Some People Just Like a Good Moan
Some people just like a good moan every so often. Take, for example, your intrepid author; when the morning train service faces yet another severe disruption (courtesy of a fire in the London Bridge area ), does he resignedly shrug his shoulders and adopt the standard “musn’t grumble” attitude of the plucky Brit? No! He instead seizes the opportunity to make “clever” cutting remarks to his friends or, in their absence, random passers-by. Similarly, when the deputy governor of PBOC says “hey, we’re getting worried about inflation” but the Chinese Commerce Minister says “we’re gonna stick to our own pace” and “keep the yuan basically stable”, does Macro Man stay silent? Of course not! What’s the use of hand-crafting a…
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Last week, Hirohisa Fujii resigned as finance minister of Japan. Since Fujii was an outspoken commentator on the Japanese Yen, the move sent a jolt through forex markets. Those who were expecting that his replacement, Deputy Prime Minister Naoto Kan, would be be more consistent than his predecessor were quickly disappointed, as Mr. Kan managed...
The Canadian dollar showed strength and made gains on a week with many events that met expectations. The Canadian calendar is rather light in the upcoming week, so the outlook will be mostly technical, for USD/CAD. USD/CAD graph with support and resistance lines marked. Click to enlarge: The loonie enjoyed the unwinding Greek crisis to receive...
After a rather easy day, the calendar is busy again: British inflation numbers, German ZEW Economic Sentiment and American TIC Long-Term Purchases are the highlights. Let’s start: In Australia, we’ll get to see why the RBA didn’t raise the rates as expected. The Monetary Policy Meeting Minutes might also reveal future policy. Also...
The hoopla surrounding the semi-annual release of the Treasury’s currency report has been awkwardly resolved. As a result of Chinese Prime Minister Hu Jintao’s last minute decision to participate in a US conference on nuclear disarmament, the Treasury has agreed to delay the release of the report for an indeterminate period. While...
Retail Sales as well as building approvals are the highlights in a busy Australian week. Will the Aussie continue north? Here’s an outlook for the Australian events and an updated technical analysis for AUD/USD. AUD/USD daily chart with support and resistance lines on it. Click to enlarge: The Chinese move on the yuan is great for Australia,...
This rate decision was different in Britain – one member, Andrew Sentance, wants to address the rising inflation and to raise the rates. This is the first signal. GBP/USD reacts with a rise and aims to reach 1.50. Andrew Sentance doesn’t disregard inflation like his boss Mervyn King. King, the governor of the Bank of England, blamed fuel...
The infamous Crown Forex appears again, now offering everybody to open his own forex company, calling themselves experts in the area of forex business. Forex scammers refuse to die. Here are their latest activities. Those of you following the forex industry are probably familiar with Crown Forex. The saga is very long. In short, they were accused...
Guest post by ForexTraders.com Although the U.S. Dollar was more or less neutral versus the Euro on the week, the British Pound Sterling was up 1.6% as the market reacted favorably to the new Conservative/Lib Dem government’s Emergency Budget. The Greenback sold off even further last week against the Aussie, Kiwi and Yen in the wake of an important...
Another busy day is due with Chinese figures in the limelight. Let’s see what’s up for today. Will the dollar continue raging? EUR/GBP, which I’ve been following in the past week is definitely continuing the free fall , breaking more support lines on the way down. The main reason is the weakness of the Euro. Chinese GDP will supplies...
1) Tim Geithner should consider changing his name to “Stradivarius”, because the Chinese have played him like a fiddle. A week of Chinese no-shows at Treasury auctions, and Tim is left scrambling to placate Beijing. His decision to delay the release of the “currency manipulation” report in favour of bilateral discussions...
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