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This thread was started in response to the Hot-Chart:
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 |
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Given the SGD is managed float and also sensitive to Chinese RMB makes it interesting to watch. I closed AUD/SGD fd at 1.31 (around same bid price in 2007) last Friday upon maturity. Friday made interesting candle to watch.
Now Struggling to stay above 1.31 and break 1.32 ... Notice similar 2008 peaks also.
I do still hold the view fx currency bulls will get burned, as well as many Eur bulls got burned.
They were all betting on a weakening USD but USD consequently rose after QE2 came into effect. Because there is deflation, not inflation in the western economies.
i do not have short position at this moment, that was all gone @0095. after that, i usually play intraday short with sl about 30pips.
hubei is a province (as big as uk) in the middle of china, warm and wet weather, in summer about 35-40, in winter normally above 0. people are so "smart", love hot food, beautiful lady but normally with bad temper.
i got some friends in wuhan/jingzhou.
In terms of relative strength aussie profited only from the sudden weakness of USD but did
not become stronger.
Commodity bulls beware. Russia pumps oil to China as the pipeline is now operative.
But a what price? Pretty much lower than spot and it is fixed for 5 years.
Same holds for nat gas. Russia doesn't get more than HH spot, not the marvellous price it gets from western Europe.
This could and possibly will extend to other commodities such as coal and industry metals.
And as the saga goes the trades are closed in yuan, not in USD and of course not in Euros.
In plain words China and Russia figure in a meltdown of global economy, deflation, just the opposite of Wall St permabulls' tune.
qingyu what about hubei.
daveo is a good trader, but i am not doing in that way.