GVI Forex Blog 22:09 GMT November 13, 2009
Canada's dollar ended higher on Friday, helped by domestic data that showed the trade deficit
narrowed more sharply than expected and broadbased U.S. dollar weakness following soft data there.
UPDATE 2-C$ ends higher, helped by domestic trade data
GVI Forex Blog 21:14 GMT November 13, 2009
The latest week was difficult for those trying to trade on the fundamentals. The G20 meeting ended a week ago with nary a whimper about USD weakness. There was some talk about the need for some Asian currencies to adjust and that theme has carried through into the nine-day Obama trip to the Far East . Traders took the G20 lack of concern about USD weakness as a green light to sell the U.S. unit.
GVI Forex Discussion Points 13 November 2009 -- Weekend Edition
kl kl 19:33 GMT November 13, 2009
First FTSE 5298 short....then DOW 10282....move gold long SL to 1110....sold AXP 40.12......Still thinking which one to whack APPL GOOG MSFT INTC......or YAHOO........looks like probably next week another top or fall again....I feel tired for the Bull....the Green shoots that grows fruits is truly amazing.....but short I must for that is my preferred style..gl gt...with stop loss no problem
Syd 18:41 GMT November 13, 2009
Even as the US market continues to rally, many institutional investors are trimming their US holdings and putting more money in foreign stocksâ€”especially those in emerging markets.
Syd 18:39 GMT November 13, 2009
Syd 18:37 GMT November 13, 2009
The oil market is well supplied, with inventories at record levels globally, and the market continues "to be a bit soft," but prices are getting a big boost from the dollar's fall, Exxon Mobil CEO and Chairman Rex Tillerson told CNBC Friday.
"Inventory levels are at historic highs levels â€” especially in the U.S.," Tillerson said. But "a foreign exchange effect" is keeping prices higher, despite the amount of oil available.
GVI Forex Blog 16:31 GMT November 13, 2009
Price action on EUR/USD, a daily chart of which is shown, has corrected back down to an uptrend support line after falling short of re-testing the 14-month high just above 1.50. Until a significant
Chart of the Day - 11/13/2009 â€“ EUR/USD
GVI Forex Blog 10:56 GMT November 13, 2009
11:00 GMT- TRADING SCENARIO: Forex markets are consolidating the USD gains achieved yesterday on what appeared to be a short-covering rally after headlines hit the tapes that a large German bank was to get a significant government cash infusion to cover massive portfolio losses. Many are hoping now just to get to the weekend. EZ advance 3Q09 GDP today was positive Q/Q, but was a mild disappointment vis a vis street
GVI Forex Discussion Points 13 November 2009 Morning
Syd 07:21 GMT November 13, 2009
kl kl 06:19 GMT November 13, 2009
Well I covered my Gold and LONG near 1103 and SAR long here.....looking to cover a bit now here 1107...rest stops at 1104.
So hard to make money in this choppy markets.....all playing the Lie and like who is the greater Fool.. More Volitility is good for my style and those long term Warren Buffet style players if you are on margin and highly leverage.....its a Gravy train for the market maker. They train your in these seminar to think and brain wash you to play it one way and you keep losing with their 3-5%stop loss premium on entry. I just do my 10 pips thing and 1 pip better than -1 and keep surviving. This is now the time of survival of the fittest....Looking to short DOW near 10300 and Snp 1100...ftse 5300 seems like strong resistance......been turning everyday...so to speak....I like it like this...gl gt!!
TPE YEN 04:24 GMT November 13, 2009
Well I am getting whipsawed today. Bad idea to trade on Friday the 13th. ;)
But at least my "trade" is to keep reducing my exposure and cut my outstanding position even further. My hunch tells me that we should go lower on equity today. But yet, someone is messing up the picture by sending China's B shares into the stratosphere. So only sure thing is volalitity.
TPE YEN 02:53 GMT November 13, 2009
China's B equity market, both Shanghai and Shenzhen went up 9% today, plus RMB NDF is spiking. Watch out if you are shorting equity.
There is a risk for blowoff, even though that's something I would rather not see, as stated before. China has major turn date this month and next month, i.e. 13 months from cycle low 1664 this month and 55 months from bull market start 998 next month. So if it went parabolic at this stage, it's a sell in 2010 regardless of CNY (Chinese New Year) effect.
But in the mean time, prepare for volatility from China equity/RMB revaluation speculation. This is why I am buying option, at least risk is limited if I am wrong. Option implied volatility is still going down, as though Thanksgiving/Christmas holiday is already here. So they are still very cheap.