Idea Of Traders Wanting

Fundamental News: Today's highlight; · Fed Chairman Bernanke Testifies. (US, 15:00, GMT) The EUR/USD is trading down at 1.3055 from early 1.3085, having been as low as 1.3028. European trading was a worrisome as investors could not decide what was happening. News from Greece was not promising. Greece failed to agree on new austerity measures across political parties yesterday, a requirement for the proposed bailout to avoid default in March. There was some progress on bank recapitalization. Overcoming the political realities of further austerity after almost 5 years of recession is proving very difficult. There cannot be a new program for Greece unless the conditions of the troika are met,” Merkel said at a joint press conference here with Sarkozy, referring to the European ...

Well… How do you feel about the roller coaster ride we went on yesterday? I know, it knocked the wind out of me, and the risk assets… And yes, I did keep my arms and legs inside for the ride, but the whipping around was just too much for me! And the risk assets… So, I’ll stop beating around the bush, and get to the meat… Front and center this morning… North Korea fired artillery at South Korea’s Yeonpyeong island in the Yellow Sea off the countries’ west coast, setting houses on fire. According to residents, the South returned fire. A spokesman for South Korea’s Joint Chiefs-of-Staff confirmed the exchange but didn’t have details except to say “scores of rounds” were fired by the North. OK… Just what the world needs, right? Another war! I know, I’m getting ahead of myself here, as right ...

Friday is finally here… The end of what has been an exhausting week here on the trade desk. The dollar continued to get beat down through most of the trading day but started to rally back a bit in the afternoon. Overnight the dollar actually gained with the highflying Nordic currencies falling almost 1% versus the greenback. The euro (EUR) and commodity-based currencies also sold off a bit, and the sharp rally in both gold and silver stalled. A break in all of the price action was to be expected, but it may not last long as we will get the October US jobs report later this morning. The report due out at 7:30 CST is expected to show the unemployment rate stayed dangerously close to 10% during last month. If the jobless rate comes in at 9.6% as expected, it would be a record 15 straight ...