Currency Articles
Currency Articles, Gold and Oil News - February 8, 2013 3:01
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 […]
Euro Bullish Breakout
In yesterday’s blog I noted that the Euro / US Dollar cross was approaching breakout territory. The Euro last Friday put in the highest weekly close versus the Dollar since late May and was threatening last week’s high at $1.317. Yesterday took the price of the Euro over that level and today it has followed […]
Nokia Pops on China Mobile Deal
Yes, this was announced a couple of days ago but it’s important to note that Nokia’s stock has continued to rally on this news. But, it’s more structural than that. Sales of the Lumia 920 are so strong that Nokia is finding itself in a modest version of the Apple problem — demand far outstripping […]
Euro Pushes Back Towards $1.30 on Hope
At this point I have to agree with with zerohedge about the Euro, so little of the news coming out the euro-zone leadership anymore makes any sense whatsoever that movements in the big global markets on any one day can be tied to anything in particular. Two weeks ago the Euro was looking at a […]
Yuan Hits All-Time High Versus Dollar
Since the announcement of QEternity by the Federal Reserve in September the Chinese Yuan has been on a tear versus the U.S. Dollar. However, the Fed has steadfastly refused to actually open up the money printing spigots as it announced it would and has actually been tightening the base money supply and holding credit growth […]
China, Japan Do the QE Thing While U.S. Markets Sleep
On Monday the Bank of Japan announced another addition to their near-limitless QE program, Â¥11 trillion to be precise. The market was hoping for Â¥15 trillion and as such the Yen promptly rose by 40 basis points. This is what passes for markets these days.  The front-running of what traders expect central banks to do […]
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