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Pre-market notes

Posted by on Sep 9, 2011 in Economics | 0 comments

Pre-market notes

Despite speeches from both Obama and Bernanke, markets remained unconvinced and finished Thursday’s session lower. After reaching the head and shoulder topping pattern target, SPX seems like bear flagging for the last few weeks. A breakdown of the flag could bring us below 1100 for the first time in 2011 and back to September 2010 levels. During the summer sell-off, the dollar index remained unaffected in expectation for QE3. However, yesterday DXY broke out of the consolidation pattern...

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Some hints from the NYFed on what’s to come on Thursday.

Posted by on Sep 6, 2011 in Economics, General | 0 comments

Some hints from the NYFed on what’s to come on Thursday.

Markets are eagerly anticipating Obama’s speech on Thursday, that could outline the future plans of the administration on how to deal with the slowing economy and persistent high levels of unemployment. In recent speeches the president has indicated that his efforts will be directed towards infrastructure projects and some form of housing subsidy. There isn’t much to be said about new infrastructure projects which are expected to be pretty straight forward, on the real estate side,...

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NFP and the new market reality

Posted by on Jul 9, 2011 in Forex Analysis | 0 comments

NFP and the new market reality

I trade and watch the NFP release for many years but I’ve never seen a market reaction like yesterday’s. You can see on the chart how performed the four major currency pairs. Risk currencies (JPY and CHF) appreciated while EUR and GBP were wondering what’s goin’ on for more than a minute. The reason for this is that the NFP data surprised the market. It was expecting +110K but the actual number was just 18K. Why this could happen? The reason is simple. FED printed a lot...

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