EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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What is really sad is that EM's willingly give up their resources and ignore labour force & production domestically whereas AE's instruments of domination or monopoly such of WB & IMF make sure these EM's remain en-debted or politically unstable some how. If you see deeply much of these EM's are the ones that have the basic raw materials and real asset. And what ever money they make, and the is the only real money, from selling their resources or providing cheaper labour force; then they some how invest back in AE's. Their hard earn money goes back to AE's to run more bubbles, credit that inflates AE's, create more global debt as good and services now are expensive.
I keep say what the world needs is to rethink its policies on consumption, we need to reduce consumption, waste and conserve. Look towards as much as domestic as we can and then demand should only be catered from surplus's, no need to over produce, what we dont consume we waste, price integrity (market price) should be a global metric system over cost (labour+materials) Introduce fair trade across the world. We deserve to live happy. This is very possible all we need to do is wake up and make others around us more enlightened.
I had a very good run with this pair along with USDCAD USDCHF CHFJPY & CADJPY both long and fortunately short played to my benefit too. If you ask me opinon to long it, its a good buy even right now but same time the pair gives me 50/50 feeling again and I'm not liking that very much right now. Top short term can be 1.4580, 1.4635 where it will be met with strong resistance. Its like my gutt says buy it but heart says wait.
That said im not too impressed with Euro at the moment, I've often talked about this 1.2330/40 level being a STRONG S&R level. Once pair is below this Euro become sluggish almost as if its to falter. and in chance of clear break out above it quickly moves 50 60 points in a single stride. And today exampled the same thing again. Obviously i did expect subsequently dow will also be breaking 10300 and Gold may break 1242, next i wait for 1224 for up side confirmation.
Yes, I will advice long a stop at 30 points below today's low around 1.3933 entry on EURAUD longs, one never knows best to use caution. I missed my entery for the day as I was out and so far for the day 100 points move in the pair seems to have done it course. we need couple of days side ways movement to consider that it will stop here at the same time. Today we saw passive day of Black Box trading, CB Intervention, Options market with shrunk volumes, US equities turn around ( which soon could emerge as failure to stay above MA)a UK budget, IFO, and VIX climbed second day in a row. What else could have gone wrong or right did happen and markets still numb.
I guess well see no change on yuan until they start implementing a new policy, that will be soon, but today AUD and USDJPY could lose more after an unchanged fixing. I had a small pending order on gold at 1243 last night, did not imagine it could be hit after that rally, now I still hold 1261 short and this 1243 3rd lot close two this morning.
What i want to know is where that bank made that swap, now a situation like this would me if I was working Goldman's treasury but im not.....
Xaron my S1 is at 1.2240 S2 1.2213, if not breached then turn around tuesday game play comes back in play. I hate algo trading this is another one of those days we witness nothing but the black box trading. Yuan welcome to endless world of black box decimation.
Central banks seen as noted buyer both from Asia and now Europe now.
I love it when a plan comes together, I expect the usually IFO volatility may hold out till the budget report.
Put yen on hold for a day as it may just be a dollar day, this will mean Chf will remain reactive
What if does what the imperialist nations have done for year, till the very present. Which is............ Foreign slavery (sarcastically speaking) they can always get more out, more viable distribution channels, finding foreign markets for domestic good, and etc etc. And for this purpose China long been eyeing Africa which heavily impoverished and wide dependant on investments. It will be cheaper to get raw metrial, cheaper labour,
On the other hand coming back to Euro game play I presume the down ward move in Euro will be subjective to fundamentals and will be played very on a completive scale. Monday's and Friday's again should be volatile while expect the in between the week consolidate mostly, if there is no significant data. Again rely more on Fundamentals rather than technicals. Meanwhile like i said Euro move down will be very competitive hence i expect EURGBP to become range bound between 82 -84. We might see a break out in that as tomorrow is the all important German IFO's and more importantly Annual Budget Report UK. Some time back I said in here that till 1.4915 is reached I will not sell before Budget, will it comes tomorrow and have managed to sell it from 1.4926, based on tomorrows rhetoric I will decide either to go bearish or not. For now it makes a good sell till 1.4720 or even lower to 1.4650.
In case euro does not sell at same pace as GBP at the time of the report then we might have 8400 break out in EURGBP. As long as Aussies holds it gains above 8635 for a week my bearish bias on Aussie will turn from bearish to strong bullish. This weeks pivots will hold out as strong and significant Support and Resistance levels. Picture changes completely if we close above the weekly pivot for most instruments on the markets. Treasuries Keep selling, they sold aggressively after the China PBOC news.
Last week markets were a little still indecisive 50/50 and played in a very strict controlled figures and price action. This week will be very interesting in determining the out come of the general market trends as we now also come close to end of second quarter, which i guess will be reflected by poor earnings for this years not sure if it will continue in Q3 or Q4 but certainly will be the case for Q2. That said what will be interesting to see during Q3 is if volumes pick up. If that happens the general optimism will back the markets in another short lived bull market who knows. None the less 2010 may well be known in years to come as the year when the free markets almost came to an end.
Its a bit of touch n go here US equities are key here. The market is although and traders are on 50/50 at the moment....Sell oil Yen weakness, although gasoline prices are still drop in asia also seen and today my next post also shows weak demand in US which just suggests weak growth...... damn now i cant find the article now! But that wat i heard.
WASHINGTON (MNI) The following is the text of the summary of the
monthly statistical report for FMay by the American Petroleum
Institute Friday, on domestic petroleum deliveries, crude oil
production as well as gasoline deliveries:
U.S. gasoline deliveries for May dipped 0.4 percent from last year
to average 9.05 million barrels per day, the lowest May level since
2003, according to the American Petroleum Institutes Monthly
Statistical Report.
This downward movement compared with year-on-year increases for
both March 2010 and April 2010 indicates that gasoline demand is more
sensitive to higher prices and to the effects of the sluggish economic
recovery than distillate and jet fuels, which both saw increased demand
in May, compared with previous months, said API Chief Economist John
Felmy.
Average regular-grade gasoline prices were 57 cents per gallon
higher in May 2010, compared with the same month a year earlier,
according to the U.S. Energy Information Administration.
May distillate deliveries surged 7.8 percent from May 2009,
supported by a jump in ultra low sulfur distillate. This was the second
consecutive month that distillate deliveries showed upward movement on a
year-to-year basis, following 29 months of declines since 2007. Even
though May deliveries were up from last year, they averaged just 3.7
million barrels per day, which marked the second lowest May since 2003.
Jet fuel deliveries averaged 1.4 million barrels per day for May,
an 8 percent bump from a year ago and 2.6 percent higher than April,
thanks in part to airline travel demand during the Memorial Day holiday.
January-through-May jet fuel deliveries were up 1.6 percent in 2010
relative to 2009.
Meanwhile, the average U.S. refinery utilization rate for April
climbed above 86 percent for the first time this year, moving to the
highest level since July 2009. Total motor gasoline production in May
was at 9.1 million barrels per day the highest level for any May, and
a continuation of gasoline production trends seen for all five months of
this year. With the exception of May 2008 when distillate production
stood at 4.5 million barrels per day, May 2010 distillate production of
4.2 million barrels per day was the highest for any May.
** Market News International Washington Bureau: 202-371-2121 **
I think end of summer will see some good data from Europe over all. Housing market & prices is told to be continue to rise, maybe for the rest of the year i.e only if the number for unsold homes see a decline in Europe this will also boost and give confidence to the job market. Just got back from trip to US and man things there are really really bad. I met some friends in NY and NY itself is still busy as ever and it seems same good num of people are still employed. But that is not reflected in the rest of the country, a group sitting in a restaurant probably some investment banker or something where busy talking how American could soon in years to come or at time sounded even could come out with food stamps for people struggling to feed the families. And recently there are fears people having to chose to feed their families or to own their own homes.
Man we are far better off than the US economic condition, i'd say let the Euro crash at least we wont go homeless and hungry and no to treat us incase we go sick. In 4 days i got so much negativity form their media that its unbelievable no wonder these people are fighting wars that wasn't theirs to fight in the first place. The epiphany i had the other day laying bed watching the news (all though i stopped watching TV since Iraq war) America since after the revolution has fought majority of its wars on foreign soil, and only time some does come to US and attacks on land they go and nuke the shit out of them. Which proves their the biggest terrorist in the first place. What did Iraq ever did to America. Oh my God this is such bull shit, tell you what watch this movie Unthinkable and tell me what you thinkhttp://xtshare.com/toshare.php?Id=33556
Boy i really got side tracked there :) its good to be back now I will stop hating London now and learn to Love it more :D I think soon I will move to a distant place on earth and become a farmers there and live long, wine makers are welcomed to come along :D
Crude oil pulled back a little over 1% on Thursday, but prices are still holding above $75.50 support. Oil has been benefitting from stability in the financial markets. News out of Europe has so far failed to worsen, and thus traders are reevaluating whether risk assets, including oil, are oversold. Prices have rebounded about 50% of the losses incurred during the entire correction. So where does oil go from here? Inventories across the globe are still at very high levels. OPEC production is steady and its spare capacity is in excess of 5 million barrels per day. On the bullish side of the ledger, the deepwater drilling moratorium will have an adverse effect on production that comes out of the region over the next year and possibly beyond. The most likely outcome is an oil market in which prices continue to gyrate with broader financial markets, but with the potential for limited gains from current levels, as risks to the upside and downside are balanced. The next significant technical resistance level is $80.00 On the downside, $75.50 is the level to watch.
The TED spread has recently pulled back off its highs in its largest fall since March, as pointed out by Bespoke Invest. The Ted spread indicates risk assumptions in markets, the higher it is the more perceived risk in markets.
But as the chart shows that fall might be short lived, and could lead to another dramatic increase in the market stress indicator, just like it did in March, April, and May.http://www.bespokeinvest.com/thinkbig/2010/6/17/ted-spread-sees-largest-decline-since-march.html