Submitted Oct 31, 2012|From forexblog.oanda.com|21 comments

Stateside investors will be trying to get back to some sense of normalcy today, but expect it to be a longer haul for Wall Street. It will come as no surprise to see many of the Big Apples traders sit out the remainder of the week amid the chaos of ...

Submitted Oct 30, 2012|From forexblog.oanda.com

It difficult to remain engaged in a market that is nearly almost closed this side of the Atlantic. Participants are very much distracted by Hurricane Sandy’s images of destruction that dominates all forms of media. By day’s end, she is expected to ...

Submitted Oct 29, 2012|From forexblog.oanda.com|10 comments

Market focus Stateside will be on Hurricane Sandy and not on trading books. With Sandy barreling towards the US’s North East coast, has pressured President Obama to sign emergency declarations for several states, including New York. Some low-lying ...

Submitted Oct 27, 2012|From forexblog.oanda.com

Economic news out of China were flat this week but were taken as good news considering the current European crisis. The Ministry of Industry and Information Technology expects China’s economic growth to accelerate in the fourth quarter. The deficit ...

Submitted Oct 27, 2012|From forexblog.oanda.com

This week the Greek goverment was very optimistic about his proposed agreement extentions. Politicians from Germany and Netherlands on the other hand have been very vocal in their dissapointment with Greek efforts to push auterity reforms forward ...

Submitted Oct 25, 2012|From forexblog.oanda.com|3 comments

As the Euro investor digests a plethora of earnings reports, the single currency has been dragged higher this morning, mostly by its compatriot, Sterling, and into a territory where sellers tend to domicile. Overhanging recent events in the US and ...

Submitted Oct 24, 2012|From forexblog.oanda.com

For the FX trader the answer seems to be to follow equities. So far, stock moves look to be pushing FX back into risk averse mode. There was a short reprieve to abated risk attitudes at the Asian open when investors welcomed an improvement in ...

Submitted Oct 23, 2012|From forexblog.oanda.com|4 comments

It’s a pivotal week for the loonie, starting with today’s retail sales data release for September and the BoC monetary policy rate announcement half an hour later. Tomorrow we have the MPR report. Last week’s weaker than expected September CPI ...

Submitted Oct 22, 2012|From forexblog.oanda.com|5 comments

Hands up anyone who was not disappointed with the EU summit outcome? Again the meetings have failed to produce any meaningful developments. Efforts to push for a banking union ran into resistance from the usual set of suspects, led not surprisingly, ...

Submitted Oct 18, 2012|From forexblog.oanda.com|4 comments

To date, the EUR has been hitting all the high notes, just in time for the main event this week, the EU summit meeting. Many investors had been waiting for this meetings outcome before applying their own proactive trading strategy. They have been ...

Submitted Oct 17, 2012|From forexblog.oanda.com|10 comments

There is a sense of renewed optimism in capital markets this morning. Speculation of a Spanish application for a precautionary bailout is providing positive fodder for the EUR. Along with Moody’s reaffirming Spain’s rating at investment grade this ...

Submitted Oct 16, 2012|From forexblog.oanda.com

Risk this morning is being tentatively applied on signs of stronger fundamentals in the US economy. Spain, too, appears to be softening its stance on seeking financial assistance. A senior Spanish official revealed yesterday that Madrid is ...

Submitted Oct 15, 2012|From forexblog.oanda.com|42 comments

Looking at the price action that took place in the overnight session, one can only say that it was somewhat confusing and predominantly technical in nature. In early morning Asia, the single unit was making an assault on 1.29 and a few hours later, ...

Submitted Oct 12, 2012|From forexblog.oanda.com|2 comments

The International Monetary Fund is starting to break away ideologically from the rest on the troika on the topic of Greece. The IMF is supporting an extension to the agreement and debt write downs. Those two are vehemently opposed by the EC and the ...

Submitted Oct 12, 2012|From forexblog.oanda.com|5 comments

The majors are managing to hold the status quo in another uneventful overnight session. FX traders are equity watching, FI dealers are equity watching and the equity dealers are waiting for JPM and WFC to report their Q3 earnings release where there ...

Submitted Oct 11, 2012|From forexblog.oanda.com|112 comments

It seems that S&P officially has run out of patience with the Euro authorities. The real surprise about the Spanish Debt downgrade is that it was announced late Wednesday and came from S&P rather than Moody’s. Overall, it’s not that surprising given ...

Submitted Oct 10, 2012|From forexblog.oanda.com|1 comment

What is this market waiting for now? The US debates, CPI and/or US November employment numbers? What ever it is, this market is lacking true conviction. Price movement are being easily influenced by headlines and not technicals. Big picture ...

Submitted Oct 9, 2012|From forexblog.oanda.com|6 comments

Just when you thought it was safe to enter the water the EUR takes flight. This mornings move has “rocked a few boats,” mostly because very few individuals had been expecting the 75-cent EUR leak. In the post move, the market has seen Mideast ...

Submitted Oct 5, 2012|From forexblog.oanda.com

President Obama has got to have a smile on that poker face of his, especially after a ho-hum showing at the debate this week. Non-farm payrolls are coming up trumps and in favor of his administration, more so now than a couple of months ago. The US ...