GVI Forex john -- Inner Circle 21:16 GMT September 13, 2013
Summers
Reply
REPORT: Democrat Senator Testor says likely vote on Summers by Democrats would be negative. Honestly I had no idea that confirmation by his own party would be an issue. Obama would probably not put him up without a clear majority assured?
Mtl JP 20:18 GMT September 13, 2013
Summers
PUBLIC POLICY ECONOMISTS' OPEN LETTER IN SUPPORT OF JANET YELLEN AS THE NEXT FEDERAL RESERVE CHAIR
Dear President Obama:
We the undersigned economists, with both academic and practitioner interests in public policy, respectfully urge you to appoint Janet Yellen as the next Chair of the Board of Governors of the Federal Reserve System.
Signatures as of 9/8/13: link
GVI Forex john -- Inner Circle 19:50 GMT September 13, 2013
Chart Points
Reply
UPDATED. Global-View Free FX Database. High-Low-Close data for over a dozen currency pairs for well over a decade of data in Excel spreadsheet format.
GVI Forex john -- Inner Circle 18:12 GMT September 13, 2013
Fixed Income
Late in Europe, prices in prime fixed income markets were mostly mixed. Peripheral bond prices are lower.
Mtl JP 17:55 GMT September 13, 2013
United States
so IF a QE taper - i.e. less printing - is in the cards why are rates rising ? Can we expect rates to rise higher yet on less n less paper supply ?
GVI Forex john -- Inner Circle 17:34 GMT September 13, 2013
United States
We all know the Fed will start to taper sometime soon all they can do is taper or postpone tapering. They cannot decide never to taper. So the markets would start to speculate about the next possible timing of a tapering if they don't make that announcement on Wednesday.
I've said for a while that this is the ideal timing for a tapering because a press conference was already scheduled. Also it is logical that he would want to start the taper before a new Fed Chief is appointed. If not the week ahead, a new person will likely be nominated before the next Fed meeting.
PAR 17:12 GMT September 13, 2013
Bernanke Tapering ?
Reply
Imho not . He will need "a last one (QE) for the road"
Have a nice weekend.
Mtl JP 16:57 GMT September 13, 2013
United States
GVI Forex john / with respect to "taper" (not)being priced in
IF they should not cut anything next week, do you expect
- volatility to increase
- muted reaction ?
IF they do not cut anything off would that not increase the certainty that they will cut next time , regardless of data-dependence ?
dc CB 16:23 GMT September 13, 2013
They know ahead
same ole same ole bottom O the Day
GVI Forex Blog 16:18 GMT September 13, 2013
Reply
September 13. 2013 (global-view.com) UPCOMING DATA HIGHLIGHTS for Monday, September 16. Updated: Trading Events Calendar
HIGH IMPACT RELEASES: EZ- CPI, US- Industrial Output
GVI Forex Data Outlook for September 16, 2013
GVI Forex john -- Inner Circle 16:15 GMT September 13, 2013
Calendar
Reply
September 13. 2013 (global-view.com) UPCOMING DATA HIGHLIGHTS for Monday, September 16.
Updated: Trading Events Calendar
HIGH IMPACT RELEASES: EZ- CPI, US- Industrial Output
dc CB 16:05 GMT September 13, 2013
They know ahead
I've marveled for years at reports buried in the earnings releases for major banks in which they appear to be able to repeatedly churn out trading results that not only buck the odds they defy physical statistical reality.
I'm speaking of the penchant for big banks to turn in perfect quarterly trading records -- three month periods where they never once having a losing day.
Rolling Stone has since learned that a whistleblower complaint has been filed to the SEC identifying 16 of the world's biggest banks and hedge funds as the allegedly even-earlier recipients of this key economic data. The complaint alleges that this select group of customers received the data anywhere from 10 minutes to an hour ahead of the rest of the markets.
(Legally) Burn Them All To The Ground
GVI Forex Blog 15:39 GMT September 13, 2013
Reply
Two relatively poor data reports are helping to dampen sentiment. The Sept University of Michigan Consumer Confidence survey missed expectations and fell to its lowest level since April. Meanwhile the August Advanced Retail Sales gained the least in four months.
TradeTheNews.com US Market Update: Closing Out the Week on a Sour Note
dc CB 15:16 GMT September 13, 2013
United States
*CBOE HAS NO FURTHER COMMENTS REGARDING ITS COMPUTER SYSTEMS
*CBOE INVESTING CURRENT DIFFICULTIES, SPOKESPERSON SAYS
As of 10:02AM CT, *CBOE’S C2 AND CBSX HAS HALTED TRADING
dc CB 15:04 GMT September 13, 2013
United States
many of the options on my watch list have the Bid way way ABOVE the Ask
Fair warning this thing may break down further.
__________________________________________________
ZH:
Anyone else get a sense of deja vu? Following CBOE's fail this morning, now BATS has declared self-help against the CBOE...
BATS Breaks On CBOE
dc CB 14:22 GMT September 13, 2013
United States
POMO
today $3.00 - $4.00 billion
GVI Forex john -- Inner Circle 14:15 GMT September 13, 2013
United States
JP- I'm not an equities guy. I don't know what's priced in. I do sense the housing markets are starting to slow. If housing slows, forget about improving jobs data in coming months.
dc CB 14:13 GMT September 13, 2013
United States
the housing sector. It is a major employer.???????????????????
Paris ib 14:07 GMT September 13, 2013
United States
No reason to expect good housing data next week.
Mtl JP 14:07 GMT September 13, 2013
United States
john do you see a profit opportunity in shorting or buying some of the mortgage specialized banks or house builders ?
GVI Forex john -- Inner Circle 14:04 GMT September 13, 2013
United States
Recent data out of the U.S. has been turning soft. A big item next week will be the housing sector. It is a major employer.
GVI Forex john -- Inner Circle 13:59 GMT September 13, 2013
United States
University of Michigan-Conference Board Sentiment. Preliminary Michigan data much weaker than expected. This is subject to revision in about two weeks.
Mtl JP 13:58 GMT September 13, 2013
United States
UofM as ugly as a pit-bull's butt
PAR 13:58 GMT September 13, 2013
Summers
Whoever Obama appoints it will always be an improvement . Bernanke was and is always looking in the
rear view mirror and is obsessed by recessions and depressions .
Moscow VZ 13:57 GMT September 13, 2013
Bonds Cyclical Bear Market
Reply
Everything is pointing out that bonds are entering an important bear market.
http://www.screencast.com/users/Tradermc_Cycles/folders/Default/media/f42fb4fc-642b-4fe9-8d60-7b57bf6291d2
http://www.screencast.com/users/Tradermc_Cycles/folders/Default/media/4e3ee481-14fb-4f08-98e4-c75553df129d
Paris ib 13:45 GMT September 13, 2013
Summers
Reply
I have problems with the idea that Summers is being construed as a market moving event. I mean seriously. But it's happening and the market is trading off it !!
london red 13:27 GMT September 13, 2013
-
Reply
kiwi approaching 200 day ma at 8182, a few other resistance levels up to 8200 as well. possibly can be used as an indicator for further usd weakness, which in such a case would point to cable ~1.60 euro ~1.34 pre fomc. think then worth reversing positions as taper is on cards whether it be 10 15 or 20bn, i dont see making much difference, it will be the start of a reduction in easing, which is going to have a marked effect on the dollar given the weakness into the fomc.
confidence to come shortly, will shed more light on direction, although dollar upside limited pre fomc. that said buying 98/98.50 makes sense as a set up for fomc.
HK [email protected] 13:09 GMT September 13, 2013
K.I.S
Reply
The message is clear: Our economy is sluggish, QE failed, and tapering will blow the rest.
Don't buy shares or bonds (or maybe, but maybe short them).
We need a weak currency to improve our earnings.
Dollar has only one way to go ..Down.
dc CB 13:01 GMT September 13, 2013
United States
*CBOE SAYS FIX USERS ON C2 PROBLEMS W/ORDERS, CANCELS, QUOTES
*CBOE: SOME USERS CURRENTLY EXPERIENCING PROBLEMS ROUTING ORDERS
The last time CBOE suffered an outage similar to this, it led to the NASDARK debacle and 3 hours of radio silence from the largest (and most liquid) exchange in the world
CBOE Breaks
GVI Forex john -- Inner Circle 12:58 GMT September 13, 2013
Gold
Reply
Lets move the gold discussion to the Gold Forum please. Thanks
Paris ib 12:43 GMT September 13, 2013
They know ahead
So your guy suggests:
1) that the banks holding gold have leased it out many times over and are now buying back for delivery (for the Germans).
2) that the banks buying have manipulated the gold price lower (though how they do this is not explained).
That story doesn't hold water. In the first place if they had just leased the gold they could show it to anyone who wanted to audit the gold. They never showed it to the Germans. Even if they had leased it out or onsold it many times over, they could still show it. All they would have to do is make sure not to have overlapping appointments for all those wanting to make sure the gold was actually there. In the second place, this business that the central banks are manipulating the gold price lower smacks too much of conspiracy theory: vague.
I'm sticking with my idea. The Germans found out in 2011 and 2012 that their certificates of deposit for gold were essentially worthless and, without making a fuss, they starting selling big time. And they are still selling because if they hold certificates for non-existent gold those certificates are really worthless. At the same time anyone interested in holding gold has been buying up 'for delivery' whenever possible and they have been taking delivery. So we have the delivery squeeze.
GVI Forex john -- Inner Circle 12:43 GMT September 13, 2013
United States
U.S. Advance Retail Sales. Data softer than expected, but previous data revised higher.
GVI Forex john -- Inner Circle 12:32 GMT September 13, 2013
United States
-- ALERT --
AUGUST 2013 U.S. Retail Sales
Headline: +0.20% vs. +0.40% exp. vs. +0.20% (r +0.40%) prev.
Ex-Autos: +0.10% vs. +0.30% exp. vs. 0.50% (r +0.60%) prev.
Ex-Autos and Gas: +0.10% vs. +0.30% exp. vs. +0.40% (r +0.6) prev.
TTN: Live News Special Offer
Direct links to primary data sources
U.S. Advance Retail Sales. Data better than expected, Check out chart for perspective on the data.
dc CB 12:25 GMT September 13, 2013
Fixed Income
I think they had to say something (deny) as the 10Y was threatening 3% again.
GVI Forex john -- Inner Circle 12:17 GMT September 13, 2013
Fixed Income
I still think the Summers story was a plant by the White House. They are only denying that a decision has been made.
PAR 12:14 GMT September 13, 2013
Fixed Income
DJ White House Is Saying Reports In Japanese Press That Obama Is Set To Name La rry Summers Are Wrong .
dc CB 12:13 GMT September 13, 2013
Fixed Income
White House Is Saying Reports In Japanese Press That Obama Is Set To Name Summers Are Wrong - Dow Jones
dc CB 12:10 GMT September 13, 2013
Global Markets News
(FT)
So, as markets mark the anniversary of that Lehman collapse, is the system any safer or saner? the system is just as insane – perhaps more so:
The big banks are bigger – not smaller.
The shadow banking world is taking over more activity, not less.
The system depends more than ever on investor faith in central banks.
Financiers have been prosecuted – but not for the credit bubble.
Insane financial system lives post-Lehman
GVI Forex john -- Inner Circle 12:01 GMT September 13, 2013
United States
Reply
HEADS-UP: Data (top of forum)
EURUSD= 1.3280
GBPUSD= 1.5815
USDJPY= 99.72
AUDUSD= 0.9238
USDCAD= 1.0342
US 10-yr= 2.94%
DE 10-yr= 2.01%
GB 10-yr= 2.96%
(Manually refresh forum to update Calendar)
Direct links to primary data sources
dc CB 11:52 GMT September 13, 2013
They know ahead
On September 13 at 1:23:22, approximately 2200 gold futures contracts traded in a second, sending the price down just over $10. This was almost an identical repeat of the previous day, but this time, there was no halt. Maybe more people had orders to buy lower in the book, hoping to catch a falling knife.
(chart)
Raid part 2
dc CB 11:48 GMT September 13, 2013
Fixed Income
GVI Forex john -- Inner Circle 09:02 GMT
Summers was a very good Treasury Secretary under Clinton.
++++++++++++++++++++++++++++++++++++++++++++
Depend on who he was "good" for.
Summers was responsible for setting up the NO Regulations situation that lead to the collapse. He personally made sure that CDS were unregulated by the CFTC.
As Fed Chair he will do whatever it takes to keep Fed far away from regulating the banks.
At Harvard, he almost destroyed the school's endowment.
Saar KaL 11:07 GMT September 13, 2013
KaL's Trend and Level
will short gold around 1320 to 1328
Cable (Now Flat)
1.5848 seems like a top level today
eurusd 1.3323 tops (now Flat)
eurjpy Longs on dips is ok
and gbpjpy
GOT PK 10:27 GMT September 13, 2013
They know ahead
lengthy article, but perhaps solving the overnight arguments on gold. a good weekend read.
GVI Forex john -- Inner Circle 10:16 GMT September 13, 2013
They know ahead
Link fixed. Please use the link template below the "comments" box.
For some reason, links have gotten to be ridiculously long and get chopped off.
GOT PK 10:14 GMT September 13, 2013
They know ahead
try this one
http://www.mauldineconomics.com/ttmygh/what-if
GVI Forex john -- Inner Circle 09:43 GMT September 13, 2013
They know ahead
RF- Get a grip. No one has stolen anyone's gold.
GVI Forex john -- Inner Circle 09:39 GMT September 13, 2013
Nikkei: Obama naming Summers Fed Chair next week. Key data up
Reply
- HIGH
IMPACT ITEMS: JP- Industrial Output. US- Retail Sales, University of
Michigan Survey
- The big story overnight has
been
a report in the Nikkei that Obama could name Summers as the next Fed
Chairman as early as next week. Keep in mind the Fed Chairman needs
approval by the Senate. There is little doubt that he would be
approved. He would take office early in 2014. .
- Tokay sees key U.S. Retail
Sales
data and September
preliminary University of Michigan Sentiment figures.
- We feel
the Fed plans to announce a "taper" of its asset purchases next
week. Most see a USD 10-15 bln cut. The September 18 FOMC
includes a
press conference so
it is the ideal time to explain a policy change.
- For additional key items and
more detail (dates, times, data estimates), be sure to reference our Economic
Calendar . See the FOREX FORUM
for latest key data and charts as they are released.
20d
avg
|
10-yr
|
Equities
|
EURUSD
1.3287
|
JGB
0.73% 0bp
|
Asia
Close Lower
|
USDJPY
98.70
|
Bund
2.03% +9bp
|
Europe
Lower
|
EURJPY
131.15
|
U.S.
2.93% +2bp
|
North
America: Lower
|
GVI Forex Blog 09:38 GMT September 13, 2013
Reply
HIGH IMPACT ITEMS: JP- Industrial Output. US- Retail Sales, University of Michigan Survey
The big story overnight has been a report in the Nikkei that Obama could name Summers a the next Fed Chairman as early as next week. Keep in mind the Fed Chairman needs approval by the Senate. There is little doubt that he would be approved. He would take office early in 2014. .
Nikkei: Obama naming Summers Fed Chair next week. Key data up
HK [email protected] 09:38 GMT September 13, 2013
They know ahead
Reply
In a corrupt country stealing gold from those who trusted them, probably every game is rigged and fixed ahead.
So likely those banksters know every econ. number B4 it will be a public knowledge.
I just wonder how retail sales will look in an environment of bad NFP, low new housing sales.
GVI Forex john -- Inner Circle 09:34 GMT September 13, 2013
Fixed Income
I think we will have a clear idea on taper after this Wednesday. Expect it to start out cautiously. The Summers appointment is completely unrelated to taper. Bernanke's term runs out in January and they had to allow time for the confirmation process.
Paris ib 09:25 GMT September 13, 2013
Fixed Income
We might have a clear taper schedule all set out by the time / if Summers takes the chair. It looks to me like Summers won't be the key to the size or the timing of the taper, so whatever these guys were trying to do with this leak, I'm not sure it carries all that much relevance for next week's announcement re the taper. How incredibly tiresome.
GVI Forex john -- Inner Circle 09:22 GMT September 13, 2013
Fixed Income
Nikkei is a strange source for leaking the story. This is clearly a leak, imho.
GVI Forex 09:14 GMT September 13, 2013
Fixed Income
Yes. The taper decision will be made before he becomes chair, but I seriously doubt it will be over. Also, keep in mind that the Chair is not a dictator. He/she only has one vote. but a lot of influence in the committee. Its conceivable Summers could be voted down if he proposes a polcy the board disapproves.
Paris ib 09:11 GMT September 13, 2013
Fixed Income
And the story comes from the Nikkei because the Japanese are quite happy with a higher USD/JPY. It helps their exports and allows them the option to repatriate funds at a relatively good exchange rate !!
Paris ib 09:08 GMT September 13, 2013
Fixed Income
So in fact Summers might come in when the taper had already been announced and, maybe, might already be over? If they start tapering this month, it won't take that long for them to reduce FED purchases to nothing.
So the whole story could just be a major distraction. Summers might not make ANY taper decisions (except maybe not to start QE all over again in the case of another economic slowdown.... which is a very, very hypothetical future scenario and not really relevant to the current taper issue). Good grief.
GVI Forex john -- Inner Circle 09:02 GMT September 13, 2013
Fixed Income
Honestly, I really don't know. The Summers talk does not go away. I'm wondering if the Nikkei story is another trial balloon. Their plan might be to change the subject from Syria?
Keep in mind that Summers would have to be approved by the Senate,. So he would not be coming in until early next year. As a practical matter, the Fed President has recently tended to be a non-partisan post. Summers was a very good Treasury Secretary under Clinton. He will be a good Chairman as would have been Yellen.
Paris ib 08:48 GMT September 13, 2013
Fixed Income
John what do you think the chances are for a Summers appointment? I saw somewhere that Obama was delaying any announcement until after the Syria crisis is resolved (one way or the other I guess). That now looks like weeks away. The U.N. report is not expected for a while, they have to cultivate human tissue or something to get information regarding the chemical attack. It's all very blurry.
GVI Forex john -- Inner Circle 08:42 GMT September 13, 2013
Fixed Income
Reply
Early in Europe, prices in prime fixed income markets are mostly loweer following a press report that Obama could appoint Summers as the next Fed chief next week. Peripheral bond prices are lower as well.
Paris ib 07:39 GMT September 13, 2013
Syria Again
Reply
Assad wants America to stop supplying the 'rebels' with arms as a condition for peace. Fair enough, I suppose. I wouldn't be happy with arms trafficking to a rag tag bunch of rebels who are in some cases mercenaries, foreigners and/or religious fanatics. Still this is not going to be an easy process. We have delay and a kind of pause in the whole risk on / risk off story.
Kerry and Assad...
Hong Kong AceTrader 07:14 GMT September 13, 2013
Sept 13 : DAILY USD/CHF OUTLOOK
Reply
DAILY USD/CHF OUTLOOK - 0.9324
13 Sep 2013 07:10GMT
Although dlr has recovered after extending fall fm last Thur's 6-week 0.9455 high to 0.9272 y'day, as long as 0.9371 holds, aforesaid decline to retrace upmove fm Aug's low at 0.9147 shud resume n extend marginally to 0.9265 (61.8% r).
Trade fm short side for this move with stop abv 0.9371, break risks gain to 0.9395 n 0.9420/30.
STRATEGY : Hold short
POSITION : Short at 0.9340
OBJECTIVE : 0.9270
STOP-LOSS : 0.9375
RES : 0.9335/0.9371/0.9395
SUP : 0.9272/0.9239/0.9206
HK [email protected] 06:24 GMT September 13, 2013
Agreement with the Devil will not pass. Obama came out a bum again!!!
Reply
Syria chemical weapons sites being dispersed: Wall Street Journal
FRIDAY SEP 13, 2013 - REUTERS
Sept 13 () - WASHINGTON (Reuters) - An elite Syrian unit that runs the government's chemical arms program has been scattering the weapons to dozens of sites across the country, potentially complicating U.S. plans for air strikes, the Wall Street Journal reported.
The newspaper, citing unnamed U.S. officials and lawmakers briefed on the intelligence, said on its website on Thursday that a secretive military group known as Unit 450 had been moving the stocks around for months to help avoid detection of the weapons.
U.S. and Israeli intelligence agencies and Middle Eastern officials still believe they know the location of most of the government's chemical weapons supply, the Journal said.
But "we know a lot less than we did six months ago about where the chemical weapons are," one official was quoted as saying.
The Journal quoted a senior U.S. official as saying that Washington estimated that Damascus had 1,000 metric tons (1,102 tons) of chemical and biological agents, "although there might be more."
After traditionally storing most of its chemical and biological weapons at a few sites in western Syria, the government started dispersing the weapons about a year ago, officials said.
They added that the United States now believed the arsenal had been moved to up to 50 sites in the west, north, south and east of the country.
PAR 06:06 GMT September 13, 2013
Friday the 13th
Reply
Wish everybody a profitable and exciting Friday the 13th .
Usually markets are very quiet on such days
Paris ib 06:01 GMT September 13, 2013
Global Markets News
If anyone can come up with a straight answer on this one, I for one, would be happy to have it.
"Yes and No" does not really qualify as a straight answer.
The U.S. FED
Paris ib 05:58 GMT September 13, 2013
Global Markets News
The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to private corporations..
...ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.
The FED
Paris ib 05:52 GMT September 13, 2013
Global Markets News
I'm doing a re-edit since that last post was such a mess:
[email protected] the interesting thing about this is the little understood fact that the Federal Reserve in the United States, of which there are many, the Federal Reserve of New York is just one - and possibly the murkiest - is in fact NOT a Government institution. So the Germans, and others, have Gold stored with NON government institutions who appear to have, well, stolen it. Now the Germans are (and have been at least since the start of this year) selling all those little bits of paper which confirm they own Gold (stored with the Federal Reserve of New York). At the same time the Germans are buying Gold for delivery in an attempt to recoup at least some of their Gold. This explains both the fall in the price of tradeable Gold (which is likely to continue if not actually accelerate) and the squeeze on deliverable Gold.
U.S. Treasuries, on the other hand, are U.S. Government debt which means that all U.S. taxpayers are liable.
A very murky area.... and the way the U.S. has set up its finances with this private group of banks going under the name Federal Reserve and acting as the American Central Bank is the absolute murkiest.
Either way none of this does anything to improve the faith in the USD or the United States' economy.
Central Kwun 05:52 GMT September 13, 2013
Global Markets News
Sell Gold
Entry: Target: Stop:
ed kw, that is old news, why no one mentioned this when gold is 1400-1433? fall is fall, no need excuse/reason
Paris ib 05:47 GMT September 13, 2013
Global Markets News
[email protected] the interesting thing about this is the little understood fact that the Federal Reserve in the United States, of which there are many Federal of New York - possibly one of the murkiest, is in fact NOT a Government institution. So the Germans, and others, have Gold stored with NON government institutions who appear have, well, stolen it. Now the Germans are (and have been at least since the start of this year) selling all those little bits of paper which confirm they own Gold which appears now to have disappeared. At the same time they are buying for delivery in an attempt to recoup at least some of their Gold. This explains both the fall in the price of tradeable Gold (which is likely to continue if not actually accelerate) and the squeeze on deliverable Gold.
U.S. Treasuries, on the other hand, are U.S. Government debt which means that all the U.S. taxpayers are liable.
A very murky area.... and the way the U.S. has set up its finances with this private group of banks going under the name Federal Reserve and acting as the American Central Bank the absolute murkiest.
HK [email protected] 05:30 GMT September 13, 2013
Global Markets News
The American Gov. stole the German gold ye ye.
The image of the US is now at the bottom of the trash can and not for that reason only.
That is the reason they try the best to bring prices of gold down.
Just to prevent a rush into gold, as a sign of mistrust in the US.
Those who didn't learn the case of Germany gold, will eventually learn it in US bonds.
If China will not remove fast enough their money from US investments, they will suffer the same faith.
But it is ok. The US has no physical gold, but their running dogs Banksters will sell you as much as you wish paper gold hehehe.
Syd 04:55 GMT September 13, 2013
AUD/USD weakness here to stay, while below 0.9280...
Reply
The healthy Aussie rally came to a sudden and rather unexpected end following an awful jobs report out of Australia yesterday, which seems to have acted as a well-timed reminder of what side is still dominating the AUD/USD charts.While a whisker away from blowing reported large stops above the 0.9350 handle yesterday, the downbeat jobs triggered a cascade of heavy offers in the Australian Dollar, with the abrupt reversal being confirmed by the print of a bearish outside day below 0.9280 on Thursday, after collapsing as low as 0.9225 along the US session, before a timid recovery got underway.
In a textbook technical retest, the AUD/USD rose to flirt with 0.9280 back again late US, yet was rejected to the pip by renewed committed sellers, whose conviction just took the exchange rate back below the 0.9250/55 support zone as we type these lines.
Range with risk to further downside anticipated
In terms of fundamentals, there will be no more first-tier drivers for neither currency until FOMC next Sept 17, barring any geopolitical tension coming back. This means a range environment - risk skewed to the downside - may ensue until FOMC.
It is more than probable that given the bearish technical close on Thursday, large sectors of the AUD/USD trading community may have turned their views to the bearish side again. Immediate support comes at 0.9225/35 - early Thur US lows - ahead of 0.9190/0.92 and deeper falls towards 0.9120 - Sept 5 swing low -. On the upside, a break and hold above 0.9280 first in needed. FXSTREET
Hong Kong AceTrader 02:02 GMT September 13, 2013
Sept 13 : The greenback falls on fading expectation of Fed's tapering
Reply
Market Review - 12/09/2013 22:29GMT
The greenback falls on fading expectation of Fed's tapering
The U.S. dollar weakened broadly on Thursday as doubts over whether the Federal Reserve will start tapering stimulus on the Federal Reserve's policy decision next week persisted after last week’s U.S. jobs report.
U.S. initial jobless claims fell sharply last week to 287K versus previous reading of 323K, dropping to the lowest level since 2006, however, the report said the decline was largely due to two states not processing all their claims because of computer upgrades.
Versus the yen, the dollar continued to move lower in Asia and extended fall from Wednesday's high of 100.62 to 99.20 at European open, however, the release of sharp drop in U.S. claims lifted price briefly to 99.73 in New York morning. Later, dollar's broad-based weakness pressured price again and the pair tanked to a fresh session low at 99.00 in New York afternoon before recovering.
The single currency retreated versus U.S. dollar in Asia after failure to penetrate Wednesday's high of 1.3325 and ratcheted lower in Europe in part due to active cross-selling of euro, price tanked to a session low of 1.3256 in New York morning after release of U.S. jobs report but climbed back above 1.3300 level to 1.3325 again later in the day due to dollar's broad-based weakness, last seen around 1.3300 near New York closing.
On the data front, report showed that industrial production in the euro area fell by 1.5 percent in July, the biggest drop in 12 months, and declined 2.1% on year-to-year basis to the lowest level since April 2010.
Cable dropped in tandem with euro in Asia and European trading and briefly fell to 1.5776 in New York morning, however, renewed dollar's broad-based weakness lifted price from there and cable later rose above Wednesday's high of 1.5832 to a fresh 7-month peak at 1.5840 before profit-taking pressured price to 1.5805.
In the other news, Bank of England Governor Mark Carney said on Thursday that 'if recovery were to falter, we would consider providing extra stimulus; economy is picking up, stimulus is working; although it is early days, we think we are on path to return inflation to 2%; one-member-one vote MPC is a strength of UK monetary policy system; uncertainties on UK productivity and labour market slack are larger than usual; new MPC members will need to declare if they will operate under forward guidance; rise in long-term interest rates in advanced economies is because of stronger growth outlook; need to make sure this is not another false dawn; sustainable rebalancing of U.K. economy requires return to productivity growth above what BoE forecasts; I am not afraid to raise interest rate if appropriate.'
In commodity currencies, RBNZ kept benchmark rate at 2.5 percent on Thursday but signalled interest rate hike next year, New Zealand dollar rose to a 3-week high of 0.8158 after the hawkish statement before easing. Meanwhile, Australian dollar tumbled from a near 3-month peak at 0.9355 to as low as 0.9227 after Australian employment change posted its worst showing in five months, a decrease of 10.8K versus market expectation of a gain of 10.0K and declined for the second straight month.
Data to be released on Friday:
New Zealand Business NZ PMI, ANZ consumer confidence, Japan industrial production, capacity utilization, EU trade balance, U.S. PPI, retail sales, university of Michigan consumer confidence, and business inventories.
Mtl JP 01:46 GMT September 13, 2013
Global Markets News
I can't hold barrels of smelly oil or flammable gasoline.
I can hold glimmering, inert Gold chain / coin / bar
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usdyen Pivot Res 1 99.95 above Res 2 100.45
Livingston nh 00:56 GMT September 13, 2013
Global Markets News
RF JP - step away from experts - economics/finance is contextual not absolute // don't think like they think
dc CB 00:54 GMT September 13, 2013
Global Markets News
What's the big deal about the 5 year anniversary of the Lehman collapse?
The Big Deal is not the collapse, but the 5 Year Statute of Limitations. That's why there is all this business press LookBack stuff. Once the Clock ticks past 5 ... call let out a big breath and start all over again....Free to Screw the world.
The banging of gold and silver is just a taste of what's coming.
2008 to 2013: Crisis, Recovery, and Change
Livingston nh 00:52 GMT September 13, 2013
Global Markets News
Treasurys are money - currency with a coupon // different from private debt
HK [email protected] 00:50 GMT September 13, 2013
Global Markets News
Also US bonds are not money, you can't pay for anything in the store.
The lesson from the missing Germany gold should alarm every US bond holder.
Livingston nh 00:48 GMT September 13, 2013
Global Markets News
There is not enough gold in the world to care about -- gdam useless - the world changed 40 yrs ago
Livingston nh 00:44 GMT September 13, 2013
Global Markets News
JP big money doesn't care about gold --- all the money in the world is a day of gold transaction --energy is the key not dumb commodity
Mtl JP 00:39 GMT September 13, 2013
Global Markets News
Gold has the interest of your masters . It is a problem for them IF you should have interest in it. that is why they are making difficult for you to own it
Livingston nh 00:30 GMT September 13, 2013
Global Markets News
RF - yeah. maybe in your world - gold is a commodity has no money interest /// watch interest rates to find gold price --- simple simple
HK [email protected] 00:24 GMT September 13, 2013
Global Markets News
Livingston nh
You can use gold to pay your taxes too.
First stop payments, then Gov. agents will come to your house confiscate your gold, and pay your balance.
Livingston nh 00:07 GMT September 13, 2013
Global Markets News
CB - she is a going to run into the wall /// pretty obnoxius - they'll run her out of town
Saar KaL 00:02 GMT September 13, 2013
KaL's Trend and Level
sold more gold and silver Just now
Gold hits 1265 next day
silver 20.2
Livingston nh 00:02 GMT September 13, 2013
Global Markets News
hehehhe - gold ain't money --- try payin' your taxes with it
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