Posts Tagged ‘Yen’
Currency Articles, LiveWire Economics Blog - September 16, 2013 14:00
Summers Out as Fed Chair Nets Bond Buying
The news that Larry Summers has withdrawn his name from contention for being Ben Bernanke’s replacement as the Chairman of the FOMC had an immediate effect on the markets, sending equity futures rising along with bond prices. The benchmark 10 year US Treasury Note yield dropped nearly 90 basis points and is trading at an […]
Gold Plays Possum While Yields Continue to Rise
After Friday’s Hilsen-Rumor put an exclamation point on the idea that bond yields would be turning around after a six week wild ride to the upside, lo and behold what a new week begets. Yields held steady early in the day and a late article by the Financial Times now has the tapering of QE […]
Latest Hilsen-Rumor Put Cherry on Equity Rally
After last night’s thrashing on the TOCOM which saw the Nikkei 225 drop 843.94 points to close at 12,445.38 (or minus 6.4%) the US equity markets were looking at another potentially ugly day. But the Yen abruptly stopped appreciating and began turning back toward Â¥95, which it achieved just before the publication of the latest […]
Upheaval in the Yen Pushes Gold over $1400
Last night while the Yen was breaking down I found myself laughing at the stubborn refusal for the futures market to allow gold to print a 14 handle for hours, even though the Yen carry trade was breaking down. Finally this morning the bulls could be held back no longer but only to pop as […]
Lucky Tuesday Has Gold on a YoYo
As Zerohedge likes to point out every week, Tuesday’s are the day of the week where the current equity rally makes its vig. Check out the chart of the Dow with and without the last 20 Tuesdays — all up, mind you — that they posted this afternoon and you can see exactly how this […]
Yen Retreats Below 100, Gold Rises
The relationship between the Yen and Gold prices could not be more clearly delineated than it was during today’s trading. The Yen began strengthening versus the dollar early after 9am and with that took the price up gold up quickly back to $1415 per ounce where it bounced around for the rest of the day. […]
Gold Breaks Through $1400 on Japan Volatility
The key to understanding how the Federal Reserve has been able to keep the price of gold under control for the past six months during all of this QE has been to look at the Japanese Yen. I might be smarter than the average bear but sometimes it takes a village to figure out why […]
Gold Gyrates Below $1400 Still
Today was a special day in that we saw nearly two full cycles of gold attempting to break through $1400. The first happened in Asia last night. The second happened during the COMEX hours in New York this morning. Both times the selling came in strong to push gold back down, first to $1375 and […]
Bonds Routed, Stocks Up, All is Normal?
As if there was ever any doubt that the central banks would not flood the world with unlimited amounts of paper as the Bank of Japan and the ECB both reaffirmed their loose monetary policies which sent equities around the world flying higher. It is too bad, of course, that organic growth only accounts for […]
Gold Re-tests Lows on Asian Margin Selling, Rebounds
Last night’s scare in the precious metals market could be summed up simply as programmed margin selling after Friday’s bushwhacking which occurred after the COMEX close. This was a replay of the events of April 12th and 15th, where the selling which happened after Asian markets were closed for the week had to carry over […]
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