Currency Articles
Currency Articles - April 1, 2013 23:07
China and Australia Set to Cut Dollar out of Trade
I’ve been saying for a long time that the Petrodollar system will not die all at once. It will do so by a thousand tiny cuts. In the past 18 months or so China has signed more than 30 bilateral trade or currency swap agreements with countries around the world. Last year the big one […]
Gold Holds Serve Against Cyprus Deal and Options Expiration
The bears will never learn, because they are bearish for what amounts to irrational reasons, no matter how rational they sound. Gold is not going to be blown out back to $1400 per ounce because of debt deflation. If today’s price action did not tell them that it never will and they will continue to […]
Except the Euro to Strengthen After Cyprus Dust Settles
The monstrous proposal of stealing from the depositors in Cyprian banks by the Troika will ultimately be bullish for the Euro. Cyprus is really a very small problem and, while, this is a bad precedent for the Troika to have set it will have both short and long term positive connotations for the Euro. One […]
Euro Crushed by Italian Exit Polls
The fear that the Italian Election would not work out in Goldman-Sachs’ favor had Euro-bulls running to the hills. As the news that Silvio Berlusconi’s center-right party will have received enough votes for a hung Parliament hit the newswires the Euro hit the floor and is currently trading down near $1.305. Since this is a […]
Gold Drops on Eurozone GDP Horror Show
For those that missed it, Gold re-coupled with the Euro in early January after the ECB’s policy meeting and Mario Draghi’s comments on about the direction of ECB monetary policy for the medium term — think tight. Since that day the daily directional moves in Gold and the Euro have been in sync, with Gold’s […]
Gold Survives Another Vicious Attack Post Draghi Comments
You almost have to feel bad for whatever hedge fund(s) is trying to piggy-back on the ESF and the Fed’s capping of the gold price at this point.  The take down of gold — this seems to be something I’m writing on a daily basis now — started at 9:15 this morning and took gold […]
Euro Holds Gains From Breakout, Oil Firms
The Euro completed an important week of trading last week with a close above the important $1.33 level, which, after the ECB policy meeting and successful Spanish and Italian bond auctions, confirms a significant breakout setting up a continued bull market through at least Q1 of 2013. You can check out more details here. The […]
Yen Runs Into a Roadblock, Euro Flat
After posting a, intra-day high at 88.40 last week the Japanese Yen has begun this week by correcting slightly. As I write this the Yen is flirting with the 87 level and looks primed to test the low near 86.8. Since the announcement of QE IV by the Fed and the election of uber-dove Abe, […]
Euro Ends Week Strong, Confirms New Uptrend
The Euro confirmed last week’s breakout with a closing price above the important $1.32 level which improves the probability that this latest move higher is a sustainable one that is capable of taking it back to $1.35 over the next few weeks. In my mind, looking over a number of crosses, the Euro breakout is […]
The Euro and Cattle Futures Follow Through – Signalling Inflation Incoming
Last week’s close in both the EURUSD pair, $1.319, and Cattle Futures, $133.64 per hundredweight, marked breakouts for both markets. The Euro broke through a quadruple top at $1.317 on the weekly chart pushing past $1.32 last week but couldn’t hold it. During this, the last week of the year, the EURUSD pair pushed again […]
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