Uncategorized

Key News
- The yuan rose the most since a July 2005 revaluation and forwards jumped after China’s central bank ended a two-year peg before a Group of 20 summit this week. (Bloomberg)

Chart: http://www.blackswantrading.com/file...sccc062110.pdf

Quotable
“So the important thing in a military operation is victory, not persistence.”
- Sun Tzu

FX Trading – The China currency script?
China pulled the trigger on the quid pro quo of not being labeled a “currency manipulator” by the US government, by announcing a move to a crawling- instead of the effective fixed-peg exchange rate system they have been employing. The key word in the last sentence may be “crawling.” ...

Key News
China told the rest of the world on Friday not to meddle with the way it manages the yuan, calling the exchange rate a sovereign matter for it alone to decide and all but ruling it out of bounds at next week's G20 summit. (Reuters)

Quotable

“But President Obama’s successful move to force BP to establish a $20 billion compensation fund that the company will have no voice in allocating — just a down payment, the president insisted — may have been the most vivid example of what he recently called his determination to step in and do ‘what individuals couldn’t do and corporations wouldn’t do.’

“With that display of raw arm-twisting, Mr. Obama reinvigorated a debate about the renewed ...

Key News
- Swiss Franc Strengthens; Central Bank Says Deflationary Risks Disappeared The Swiss central bank softened its stance on fighting franc gains and said it can’t keep interest rates at a record low in the medium term without fuelling inflation. (Bloomberg)
- Dollar Poised to Appreciate Versus Yen, Commerzbank Technical Analysts Say The dollar may reach 93.50 against Japan’s currency should it hold above a so-called support area between 90.97 and 90.85 yen, Commerzbank AG said, citing technical indicators. (Bloomberg)
- S. Africa Rand to Weaken 6.4% by Month-End, Absa Says: Technical Analysis (Bloomberg)

Quotable
“By nature all men are equal in liberty, but not in other endowments.”
...

Key News
- MANNHEIM, Germany, June 15 (Reuters) - German analyst and investor sentiment fell in June by the most since the height of the financial crisis in 2008, hit by concerns over the euro zone's debt troubles and sending the euro lower against the dollar. (Reuters)
- SEOUL, June 15 (Reuters) - South Korean exports to the United States in May reported the biggest annual gain in over six years, revised trade data showed on Tuesday, indicating global trade is recovering. (Reuters)
- Spain, Portugal Need More Budget Cuts, Debt Levels May `Snowball,' EU Says (Bloomberg)
- Europe’s Banks Face Second Funding Squeeze on Sovereign Crisis (Bloomberg)

Quotable
2010 World Cup edition...
...