Friday October 6, 2006 - 10:15:34 GMT
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Black Swan Capital - www.blackswantrading.com
â€˘ In a shift from their normal reticence regarding the yen's weakness against the euro, Japanese officials have talked up the currency over the past month. (Reuters)
â€˘ Key Reports (WSJ):
8:30a.m. Sept Non-Farm Payrolls. Previous: +128K.
8:30p.m. Sept Unemployment Rate. Previous: 4.7%.
8:30a.m. Aug Consumer Credit. Previous: +$5.5B.
â€śI'm astounded by people who want to 'know' the universe when it's hard enough to find your way around Chinatown.â€ť
FX Trading â€“ Still rangingâ€¦
Fed talkers talking tough, while US retail sales suggest Mr. Consumer still in the game, US unemployment claim filing lower, and a belief the ECB may wait till December to â€śreassessâ€ť ongoing â€śinflation,â€ť plus the background geopolitics of North Korea nuclear testing, and the dollar trades higher on an ECB rate hike and crushes the pound when the BOE decided not to hike, all this while commodities put in a very nice day. That seems very good dollar price action indeed. But still, we remain stuck in an excruciating meat-grinding range.
A lot of markets looking interesting hereâ€¦
10-yr US T-Note Futures Daily:
Crude Oil Futures Daily:
Gold Futures Daily â€“ are shorts becoming â€śtooâ€ť bold?
Well, itâ€™s Friday, non-farm payroll day, and there is a full-moon on schedule for tomorrow. Not a bad time for some trend changeâ€”or breakout, eh? Stay tuned!
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