We are set to have a very interesting week, end of October and beginning of November always brings in a lot of new news. Last night we saw the BOJ sell off yen like there was no tomorrow, this caused the markets to go crazy and massive spikes formed in many of the major currency pairs. The rest of the week will be no more tamer. We still have to keep an eye on the [...]

So for anyone keeping an eye on the 4H breakout, would’ve have noticed that this week is a definite no. Thanks to the Bank of Japan for intervening in the markets after the yen hitting new highs against the dollar last week. Over night the BOJ sold yen across the board causing a plummeting of the currency in the last few hours. We can see the GBP/JPY and USD/JPY have intense spikes of over 400 [...]

Here is a nice link to Thomson Reuters bank stress test, will you make it fail or succeed?  

Well today we had some partial details come out of the EU summit which didn’t explain much more than what we already knew. The news was decent enough to get a small push north close to the 1.40 level, but not enough to break it. Bank recapitalization: as had been expected the get around 100 to 110 billion euros. European Financial Stability Facility (EFSF) leverage: the fund should reach around 1 trillion, which has been [...]

Japanese shares declined on Wednesday, with the Nikkei Stock Average down 1.2% at 8,660.29 ahead of a European summit set for later in the global trading day. Investors are hoping for details on how the region plans to tackle its debt crisis but BNP Paribas strategists said “closure on the euro zone saga is far from being reached,” and noted that lack of clarity on Europe sent the U.S. dollar to a new low against [...]

With tomorrow unofficially being declared as “who gives a shit other than everyone on the planet” day in the Eurozone, one thing we can expect is a lot of money floating in and out of the market. Some of you know that I can be a fan when it comes to trading volatility: it’s the impatience, speed and forecasting the trainwreck of human emotions that always get me. The ultimate question tomorrow will be: Can [...]

Hello everyone,last post for the day, just wanted to update everyone on some finals things. First of all it has definitely been a slow day for the markets, with the bank holiday in the United States and in Canada. If we look at the euro we can see how small positive information from Europe sent the euro skyrocketing. Once the markets opened Sunday afternoon we just saw a constant uptrend for the eur/usd. It clearly [...]

Well it has been a very interesting week for the euro and the dollar, with so much news coming out of both regions of the world.Eur/USD fell to new lows, made an impressing recovery of almost 400 pips but eventually closed at the same place. The upcoming week consists of industrial production and inflation numbers standing out. I don’t see the situation for the euro getting any better this coming week, with so many known [...]

Hi everyone so with rumors coming out of Europe about a potential downgrade to France and other countries, and all the other pending issues with the ECB, the euro has just fallen off a cliff. The screen shot below should show you what I mean.                          

So here is a nice screen shot just showing the huge spike of over 200 pips a little after Bernanke and the Fed stated they would keep rates low until mid 2013 and hinting at a Quantitative Easing 3. Earlier today the FOMC stated they predict slow economic recovery and essentially a bumpy ride until the economy comes out of the slump, due to this the Federal Funds Rate will stay where it is at [...]