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  1. Currency Currents - May 21, 2010

    by , 05-21-2010 at 10:20 AM (Black Swan Capital - Currency Market Advisors)
    Key News

    Britain posted its largest April budget deficit since monthly records began in 1993. (Bloomberg)

    Quotable

    “Do not worry if you have built your castles in the air. They are where they should be. Now put the foundations under them.”

    - Henry David Thoreau

    FX Trading – A lot to worry about

    The stock market of late seems to be noticing them. But commentators seem to be looking right past them—systemic risks. Why do I say that? Well, it seems every time I flip on the TV to a financial show, one mutual fund manager after another is trotted out to tell me this is a great buying opportunity. They do it with such confidence. They are dressed so well. They are ...
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  2. News in 60 Seconds: NZD breaks out of multi-month consolidation!

    by , 04-26-2010 at 10:02 AM (News in 60 Seconds)
    Biggest % gainers: NZD/JPY up 1.34%, NZD/USD up 1.12%, GBP/JPY, GBP/CHF on NZD and GBP strength and JPY weakness.

    Biggest % losers: EURNZD, EUR/GBP, AUD/NZD on EUR weakness and NZD & GBP strength.

    Oil $85.12
    Gold $1,152 gradually heading higher again! Head & Shoulders suggests that it will eventually take out the old highs and hit new "all time" highs.

    New Zealand dollar breaks out of a multi-month consolidation vs. both the USD and the JPY causing NZD/USD and NZD/JPY to have huge directional upward thrusts today. Also, with gold, silver, copper, etc. heading higher...this commodity rally is helping to support the NZD too.

    Mexican peso rises to the strongest ...
  3. News in 60 Seconds: Darling's 50% tax on bank bonuses hits stocks & the pound!

    by , 12-09-2009 at 09:37 AM (News in 60 Seconds)
    more momentum on the gainers than losers...

    Biggest % gainers: NZD/USD up 0.80%, AUD/USD, AUD/CHF...on mild commodity dollar strength

    Biggest % losers: USD/JPY down 0.45%, GBP/JPY, CHF/JPY, EUR/JPY on mild JPY strength

    Gold $ 1,137
    Oil: $ 73.19

    Remember, this afternoon we get New Zealand's interest rate decision at 3pm EST today. They are expected to hold at 2.50%. With the fallout that their Labour Party had with the central bank lately...I'd be shocked if the hiked rates today.

    Tonight at 7:30pm EST we get Australia's employment numbers. I'd expect them to come out fairly favorable in light of RBA Steven's speech the other day. There have been more job advertisement ...
  4. News in 60 Seconds: NZD falls after Labour Party no longer backs central bank policy

    by , 11-19-2009 at 10:13 AM (News in 60 Seconds)
    Biggest % gainers: USD/CAD up 1.14%, AUD/NZD, USD/CHF, EUR/CAD, EUR/CHF ...so USD strength and some CHF weakness.

    Biggest % losers: NZD/USD down 2.23%, AUD/JPY, CHF/JPY, GBP/JPY ...huge NZD weakness, strong JPY strength

    Why the huge NZD weakness? The Labour Party in New Zealand no longer supports the primary objective of their central bank, which is to fight inflation. They want "price stability" as well now.

    So this political clash with the central bank is the reason the NZD is tanking: http://www.bloomberg.com/apps/news?p...d=aBsTY4j7BbNo


    Reason for CHF weakness: http://www.bloomberg.com/apps/news?p...d=aa42ALFyep8c
    ...
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