Posts by "stationdealer"

The Third Depressionhttp://www.nytimes.com/2010/06/28/opinion/28krugman.html?hp

Recessions are common; depressions are rare. As far as I can tell, there were only two eras in economic history that were widely described as depressions at the time: the years of deflation and instability that followed the Panic of 1873 and the years of mass unemployment that followed the financial crisis of 1929-31.

US Dollar as Reserve Currency in Jeopardy Again.
(Reuters) - A new United Nations report released on Tuesday calls for abandoning the U.S. dollar as the main global reserve currency, saying it has been unable to safeguard value. http://www.reuters.com/article/idUSTRE65S40620100629
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Yuan Can Become Alternative Reserve Currency to US dollar-ADB http://www.reuters.com/article/idUSTOE65N06P20100624
* Internationalisation of yuan may be rapid process-ADB
* Yuan to push world toward multi-currency reserve system
* Capital controls can help economic management
HONG KONG, June 24 (Reuters) - China's yuan could rapidly become an internationally used currency and serve as an alternative to the U.S. dollar in central bank reserves, the Asian Development Bank said in a report on Thursday.
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"The US will 'Politely Default' on its Debt"
By Robert Huebscher of Advisor Perspectives http://www.zerohedge.com/article/big-call-jeff-gundlach-us-will-politely-default-its-debt
Todays economic problems, it seems, can be understood through the lens of pop artist Andy Warhol. Warhol, who DoubleLines Jeff Gundlach calls an absolute futuristic genius in his ability to depict trends in American consumerism, showed through his illustrations of everyday objects, such as Coca Cola cans, that products used by the upper crust of society were accessible to anyone in America. That accessibility made it natural for consumers to borrow money

Due to adjustments patriot Aus has already closed for the day, pending adjustments over in the European and US session. Today they will benefit from swap interest levels that will accumulate more GBP but will have clear demand building from this sell off. Its all in the balance of value.

The pair that posses the biggest threat is USDJPY. Below 8820 the risk is high for a move below and that in time can be a big significant move possibly test of last years lows below 86 level. 8840 can hold as a triple bottom for USDJPY and again for now that remains to be seen.


Cable breaks 150 and if does not sustains 14965 level then it will be considered as a false break out which is mainly due to the cause of automated traded funds that pull or push market for short term profit taking.

Lets just say pounds got the benefit of the doubt, Cable looks slightly weaker but as I said just now 15005 resistance to hold for now.Same time if you look at GBP crosses they support as they have gathered enough strenght and hold momentum on the day to creep higher if we see a intraday turn around, which i expect to happen soon. Also today options expiry was noted around 150 level. But that still remain to be seen if Cable is to close below 150 or end the month on a high note. 1.5113 & 1.5139 holds as top resistance so far while 1.4965 & 1.4940 seen as further support levels below.

But short term there some down side, lets see if it break 150 barrier.