DailyFX Forum - Blog Entries

Pre London Outlook For January 22nd 2009

Posted 01-22-2009 at 01:47 PM by FxBootcamp.com (FX Bootcamp Blog - Video FOREX Trade Journal)

Hello traders. Yesterday we saw a strong round of short covering and have crashed into some longer term resistance on a number of currency pairs. Euro Yen has been our focus this week and I build another EY trade plan today. Lots of volatility and trapped between longer term resistance and shorter term support; this is shaping up to be a London session that demands a nimble approach. Please enjoy the video, and happy trading today. David Pegler

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Too Much Oil (And Other Fuels)

Posted 01-22-2009 at 01:46 PM by HardAssetsInvestor.com (Brad's Desktop)

Written by Brad Zigler
Thursday, 22 January 2009 12:18
Real-time Inflation Indicator (per annum): 8.0%

Did you ever have one of those nights? You know, when things start one way and end another? Oil traders are thinking that now.

NYMEX crude oil initially traded higher on short-covering in the overnight market, then slumped in the early morning hours ahead of the floor session opening and the release of the weekly petroleum inventory report. Selling was centered in the nearby March contract, indicating renewed concerns about inventory buildups.

Crude prices were buoyed Wednesday when Saudi Arabia stepped up as OPEC's swing producer, cutting back its production below previous commitment...

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Lost Decade(s)

Posted 01-22-2009 at 12:02 PM by greenfaucet.com (Greenfaucet.com - Global Market Commentaries)

By Roger Nusbaum, greenfaucet.com

This morning I read an article on another website that questions whether or not US is headed toward a lost decade like Japan. This is not a new question and usually the context is the economy. I believe it is also reasonable to apply this question to the stock market but if you do apply the question to the stock market then the discussion is over, we’ve already had a lost decade.

On January 22, 2009 the S&P 500 closed at 1225. As I write this post the S&P 500 is at 820 which makes for 33% decline over the last ten years. That probably is not as bad as Japan which peaked around 40,000 in 1990. Is it a lost decade becomes an unproductive discussion. It was lost, what did...

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The Ruble is Rubble

Posted 01-22-2009 at 11:33 AM by Ed Ponsi

The Ruble is Rubble

By Ed Ponsi, President, FXEducator.com

Russia's economy is in serious trouble. Russia is the world's largest energy exporter, and with the price of a barrel of oil sliding back below $40, there has been a sharp decline in capital flows to this Communist country. Russia needs oil at $70 in order to balance its budget, but with the world economy sliding into a recession, even conflict in the Middle East and threats of further OPEC production cuts haven't generated a sustained rally in crude. Without that oil money coming in, the Russian Ruble is falling hard against the USD. Russia has devalued the Ruble gradually since November, and the move appears to be accelerating (see figure 1).
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