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 |
How to improve your decision--makingh between Nasdaq100 and SPX by watching technicals in bond yields - Details in video description.
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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weak EUR is ok in a stable global economy but bad in a receding economy then imports matter factured in USD. Further drawing money out of the economy of PIGS means a further drop in exports.
@catnip, I know that you profit from weak EURO and even Merkel was perhaps surprised how quickly her strategy worked out. But any abnormalities will have a side effect later when EU will forgot times when EURO was strong. BMW and MB will need to reopen US factories again in two years.
There are three categories of traders in the report as defined by the CFTC.
Non-Commercial (Large Speculators)
These large speculators are mainly hedge funds, banks etc who trade currency futures just for speculation.
Commercial (Hedgers, Exporters, Importers)
These are people who use the futures contracts for hedging purposes, and these commercial participants are generally exporters and importers who may use the commodity or currency futures markets to take a position that will reduce the risk of financial loss in their assets due to a change in price.
Non-Reportable (Small Traders)
They are small speculators like retail traders
Things to Note:
- In currency futures, the convention is to quote the foreign currency directly against the US dollar. For example, the Swiss franc is quoted versus the US dollar in futures, unlike the USD/CHF notation in the spot forex market.
- It is more important to note whether the large speculators are net long or short in specific commodities or currencies. Sometimes, moves can also be influenced by small traders closing their losing positions. Knowing whether large speculators have been net long or short a few days ago only indicates the positioning in retrospect. It is more useful to compare the latest net positioning with that from the past few weeks or months.
Give me News, No one is talking about ECB's and IMF's comments coming out later today.
ECB plans to hold conference next week to talk on measures on stabilising Europe's debt crisis and the monetary policy and bond sale purchase plan for banks.
Imf to comment on Greece's repayment program.
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(RTTNews) - The European Central Bank will use term deposit tenders to drain liquidity created by purchasing government bonds, the banks President Jean-Claude Trichet said.
We are not changing our monetary policy stance, Trichet said, according to excerpts of an interview with German daily Handelsblatt, published on the ECB Web site on Friday. We will withdraw the liquidity that we will inject mainly through tendering term deposits.
The Governing Council will not tolerate inflation, the central bank chief added. He declined to comment on the volume of government bonds the central bank intends to purchase.
When asked about what induced him to take the decision to buy government bonds, Trichet said sharply deteriorating situation in a number of financial markets demanded swift action from the central bank. Further, he said the central bank is committed to preserve its goal of maintaining price stability.
While saying that the case of Greece was clearly an exceptional situation, he urged other Eurozone nations to implement programmes commensurate to recover sound fiscal situation.
What we must achieve first, are sound and rigorously implemented adjustment programmes fully in line with the commitment of Governments to take all measures needed to meet their fiscal targets this year and the years ahead in line with excessive deficit procedures and to accelerate fiscal consolidation and ensure the sustainability of their public finances.
Trichet said the measures taken by the U.S. Federal Reserve and the Bank of England cannot be compared with those taken by the ECB. He insisted that the ECB moves through the Securities Market Programme is not quantitative easing.
The ECB chief ruled out possibility that the measures adopted by the bank will dampen growth in Europe. It is a complete fallacy to say that fiscal soundness dampens growth. It is exactly the contrary. It is the absence of fiscal credibility which dampens growth.
Further, the central bank chief stated that the ECB has delivered price stability in line with its definition of below, but close to 2% since the euro was introduced in 1999. Trichet added that this track record underlines ECBs credibility.
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