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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 2338
Posted: Feb 22, 2010 5:00
Comments: 2338
Forum Topic:
USD
Discuss USD
ALTHOUGH I am given only 3 minutes in the following CNBC interview, watch this brief but expansive coverage on the US dollar, oil, gold and CRB, underlining the intermarket dynamics of today's market action
http://bit.ly/ 9NdtZi
Ashraf
W
Bill, that was good enough excuse. Thanks for showing up. When will you come aboard to CMC?
Ashraf
"As the folks at Standard Poor's Valuation and Risk Strategies division noted in a research note Monday, the difference between the spread on U.S. sovereign credit default swaps and an equivalent benchmark for AAA-rated euro-zone sovereigns flipped into positive territory March 12. As U.S. CDS spreads expanded to their widest levels in two years, that cross-region gap blew out to 5.7 basis points last Friday before narrowing to 4.7 Tuesday."
http://online.wsj.com/article_email/SB10001424052748703312504575142112712294450-lMyQjAxMTAwMDIwNDEyNDQyWj.html
USDX (USD INDEX) GOLDEN CROSS 100 daily MA > 200 daily MA TAKING PLACEhttp://stk.ly/9J7KpJ 2-months after EURUSD
USDX rally (USD INDEX) is MAINLY seen vs GBP & EUR, NOT vs commodity currencies. 57% of $USDX in EUR, 12% in GBP, 9% in & CAD 4% in franc.
Ashraf
i havent read u mentione 11000-200 for dow
do u think that the support will be found around 9750 and that give us a target of again 11500 before the coorection.
i base this on the fact that we have a specific pattern since the the fifth of march; an inverted flat.
thnaks
SO FAR U PROVED NOT TO BE WRONG:
i expect a pullback soon in equities before we reach the market sub top.
as ashraf said the sell off wont be before june.
after top at 11000-200 go for a major support at 9750.
i am very surprised how market don respond to dollar strengh vs euro.
Everybody, better know and learn who is a voter at this year's FOMC and who is NOT so you know the importance of these statements.
2010 Members of the FOMC
http://www.federalreserve.gov/monetarypolicy/fomc.htm
Yellen will speak in a few hours. Shes a dove but is NOT a voter this year.
Ashraf