US Durable Goods Shows Troubling Signs…

(US) MAR DURABLE GOODS ORDERS: -4.2% V -1.7%E (largest decline since Jan 2009); DURABLES EX TRANSPORTATION: -1.1% V +0.5%E- Durable Goods Orders, Ex-Defense: -4.6% v +1.7% prior (biggest decline since Jan 2009) WHAT DOES THIS MEAN? When considering the context of today’s FOMC Statement, you can clearly see that housing is depressed and Durable Goods […]

United Kingdom Back Into Recession!

(UK) UK GDP data was below expectations and put the UK into a technical recession (first since 2009). The GBP/USD earlier hit six-month highs at 1.6170 but slumped below the 1.61 handle as the QoQ GDP moved into negative territory. WHAT DOES THIS MEAN? It means that GBP is likely to be sold off in […]

Rate Cut Is Imminent For RBA…

(AU) Lower than expected inflation in Australia signs possible central bank action at the next meeting in May. Analysts are speculating that there could be a cut in June as well as May. y/y inflation of 1.6% was the lowest level since Q3 2009, the RBA trimmed means also came in at the lowest level […]

BOJ May Increase Asset Purchases

(JP) Reports circulated that the BOJ would likely hold off on buying longer maturity bonds at this week policy meeting but could increase the size of its asset purchase fund. BOJ policy would not be dictated by market expectations. What does this mean? It means that market is likely to sell off on the JPY […]

Australian Inflation Drops Unexpectedly

(AU) AUSTRALIA Q1 PRODUCER PRICE INDEX (PPI) Q/Q: -0.3% V +0.5%E (first decline since Q4 of 2009); Y/Y: 1.4% V 2.2%E (lowest since Q2 of 2010). How to interpret this figure? A worse than expected PPI would definitely affect CPI reading… Consider this, if the cost for raw materials drop for the manufacturers, especially in a […]

What Happened To EURO Today?

Greece got a 45 Billion Euro rescue package at 5% interest rate, which is below the 6.98% rate.  As reported in the Bloomberg Article, managing director of BlueGold Capital Management LLP in London said” “This is a huge amount,” “This is more than a bazooka. They have gone nuclear on the issue of Greece. In […]

Open letter concerning Sterling’s Reversal – (copied from my newsletter)

Hi everyone,  I just wanted to say that with today’s unexpected turn of events from the U.S. GDP release, market has turned around from last 3 days of risk aversion concerns to an all out risk appetite and boosted gains of every major currency against the USD… This created a strong reversal on the GBP as […]

Forex Traders, claim your FREE gift from Japanese Finance Minister…

It’s like mana from heaven… … and it could be yours, if you were trading in the unholy hours of Sunday evening (NY Time)… Here is the scoop: Japanese Finance Minister Fujii surprised the market late evening by hinting that Japanese government will not intervene the market, allowing free regin over the recent JPY strength.  […]

Where is US Dollar going?

Market has been very unforgiving to the USD lately as the greenback slips into further weakness; as a matter of fact, the more recovery we see, more reason for USD to weaken, at least until Bernanke starts rate hiking cycle… Let me explain, USD is considered as the primary safe-haven currency as the US Treasuries is […]

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