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Parity The Parity ContinuesTitle:
The Futility of Tax Cuts Without Spending Cuts
Well… The dollar rally that was going on yesterday morning didn’t have the legs to carry on, and by mid-afternoon we were watching the currencies rebound… I truly feel that this time the currencies were led to higher ground by gold and silver!
The rallies in gold and silver yesterday were the things that legends are made of… Silver hit a 20-year high, and gold raced past its previous high water mark of $1,414.07 set on Friday… And the shiny metal is back at it again this morning, setting yet another record level of $1,426.30…
So… What got the risk assets all lathered up around mid-day yesterday, I hear you asking… Well… Can you say tax cut extensions? I knew you could! The agreement to extend the Bush tax cuts two additional years was reached yesterday… I guess during a recession with 25% ...
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Technical analysis of the AUD/USD parity on December 7th, 2010
Commentary of the AUD/USD parity:
The pair continues to test the resistance at 0.99. All indicators are bullish. We maintain to trade only long positions as far as 0.98 is support. If the breakout of 0.99 is validated, a new buy signal will be given. The next resistance is at 1.0.
See the previous analysis of the AUD/USD parity of December 6th, 2010
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The Weekly Bottom Line: 04/12/2010
The Weekly Bottom Line
HIGHLIGHTS OF THE WEEK
United States
* U.S. non-farm payrolls disappointed this week with a gain of only 39K in November, following October's gain of 172K.
* Nonetheless, signs continue to build that U.S. economic growth and therefore job growth should continue to improve in 2011. One disappointing month does not alter this view.
* While progress will continue, the pace will be moderate and the unemployment, which in November rose to 9.8%, will remain elevated and inflation will remain subdued.
Canada
* This week saw the release of three lukewarm Canadian data reports that all served to temper expectations that the economic recovery would be smooth sailing going forward.
* On the heels of a large deterioration in net trade, Canada's current ...
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Euro Falls Through 200-Day Moving Average
Well… November hasn’t been kind to the currencies and precious metals, that’s for sure… But then, it was about time for the markets and media to shift their focus in November, wasn’t it? Yes, it was… The thing I kept worrying about, happened, and here we are today with the euro (EUR) barely hanging by a thread to the 1.30 handle once again… Shoot Rudy, haven’t we seen this before, like last winter? Then it was the knee-jerk reaction to the GIIPS (Greece, Italy, Ireland, Portugal, Spain) that caused a huge sell-off of the euro from 1.45 to 1.18… But then the markets and media grew tired of this story, and their attention span ended for the GIIPS, and was shifted back to the problems of the US.
In June, the focus shifted back to the US and we saw a huge rally in the currencies and precious ...
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Technical analysis of the AUD/USD parity on November 30th, 2010
Commentary of the AUD/USD parity:
The pair continues to move between 0.96 and 0.97. All indicators are bearish. The current bearish movement is leading by a bearish slant. We maintain to trade only short positions as far as 0.97 is resistance. The breakout of 0.96 will give a new sell signal. The next support is at 0.95.
See the previous analysis of the AUD/USD parity of November 29th, 2010
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Technical analysis of the AUD/USD parity on November 25th, 2010
Commentary of the AUD/USD parity:
The pair AUD/USD continues to move on its key level at 0.98. Hard to forecast the next movement. Indicators are neow mixed. We maintain to trade the pair according to 0.98:
- Long above this level. The breakout of 0.99 will give a new buy signal
- Short below this level. The breakout of 0.97 will give a new sell signal.
See the previous analysis of the AUD/USD parity of November 24th, 2010
Title:
The Weekly Bottom Line: 20/11/2010
The Weekly Bottom Line
HIGHLIGHTS OF THE WEEK
United States
* Fed's decision to engage in further quantitative easing was again criticized this week in an open letter drafted by economists.
* This week's Consumer Price Index (CPI) report revealed that the annual rate of core inflation dipped to 0.6%, the lowest reading on record.
* Subdued core inflation supports the Fed's plan for engaging in further quantitative easing as it helps guard against deflation by lifting inflation expectations.
* In turn, higher inflation expectations could boost current economic activity via lower real interest rates.
Canada
* Recent domestic and global developments, combined with the added clarity of magnitude and timing of a second round of quantitative easing (QE2), have led us to ...
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Technical analysis of the AUD/USD parity on November 19th, 2010
Commentary of the AUD/USD parity:
The pair continues to move above 0.98 but didn't succeed to break the resistance at 0.99. Indicators are now globaly bullish. We maintain to trade the pair according to the key level at 0.98:
- Long above 0.98. The breakout of 0.99 will give a new buy signal
- Short below 0.98. The breakout of 0.97 will give a new sell signal
See the previous analysis of the AUD/USD parity of November 18th, 2010
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Ireland Close to Accepting Aid; EUR Rising Hesitantly
The EUR appears to be gaining traction against most of its currency rivals as concerns over Ireland's debt begins to ease. However, the euro zone does not appear to be out of the woods just yet. Analysts have stated that Ireland's debt still looms large over the region and continues to have the potential to spill over into other peripheral countries struggling with debt.
Economic News
USD - USD Gives Up Gains Made in Last Two Days
The US dollar traded largely flat yesterday amid a change in dynamics from Europe. As Ireland inches closer to accepting an aid package, the EUR appears to be on the rise against most of its counterparts. However, the USD was one of the more stable currencies in the market despite this news.
Against the EUR, the greenback did indeed give up some ground to ...
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