Forex Forum Archive for 02/24/2018

Mtl JP 19:38 GMT February 24, 2018
LATVIA

The FIX is in:

FRANKFURT—A major Latvian bank facing U.S. sanctions for allegedly helping North Korea will be wound up under local laws after the European Central Bank declared it “failing or likely to fail.”

ECB Pulls Plug on Latvia’s Failing ABLV Bank
Bank, which faces U.S. sanctions for allegedly helping North Korea, said it would be liquidated

Mtl JP 13:12 GMT February 24, 2018
Breaking News

German Bundesbank President Jens Weidmann, a leading but controversial candidate to take the helm of the European Central Bank, pushed back in a Financial Times interview on the idea that the nationality of the institution’s head is an important consideration.

‘This discussion about a candidate’s nationality is ‘completely absurd. I mean, would you have asked if this institution is right for an Italian?’

The focus on nationality of next ECB chief is ‘completely absurd,’ says top candidate

GVI Trader Jay Meisler 13:07 GMT February 24, 2018
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GVI Forex Blog 12:01 GMT February 24, 2018
Commitment Of Traders Report for 20 February 2018 Data
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Forex trading is all about stops. The Commitment of Traders Report (COT) can be an imperfect, but often useful, "sampling" of market positioning. I would prefer more frequent and precise readings, but we have to live with what we get. The data work for the purpose of getting an idea if traders are positioned long or short and if they are in large or small. Where and how large the stops may be is critical trading intelligence.

The data we monitor are the positioning of large traders who usually are thought of as the "smart money". These data usually may not correlate well with the the various retail trader statistics. Each set of data tells you different things about potential stops.

EURUSD net long positions continued to hold above the old 100K ceiling as of Tuesday's close. Odds are they will have been trimmed significantly since then. The EUR turned soft in the lattr half of the week just ending. The heavy blue line (once a week spots) provides a useful perspective on the support (or lack thereof coming from the price action.

As the developing alternative reserve currency twin to the USD, keep in mind EUR positions are not just against the USD. EUR crosses vs. the JPY and GBP are critical. The European economy continues to improve and that should remain a EUR positive.





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Commitment Of Traders Report for 20 February 2018 Data