Posts by "dodger"

Careful,lots of japanese institutions looking for lower levels to buy as they change fiscal year positioning.

Actually an NFP on thin holiday volume sounds pretty dangerous to me,case shiller and consumer confidence if bad today could be the catalyst for a bit of bearishness in US equities,however personally would not like to be short us/jpy or any of the crosses at the moment,got burned last week and wished I had listened to Ashraf!

Euro has been reacting everytime one of the many european and national politicians opens their mouth and mentions "greece"for several weeks now.Greece is actually in the international scheme of things pretty small,the euro is a risk/growth currency and with the indians raising rates to fight food inflation,the chinese hopefully soon to do something similar to combat wild property speculation in certain provinces,let alone double figure rises in wages "21%rise in minimum wage in guangdong province" growth and risk is in for a pullback. So goes the euro,pre-election pound,and probably the aussie,europe itself is in a mess and there is a whole list of asian countries ex japan who are ready to start tightening less they repeat the lessons learned painfully from the west.There could be a little short covering on the way down but theres only one dierection.

The yen is caught in the middle between attempts at monetary expansion by a weak government and a slowing global recovery that still favours the yen when the risk is off.Think more than anybody they are now desperate for some sort of reminbi revaluation,china now being the biggest export market for japanese goods.

Oil inventaries at 10.00 new york gave euro further bounce and jpy weakness has pushed euro jpy all day,grit your teeth they are both starting to look overbought!