dc CB 23:39 GMT July 29, 2014
Weekly Trading Planner
You forgot an important US Event for Friday Aug 1
The US Congress goes on vacation for 5 (FIVE) WEEKS.
Livingston nh 23:39 GMT July 29, 2014
Calendar -- Daily Forex News
JP - in an earlier life I used ESOPs to allow closely held corp clients to convert profit sharing (retirement plans) funds into buyouts - these were tax subsidized job preservation programs -- big corps that could have utilized these had no incentive to do so - jobs went elsewhere
Congressional unintentional consequences -- always happens with tax provisions (mortgage interest deductions, OBAMACARE subsidy)
Mtl JP 23:31 GMT July 29, 2014
Calendar -- Daily Forex News
talking of meatballs...
United States Employee Ownership Bank Act - by Bernie Sanders
.. to provide “loan guarantees, direct loans, and technical assistance to employees to buy their own companies. . .”
to “preserve and increase employment in the United States”
to preserve and expand jobs in the United States through Employee Stock Ownership Plans and worker-owned cooperatives
-
do I hear Vlad chuckle ?
Livingston nh 22:59 GMT July 29, 2014
Calendar -- Daily Forex News
The meatballs at the Fed are unlikely to see improvement in the US economy -- the CRISIS is still upon us // regardless of Q2 figs the TRUE BELIEVERS will whine about the myth of Great Financial Crisis -- get over it
This is what happens when you have government expertise running ANYTHING (see Soviet Union circa 1985)
sd sf 22:43 GMT July 29, 2014
Bots
Reply
GBP
as you will remember they got stopped quite a few times around 1.7095/1.7125 so they didn't hold longer term shorts on the move down to here
but what they are doing today is looking to sell 50 52 58
and buy 18 12 06 + 05
Eur
obviously a different type of move where they were able to build more of a position and trade around it.
this morning they are buying back shorts @8/9 and bid for more 97/98/99
you can see the reason why based on daily ranges - they just aren't large enough to stop them from taking profit every 40-50 points
AUDNZD
this one is the real mover in the automated FX Space with 1.1050 last line of defence before 1.1150-1.12
I actually don't have a position in this at this time - but I would put on a small manual long looking for a decent up move to clear out all the stale shorts.
eurcad/gbpcad - actually seen bids this morning rather than any profit taking from the lower buying .. continuation move I suppose is on the cards.
Looking at my book - the difference must come shortly where the daily ranges expand so the USD can rally some more .. and the automated strategies don't just t/p on every small move.... if we don't see that and we stay small ball then the USD rally will just end.
GVI Forex john 22:40 GMT July 29, 2014
Calendar -- Daily Forex News
July 29, 2014 (global-view.com) UPCOMING DATA HIGHLIGHTS for Wednesday, July 30.
Updated: Trading News Events Calendar
HIGH IMPACT NEWS RELEASES: EZ- Consumer Confidence, US- ADP Jobs, GDP, FOMC
Decision
- Far East: No Major Data.
- Europe: EZ- Consumer Confidence.
- North America: US- Mortgage Statistics, ADP Private Jobs, GDP, Factory Orders, Weekly Crude, 7-yr Auction, Fed Decision.
GVI Forex Blog 21:43 GMT July 29, 2014
AUD and NZD
Reply
US dollar strength and lower global interest rates were notable features overnight. Expectations the US central bank will slightly upgrade its economic outlook tomorrow, plus EU sanctions on Russia, appeared to be the main factors at play overnight. Equities were mixed, the Eurostoxx 50 closing up 0.6% but the S&P500 is currently down 0.4%.
Australia & NZ Morning Thoughts
Mtl JP 21:08 GMT July 29, 2014
Chart Points -- Trading Points
technically usdcad stayed above its 200dma gv chartpoint.
-
Bottom Line
It is now incumbent upon the (Fibonacci) retracement theory to prove itself next.
dc CB 19:45 GMT July 29, 2014
Obama to Speak
Today the 2:15 Express left the station right on time.
It just ran the wrong way.
Livingston nh 19:41 GMT July 29, 2014
Agree or Disagree? EURUSD
red - CAD JPY et al are breaking LT trendlines/Avgs --- when the LT support/Resistance collapses there is usually a test so EUR could go back towards 1.35 // Cable may be next - LT is still favorable (no avgs broken) but Gilts are now back below double digit Treasury spreads and could go negative like early Spring
Some Vol, some Vol, my kingdom for some vol
Paris ib 19:26 GMT July 29, 2014
Obama to Speak
"Russians have long been able to forgive domestic woes if an outside enemy is lurking."
hhahahahhahahahahahahah.... whereas Americans, no!! They have access to the real, absolute truth....
Let's make a list: Saddam Hussein, Osama Bin Laden, Putin..... who's next?
london red 19:23 GMT July 29, 2014
Agree or Disagree? EURUSD
nh, v interesting. i referred to these monthlies last week, not as a reason to buy but to just be wary. 50 month is just below the figure so it does seem we are at an infexion point. with the end of month fast approaching, its possible we will be 133xx by end thursday. but you'd look for a pullback then since its a new month and retracement theory applies 99% of time, the 1% is a major unexpected market moving event. in which case the following monthly bar is as big or bigger than the previous and retracement is minimal. so you'd be looking at 130-131 august low. as for major event? fed? russia? if you dont get this its quite possible 135xx trades august.
Livingston nh 19:15 GMT July 29, 2014
Obama to Speak
My wife just suggested afternoon soap operas affect his timing
Livingston nh 18:52 GMT July 29, 2014
Obama to Speak
John - my greater concern would be "when is he going to leave" (The Man Who Came To Dinner)
GVI Forex john 18:50 GMT July 29, 2014
Obama to Speak
It must be fun having him to dinner. You would never know when he is going to show up!
GVI Forex john 18:47 GMT July 29, 2014
Obama to Speak
Obama comments delayed until 20:10 GMT. So what is new here?
Mtl JP 18:42 GMT July 29, 2014
Risk On/Off Heat Map
10-yr up in price => yield down => Gold uP in price
lets say 10-yr the leading leg
GVI Forex john 18:29 GMT July 29, 2014
Obama to Speak
Reply
at around 18:50 GMT. Hearing its on EU sanctions against Russia.
GVI Forex john 18:27 GMT July 29, 2014
Risk On/Off Heat Map
10-yr 2.464% -2bp after strong 5-yr auction yields are back down. Credit markets have had a deflationary feel today. It can't be the Fed decision tomorrow can it?
Mtl JP 18:14 GMT July 29, 2014
Agree or Disagree? EURUSD
nh 17:54 - thx 4 that.
I ll be happy to see the red line fib (see pic) hit first if/when 1.34 breaks down
Livingston nh 17:54 GMT July 29, 2014
Agree or Disagree? EURUSD
wkly 144 EMA (1.3419) has been broken for first time since Ben's penguinesque cold feet "NEVER Mind" taper last September - a close here or below this week opens a lot of white space until 1.28// the 1.34 lvl is just an option number - all the short term support is gone and now wkly may be gone
Further out the 21Month sma is 1.3401 (still below 55 mthly EMA @22) so there is a decent chance the monthly could also break by Thursday
dc CB 17:27 GMT July 29, 2014
Downtime reading.
Reply
lawyers for three traders filed a Second Amended Complaint in Federal Court against Duffy, the Chicago Mercantile Exchange, the Chicago Board of Trade and other individuals involved in leadership roles at the CME Group.
The conduct alleged in the lawsuit, backed by very specific examples, reads more like an organized crime rap sheet than the conduct of what is thought by the public to be a highly regulated futures exchange in the U.S.
Lawsuit Stunner: Half of Futures Trades in Chicago Are Illegal Wash Trades
Mtl JP 17:15 GMT July 29, 2014
Risk On/Off Heat Map
ya solid... but for who ? 1.72% / yr is an insult but as long as players are eager and willing...
dc CB 17:08 GMT July 29, 2014
Watch Out for a Surprise
Wowie Zowie the 5 year auction
Indirect: 16,851,294,000
of the $34billion
Directs: less than $10
The PD's less than $10bln
1.69%
GVI Forex john 17:06 GMT July 29, 2014
Risk On/Off Heat Map
5-yr 1.72% bid-to-cover 2.81 vs 2.74.
solid auction.
GVI Forex john 17:03 GMT July 29, 2014
Agree or Disagree? EURUSD
Previously on a day like today. the 1.3400 line would have been a stop magnet. The big players would have run stop through that price to knock them all out. I guess the market has changed are those big player gone now, or is there an "invisible hand". holding prices at big figures to slow the descent of the EURUSD.
Thoughts?
london red 16:50 GMT July 29, 2014
Chart Points -- Trading Points
yes close abv 200 day bullish then a dip on US gdp would be nice 10780/10810 and then you need the fed to be brave. following day iffy canadian gdp could see this at 10940 by end of week. fed is the kink here though, lets see if they step up.
Mtl JP 16:48 GMT July 29, 2014
Watch Out for a Surprise
interesting
red 16:33 / market needs fed to step up
Livingston nh 12:29 / time for Mr. Market to stage an intervention
GVI Forex john 16:36 GMT July 29, 2014
Risk On/Off Heat Map
Europe markets went into a "risk-off" posture early and that set the
stage early in the U.S. Sentiment changed mid-morning in New York
trading when the latest Consumer Confidence reading was much stronger
than expected. The EURUSD is lower
at 1.3408, -30 pips.
- Yields in prime Eurozone fixed income
markets are ending lower and some yields are at multi-century lows.
Yields
on the European
periphery are mixed. EZ 10-yr 1.12%, -3bp.
- The U.K.10-yr gilt yield is
2.55% -3bp. A +25bp BOE rate hike is still expected by yearend.
- U.S.10-yr yield is 2.48%, -1bp. The
psychological pivot remains 2.50%
- Far East equities closed higher. Bourses in Europe
are mostly higher at their closes. . U.S. share futures are turning
positive.
The heat map color scheme
of interest rates reflects yields. This aligns all the colors in the
chart to reflect risk-on (green) and risk-off(red).
dc CB 16:35 GMT July 29, 2014
Watch Out for a Surprise
need to wait and see how it reacts to Gammy.
Usual is lower, but after the last meeting it jammed higher.
as I wrote when Yellen was doing the Humphry Hawkins, don't usually trade this, except for the "guareeteeeeeeed" downs:
1) whenever the Chair speaks before Congress.
2) whenever the FMOC meets.
london red 16:33 GMT July 29, 2014
Watch Out for a Surprise
took some time to break but now that they have, 9050 on swissy will be a marker for tomorrow. if held on a closing basis then dollar still up. fomc boxed into a corner must deliver goods or dollar bust vs the stronger majors. more on fomc tomorrow but market needs fed to step up as could be start of interesting phase for dollar.
Kazan 16:07 GMT July 29, 2014
FX Spot Volumes
Reply
Hello guys!
Can anybody know, Reuters Eikon for 1700 chf per month is only platform for have a look to FX Volumes (not number of ticks)
Is it alternative for retails trader?
Thank you before hands, Anthony
Paris ib 15:48 GMT July 29, 2014
Sanctions
Ruling party lawmakers propose altering Russian legislation to allow for automatic sanctions against foreign countries that the government includes on a special list of ‘aggressor nations’.....
Russia's response
Mtl JP 15:45 GMT July 29, 2014
Chart Points -- Trading Points
there are two big components to the Daily Trading Outlook:
1) estimated directional price movement (i.e magnitude)
and
2) choosing the right pony(s) - some gallop some are lame
for that gv's chart-points are a decent useful tool.
not all the time, but often enough
Paris ib 15:37 GMT July 29, 2014
Sanctions
Europeans have no real interest in placing sanctions on Russia - which would ultimately hurt European business. So this is just appeasing the United States.
Dillon AL 15:25 GMT July 29, 2014
Sanctions
Cos they have to run it by Putin first to make sure he won't turn off the Gas tap especially the one going to Germany whose dependency is 1/3rd more in equivalent terms than the rest of the EU
Mtl JP 15:17 GMT July 29, 2014
Sanctions
earlier the sanctioneers said they would publish names on Wednesday - tomorrow. dono really why the secretive trickle delays in this day n age of spying
GVI Forex 15:09 GMT July 29, 2014
Sanctions
Reply
10:45 (RU) EU said to have formally agreed to next round of sanctions on Russia - financial press
- Said to have reached agreement on the composition of the new package of sanctions that include: oil sector, dual use goods, defense, sensitive technology.
- To be reviewed after three months.
- To publish a list of entities affected.
- Source TradeTheNews.com
tokyo ginko 15:03 GMT July 29, 2014
Your Best Trade Today
sold 50% nikkei @ 15690...let the other half run till 16250
GVI Forex Blog 15:02 GMT July 29, 2014
Reply
July 29, 2014 (global-view.com) UPCOMING DATA HIGHLIGHTS for Wednesday, July 30. Updated: Trading News Events Calendar
HIGH IMPACT NEWS RELEASES: EZ- Consumer Confidence, US- ADP Jobs, GDP, FOMC Decision
GVI Forex Data Outlook for July 30, 2014
GVI Forex john 14:58 GMT July 29, 2014
Calendar -- Daily Forex News
Reply
July 29, 2014 (global-view.com) UPCOMING DATA HIGHLIGHTS for Wednesday, July 30.
Updated: Trading News Events Calendar
HIGH IMPACT NEWS RELEASES: EZ- Consumer Confidence, US- ADP Jobs, GDP, FOMC
Decision
- Far East: No Major Data.
- Europe: EZ- Consumer Confidence.
- North America: US- Mortgage Statistics, ADP Private Jobs, GDP, Factory Orders, Weekly Crude, 7-yr Auction, Fed Decision.
Mtl JP 14:36 GMT July 29, 2014
Sara “The world has changed,” Stevens
Reply
amazing predictive power of that young lass:
U.S. homeownership at 18-year low in second quarter
WASHINGTON (MarketWatch) - Homeownership in the United States fell again in the second quarter to the lowest level since the third quarter of 1995, suggesting many Americans are becoming renters. The seasonally adjusted homeownership rate fell to a seasonally adjusted 64.8% from 65.0% in the first quarter, the Commerce Department said Tuesday. .. Many analysts say the housing sector will remain weak until first-time buyers return to the market.
-
The many analysts still seem to not get that The world has changed.
GVI Forex john 14:32 GMT July 29, 2014
July 2014 U.S. Conference Board Survey
So the employment readings improved in July. However the percentage saying jobs are plentiful are still very low at 15.9%
GVI Forex john 14:29 GMT July 29, 2014
July 2014 U.S. Conference Board Survey
from Conference Board Press Release:
Consumers’ assessment of current conditions improved in July. Those claiming business conditions are “good” edged down to 22.7 percent from 23.4 percent, while those stating business conditions are “bad” was virtually unchanged at 22.7 percent. Consumers’ appraisal of the job market was more favorable. Those saying jobs are “plentiful” increased to 15.9 percent from 14.6 percent, while those claiming jobs are “hard to get” remained unchanged at 30.7 percent.
GVI Forex john 14:24 GMT July 29, 2014
July 2014 U.S. Conference Board Survey
I don't find the sentiment surveys PMIs etc to have a lot of predictive power. I find that they do give a decent representation of current conditions only.
Mtl JP 13:52 GMT July 29, 2014
Chart Points -- Trading Points
usdcad chart points
Res 3 1.0839
Res 2 1.0829
Res 1 1.0816
Pivot 1.0806
bias is UP while above the Pivot
-
200 day 1.0839, currently resistance.
Bottom Line:
Should it give on closing basis we might see a power move uP
SaaR KaL 13:49 GMT July 29, 2014
Day's Trades
EURUSD from 1.3410 to 1.3455 next day to possible 1.3478
Mtl JP 13:47 GMT July 29, 2014
Watch Out for a Surprise
all those events (FOMC, GDP, NFP) are for later in the week
-
lets see player reaction to sentiment of the us consumer first, unlikely to cause a storm day unless it prints way outside of estimate
note:
One-third of Americans are drowning in debt
More than one-third of Americans had debt in collections in 2013, according to a new study by the Urban Institute, which analyzed credit reporting data for more than 7 million consumers. The report is based on data from Transunion, one of the three major credit reporting agencies.
In order to be released to debt collectors, unpaid balances have to be more than 180 days past due. Of the 35% of Americans with non-mortgage debt in collections, the average outstanding debt balance was $5,200, according to the report. .../..
(the potentially good news part is that Debt Collectors are busier than ever so maybe their economic activity will boost the GDP reading)
GVI Forex john 13:41 GMT July 29, 2014
Agree or Disagree? EURUSD
Although I feel the Conference Board Survey is an important report, I doubt it will be a market mover either way.
Mtl JP 13:22 GMT July 29, 2014
Agree or Disagree? EURUSD
what events r u talking about to make a "storm" day ?
only event on deck that has some potential to elicit player reaction is the us consumer confidence at the top of the hour
expected to print 85.5 vs previous 85.2
GVI Forex john 13:09 GMT July 29, 2014
Agree or Disagree? EURUSD
Lets see if EURUSD will find support at 1.3400.
If not we could fall another step to just above 1.3300. This has been a step trade downward.
GVI Forex Jay Meisler 13:07 GMT July 29, 2014
Chart Points -- Trading Points
Support is around 1.3400, back above 1.3420-25 would be needed to slow the risk.
FWIW, the bias expressed in my videos is working nicely (note, I have been offering free access to them)
Mtl JP 13:01 GMT July 29, 2014
Risk On/Off Heat Map
john 12:56 it is player reaction to the US neocons wanting war
GVI Forex john 12:56 GMT July 29, 2014
Risk On/Off Heat Map
10-yr now 2.455% -2.5bp. Not sure what's going on??
London Chris 12:53 GMT July 29, 2014
Is anyone trading?
This is turning into a good trading day but the fall in bond yields is what does not add up. Maybe it is just curve flattening but I am giving up trying to figure this side out.
Mtl JP 12:52 GMT July 29, 2014
Risk On/Off Heat Map
12:33 / maybe there are some shorting opportunities
GVI Forex 12:33 GMT July 29, 2014
Risk On/Off Heat Map
Risk on with blinders on (note DAX)
'
(RU) Russian Duma reportedly considering legislation branding the US an "aggressor nation," would ban American firms from working in Russia - blogs
- Source TradeTheNews.com
london red 12:31 GMT July 29, 2014
cable
Reply
Supp at 43 a break targets 09 but unlikely to go far with fed amd gdp tomorrow so better to fade. Res 64 and fig.
Livingston nh 12:29 GMT July 29, 2014
Traders view of the U.S. money markets heading into the FOMC decision on Wednesday
As usual the Fed bank presidents away from the money centers are the core of a change faction - closer to businesses and regional bankers where ZIRP is a problem, not a cure // Fisher's focus on inflation is being panned as the "boy who cried Wolf" and he is unlikely to make waves w/ a dissent yet -- his problem like many folks who decry "money printing" op by the Fed is that the Twist and the currently fading QE was a "buying money" op - it is not a coincidence that inflation is rising as the Taper continues
Folks have been saying the Fed is addicting the markets to cheap money - my view is the Mr. Market is not the addict but rather the enabler for the FED, the real Addict (see Yellen's constantly shifting excuses for maintaining current policy) -- time for Mr. Market to stage an intervention
sd sf 11:48 GMT July 29, 2014
Is anyone trading?
when FX goes quiet - I work on Gold / Silver and Oil strategy because there always seems to be more movement in those.
Lack of posting - just means nothing to say - that hasn't already been covered already.
SaaR KaL 11:47 GMT July 29, 2014
Day's Trades
Reply
if want to long EURUSD for more then one month
I suggest you long
from 1.3270 to 1.3150
for tgt 1.42
Mtl JP 11:39 GMT July 29, 2014
Risk On/Off Heat Map
Risk Off = Dollar rally + widening credit spreads (folks dumping weak creadit) + smart money laying low anticipating - rightly or wrongly - stox correction
GVI Forex john 11:12 GMT July 29, 2014
Traders view of the U.S. money markets heading into the FOMC decision on Wednesday
We are not expecting much from the Fed tomorrow. The central bank is in the final stages of winding down its asset purchase program. It is scheduled to go to zero after the October FOMC. They want to end this program with no hiccups, so it might be wise not to rock the boat with other issues.
The press is trying to make a story about some possible policy dissent just to come up with a story. Why risk it for no reason?
GVI Forex john 11:03 GMT July 29, 2014
Risk On/Off Heat Map
US 10-yr 2.471% -2.0bp
DE 10-yr 2.125% -2.5bp
I'm not completely sure why markets are in this risk-off posture today? Thoughts??
London Chris 10:45 GMT July 29, 2014
Is anyone trading?
Maybe the quiet is also because the many usd bears have gone into hibernation.
GVI Forex john 09:54 GMT July 29, 2014
EUR Heat Map
Reply
EUR-based Heat Map. Forex from a EUR point of view. EUR narrowly higher, but up sharply vs. the NZD. Spot to 20-day averages remain negative.
GVI Forex Blog 09:51 GMT July 29, 2014
Forex News
Reply
This is a good summary of the current focus
* New Zealand dollar slips after Fonterra cuts payout forecast
* Dollar index holds near six-month peak, euro eight-month trough
* Fed, U.S. GDP & payrolls key tests for markets this week
* Euro zone inflation and China PMI also in focus
FOREX-Kiwi dips on dairy worries, dollar holding strong
London Chris 09:17 GMT July 29, 2014
Is anyone trading?
Reply
My question is whether anyone is trading or are we all waiting for this event week to start" Raise your hand if you traded today.
Hong Kong AceTrader 08:54 GMT July 29, 2014
AceTrader Jul 29: Intra-Day Market Moving News & Views USD/JPY
Reply
Intra-Day Market Moving New and Views
29 Jul 2014 05:35GMT
USD/JPY - .... The pair flirts with 102.00 level ahead of European open after penetrating Fri's 2-week high of 101.94 as intra-day gain in the Nikkei to a fresh 6-month peak of 15632 triggered broad-based selling of yen. Present dlr's across-the-board strength vs G7 currencies also provides further sup to the dlr to head higher.
At present, offers at 101.95/05 are being absorbed, some stops are touted above there, however, more selling interest is noted at 102.25/35 which is likely to cap intra-day gain. For now, buying dlr on dips is still favoured n bids have been raised to 101.85/75 with stops below 101.60.
GVI Forex john 08:41 GMT July 29, 2014
Risk On/Off Heat Map
Reply
Europe markets are in a "risk-off" posture early Tuesday as a
slew of high impact data due in the second half of this week. German
10-yr bund yields have made new record lows. The EURUSD is steady
at 1.3436.
- Yields in prime Eurozone fixed income
markets are lower and remain well below recent levels. Yields
on the European
periphery are down. EZ 10-yr 1.13%, -2bp.
- The U.K.10-yr gilt yield is
2.56% -2bp. A +25bp BOE rate hike is still expected by yearend.
- U.S.10-yr yield is 2.48%, -1bp. The
psychological pivot remains 2.50%
- Far East equities closed higher. Bourses in Europe
are mostly lower. U.S. share futures are down.
The heat map color scheme
of interest rates reflects yields. This aligns all the colors in the
chart to reflect risk-on (green) and risk-off(red).
UK Rob 08:40 GMT July 29, 2014
NZD
Reply
NZD is the loser today with tight ranges for the others. Get ready for movement starting tomorrow.
London London 07:29 GMT July 29, 2014
Reply
Sell Gold
Entry: 1307.40 Target: 1301.90 Stop: 1308
Visit us for mor signal forex trading
Hong Kong AceTrader 02:50 GMT July 29, 2014
AceTrader Jul 29: Intra-Day Market Moving News & Views & data to be released today
Reply
Intra-Day Market Moving New and Views USD/JPY
29 Jul 2014 01:33GMT
Statement from BoJ's broad member Koji Ishida, quote:
'Japan's economy continues to recover moderately;
exports continue to move sideways, lacking momentum;
structural factors, such as shift of Japan firms' production overseas, may be partly behind soft exports;
capex expected to increase moderately as a trend;
next month's Q2 GDP data likely to show negative growth but economy's positive momentum seen intact;
effect of April sales tax hike likely to subside gradually;
labour market conditions likely hold key to whether household spending will remain firm;
want to scrutinise whether companies increasingly translate costs to consumers through higher prices;
environment surrounding exports to gradually improve as global growth pick up, tough uncertainty remains;
QQE exerting intended effects on markets, Japan's 10-year JGB yield remains at very low levels;
inappropriate to judge if BoJ's target by looking at core CPI alone, must take into account other data too to guage overall price trend.'
Data to be released on Tuesday:
Japan unemployment rate, retail sales, Australia HIA home sales, Germany import prices, U.S. Redbook retail sales and consumer confidence.
nw kw 02:33 GMT July 29, 2014
Weekly Trading Planner
S&P Tuesday reaffirms Australia's AAA sovereign rating and maintains a stable outlook. But it has concerns about external debt. The banking system, in particular, has a lot of external debt and relies heavily on the continued backing of foreign investors, S&P says. "We could lower the ratings if external imbalances were to grow significantly more than we currently expect--either because the terms of trade deteriorate quickly and markedly or the banking sector's cost of external funding increases sharply," it says. ([email protected])
NY JM 01:15 GMT July 29, 2014
Agree or Disagree? EURUSD
Looks like one more day biding time until a barrage of key events for the rest of the week.
Market will stay bearish as long as below 1.3450-55
I have included a chart to illustrate its current state of mind. By way of explanation There are two interest rate lines. The RED dashed line is the official Fed administered cost of overnight funds (Fed Funds). It does not change frequently. The other RED line is the free market cost of funds for two years. The market two year rate amounts to a forecast for the official administered rate for the next two years.
We are starting an affiliate program to market some of our products.
