Forex Futures Forum Archive for 01/20/2009

KL KL 23:29 GMT January 20, 2009 Reply   
I think people have seen enough HYPE....the quicker we get to the state of Bankrupting the Banks be it Biggest in the world, the better it is for the rest of society.

The problems remains the same, the same Monkeys, crooks and robbers with the help of their own sick HR, Accountants are still running the same. Fresh Blood in the company to fix things are still those crooks who failed elsewhere. All thanks to Human Remains(resources) seeking same talent.

Be careful...be very careful...it is getting worst as CB REALISED they have Poured Trillions into a Drain...now all have 1 Trillion to play with, after that its the CRASH of the CENTURY!! Depression!!...SELL SELL and Buy buy...with stop loss....note with stop loss!!...gl gt all

Syd 21:16 GMT January 20, 2009 Reply   
Housing market falls seen extending into 2010
LINK
Banks bailout: Bonds tumble as Government admits no cap on taxpayer risk
LIINK
More bailouts to come, so keep selling sterling
LINK
U.K. Home Prices Forecast to Drop 45% from Peak
LINK

How safe is my money in RBS?
LINK

Syd 20:32 GMT January 20, 2009 Reply   
Jim Rogers, chairman of Singapore-based Rogers Holdings, talks with Bloomberg's Paul Gordon about the outlook for the U.K. economy and the pound. LINK

Syd 20:03 GMT January 20, 2009 Reply   
PRIME Minister Kevin Rudd has raised the prospect of another radical intervention in financial markets, saying the Government would be prepared to arrange loans for Australian businesses that have been denied finance by overseas lenders. With about $75 billion in foreign loans falling due in the next two years, Mr Rudd warned of drastic consequences for individual firms and the economy if the foreign sources dried up.http://www.theage.com.au/
national/rudds-credit-lifeline-20090120-7lp6.html

Syd 19:54 GMT January 20, 2009 Reply   
The Dow Jones Industrial Average could sink towards 7,500 points if it doesn?t start to rise very quickly, Sandy Jadeja from censored Securities, told CNBC Tuesday.

http://www.cnbc.com/id/15840232?video=
1005973643&play=1

makassar alimin 19:30 GMT January 20, 2009 Reply   
euro at 1.27-1.28 is probably a play for 1.38 IMHO

Syd 19:10 GMT January 20, 2009 Reply   
which may explain why President Obama's speech may not inspire the market to rally this afternoon, MarketBeat says. Since 1937, when the date of the inaugural was moved up to Jan. 20, market's results on inauguration day have been lackluster. Just two sessions have ended with the Dow higher (1985 and 1997), with the other eight ending lower, blog says. Worst performance came when Ronald Reagan was elected to his first term, as Dow fell 2.09% that day.

London Mamun 17:50 GMT January 20, 2009 Reply   
loaded snp at 824, ftse at 4075, and dow 8065

makassar alimin 16:20 GMT January 20, 2009 Reply   
gold's somewhat bullish tone must be telling something

Hong Kong Qindex 16:04 GMT January 20, 2009 Reply   
Sell Corn
Entry: 404 - 420 Target: 311 - 370 Stop: 440

Corn : Weekly Cycle Analysis

Expected Range : 311 - 422

Normal Lower Limits : 234 - 256* - 266
Lower Mid-Point Reference : 291 - 311* - 327
Weekly Cycle Pivot Centers : (349) - (367) - (387)
Upper Mid-Point Reference : 406 - 422* - 447
Normal Upper Limits : 463 - 477* - 508

Weekly Cycle Projected Series : ... 256 - 275* - 293 - 302 // 311* - 321 - 330 - 339 - 348* - 357 - [367] - 376 - 385* - 394 - 403 - 413 - 422* // 431 - 440 - 459* - 477 ...

Weekly Cycle Congested Area : 177 - 240 - 304 - (367 - 430) - 493 - 556

Suggested Trade : Sell 1/3 - 1/2 in the first entry point
Entry Points : 404 - 420
Target(s) : 311 - 370
Stops : 440

Remarks : The market is under pressure when it is below 404 - 406. When the downward trending momentum is strong enough to penetrate through the supporting range at 367 - 369, the market will head for the lower trading range of 311 - 331.

eu kaprikorn 12:28 GMT January 20, 2009
mamun ...
I have a resistance at .9320 - 50% fib 98 / 88 move

LONDON Mamun 09:37 GMT January 20, 2009
EUR/GBP next target .95

closed ftse at 4172, dax at 4365 and brby at 232

open order to long ftse at 4125, dax 4310

eu kaprikorn 09:09 GMT January 20, 2009 Reply   
upper limit - 0.9275
lower limit - 0.8842
ranging between them until one breaks

Syd 07:05 GMT January 20, 2009 Reply   

The latest forecast from the EU Commission sees a contraction in euro zone growth for the first time since the single currency came into being. Ken Wattret from BNP Paribas has more.
http://www.cnbc.com/id/15840232?video=1005370439&play=1

Syd 06:56 GMT January 20, 2009 Reply   

- UK bank bailout scheme: The article comments on the UK government's plan to insure banks against any risk on their balance sheet.
- If the UK's plan fails, the consequences for the UK economy will be dire.
- WSJ notes that even if the government's various bank credit guarantee schemes succeed, it will not be able to halt the deleveraging process.
- Notes the major UK banks have £900B of exposure to commercial and residential property and structured credit, of which £100B is considered as toxic.

- RBS: Comments on the recent disclosure that RBS' losses for 2008 could reach £28B.
- The WSJ notes that some of the losses are related to goodwill writedowns on various RBS acquisitions and these are non-cash losses, which won't have an impact on regulatory capital.
- About 15% of RBS' £600M loan book is concentrated in UK commercial property.
- If the UK government decides to convert its £5B of preference shares of RBS into ordinary shares it could save RBS £600M/yr and improve the bank's core Tier 1 capital ratio to about 7.4% vs the 4% regulator's minimum.

- New York Times: The WSJ notes that the company's cash infusion from Carlos Slim may help the company deal with its immediate financial pressures, but the company still needs to pursue more cost cuts and asset sales.

Best Buy: The article says that Best Buy's sales will suffer through March as Circuit City's liquidators cut prices to get rid of the retailers $1.3B in inventory.
- One positive from the Circuit City bankruptcy is that, Best Buy is expected to gain some of Circuit City's former customers.

Syd 05:17 GMT January 20, 2009 Reply   
LINK

Inauguration Rally on Wall Street?
LINK

Syd 01:40 GMT January 20, 2009 Reply   
Industry groups are warning that planned changes to Australia's labor laws may trigger more industrial action at a time when the economy can least afford to support higher wage claims.

Although the proportion of Australian workers in labor unions is relatively small - around 20% of the working population - rising union wage claims could put firms already struggling to retain staff in a rapidly deteriorating economy in an even tougher bind. The global financial crisis and economic slowdown are yet to be fully felt by Australian companies, and employers are bracing themselves. Businesses need to remain highly flexible and adaptable in order to survive the tough times ahead," she said.

Just a year ago, resource-rich Australia was riding high on the back of a global commodities boom. But with the global financial crisis sending commodities prices sharply lower, Australian businesses - particularly those with exposure to the rapidly contracting mining sector - face a period of serious belt-tightening.

Syd 00:47 GMT January 20, 2009 Reply   
CBA Chief Currency Strategist Richard Grace pares back sharply views on EUR, GBP in year ahead after negative ratings agency actions on Spain, Greece with warnings of more to follow and dire outlook for UK, Eurozone economies GBP forecast is a warning from credit ratings agencies on its sovereign outlook; "the forecasts reflect the market's caution over the risk of an actual downgrade, further large interest rate cuts, and a firm USD."

Syd 00:15 GMT January 20, 2009 Reply   
THE WALL STREET JOURNAL Spain became the second euro-zone country in less than a week to suffer a downgrade of its government debt, as the bloc's deepening recession eats into tax revenues and threatens the health of public finances.
The downgrade was the latest stage in Spain's rapid fall from being the euro zone's star economy to one of the most troubled.

For a decade, Spain was the bloc's largest creator of jobs, as its construction industry boomed. Now it has the highest unemployment rate in the 16-nation euro zone. The Spanish government expects the jobless rate to hit 16% this year as construction sector grinds to a halt and worried consumers rein in spending.
Standard & Poor's cut its credit rating for Spanish government debt Monday by one notch to AA-plus from AAA. A default is unlikely for Spain, but the end of a decadelong housing boom will slow growth and end up straining public coffers in the euro-zone's fourth-largest economy.
"I expect a downgrade for Ireland as well," said Luca Cazzulani, a fixed-income strategist with UniCredit SpA in Milan. Analysts said years of responsible public-finance management made a default unlikely for Spain. Though the economic slowdown and fiscal stimulus plans will push Spain's government debt to 53% of GDP by 2010, according to European Commission forecasts, Spain's public finances remain far healthier than those of Italy and Greece, where public debt will hit 98% and 110%, respectively.

"The default probability still remains low because the rating of Spain is still quite high," said UniCredit's Mr. Cazzulani.

More likely, however, is that Spain will endure a deep, protracted slowdown as it seeks out new engines of economic growth. Spain's downgrade also reignited market speculation that the euro zone itself could break apart. The Frankfurt-based European Central Bank sets its interest rates for the euro zone as a whole, leaving Spain and other struggling countries without the option to slash interest rates or devalue currencies to prop up growth.
Faltering export growth and investment mean Germany, Europe's largest economy, will contract by 2.3% this year, according to the forecast. Spain and Italy were forecast to contract by 2% this year, and the Irish economy was predicted to shrink by 5%. The commission also warned diminishing tax receipts and higher government spending will hurt public finances across the bloc. Euro-zone budget deficits, it said, will average 4% of gross domestic product this year and 4.4% of GDP in 2010. That's far worse than the 1.7% average deficit recorded in 2008 and well above the European Union's 3% ceiling.

Syd 00:11 GMT January 20, 2009 Reply   
Australia Bank Sector Cut To Underweight By Credit Suisse