regulations being implemented by the U.S. Commodity Futures Trading Commission, mandated under 2010′s Dodd-Frank Wall Street reforms, “would damage America,”... Read more...
CFTC Proposes Open Swaps Clearing for Small Banks
The Commodity Futures Trading Commission approved a proposed rule to force the world’s largest banks to offer swaps clearing services to smaller firms, a change that would promote competition in the $615 trillion market. The proposed rule comes after an industry group of more than 20 mid-size brokers such as Jefferies & Co., Imperial Capital LLC... Read more...
MBIA Reports $213 Million Third-Quarter Net Loss on Derivatives Contracts
MBIA Inc., the bond insurer seeking to jumpstart its business of guaranteeing municipal debt, reported a $213 million net loss in the third quarter on a change in the value of derivatives contracts that reduced an accounting benefit. The loss of $1.06 a share in the three months ended in September narrowed from $728 million, or $3.50 a share a year... Read more...
Chi-East Dark Pool Marks Test Case For Asia
The launch today of a pan-Asian independent dark pool represents an important test case for the region, according to market watchers, as European trading venues and broker-dealers look east for expansion opportunities. Chi-East, a joint venture between Chi-X Global and the Singapore Stock Exchange, took the equities market by storm when it was unveiled... Read more...
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Geopolitical Risk
Chinese Sub Pops Up in Middle of U.S. Navy Exercise
When the U.S. Navy deploys a battle fleet on exercises, it takes the security of its aircraft carriers very seriously indeed. At... Read more...
China Lashes Fed Easing as Risk to Global Recovery
China said on Thursday that the U.S. Federal Reserve’s move to ease monetary policy risked undermining the global economic... Read more...
Seoul’s G20 Summit Fails to Deliver
There will be no pact on global trade imbalances at the Group of 20 summit because China and the US, or “G2″,... Read more...
Mounting US War Threats Against Iran
Leading Republican Senator Lindsey Graham signaled a turn following the midterm elections toward an escalation of US threats... Read more...
Was Last Night’s Launch of a “Rogue” Missile a Warning to Asia?
Many questions are swirling over last night’s launch of a rogue rocket, which it appears was a submarine launched ICBM... Read more...
Obama Returns Fire After China Slams Fed’s Move
President Barack Obama defended the Federal Reserve’s policy of printing dollars on Monday after China and Russia stepped... Read more...
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Central Banks
Fed’s Rules Let Brokers Turn Junk Into Cash at Height of Financial Crisis
At the height of the financial crisis, the Federal Reserve allowed the world’s largest banks to turn more than $118 billion... Read more...
Vietnam Raises Rates
Vietnam’s central bank raised two interest rates Friday, another step in the government’s new campaign against... Read more...
China Yuan Hits Fresh High
China’s yuan rose to its highest level against the U.S. dollar under the current system late Friday after the central... Read more...
China to Further Expand Cross-Border Renminbi Business
China will enhance the renminbi’s role in cross-border trade and investment over the next five years, since country... Read more...
Taiwan Central Bank Raises Key Interest Rate
Taiwan raised its key interest rate for the fourth time in nine months in a bid to combat inflation. The island’s central... Read more...
Rep. Paul Planning Hearing on Fed Foreign Lending
Persistent Federal Reserve critic Representative Ron Paul plans to hold a hearing on the U.S. central bank’s emergency... Read more...
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