Analysis of Forex Trading, Financial Markets, and Economic Policies
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The Canadian Dollar went off-the-charts today as the Bank of Canada (”BoC”) speculated that rates may start going up in July 2010 (WSJ Article). To see the press release from the BoC, click here.
I was short the USD/CAD & AUD/CAD crosses and long the CAD/JPY cross at the time of the release. Overall, it added [...]
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The Australian dollar was the big winner today while everyone was sipping the Aussie Haterade on StockTwits and Twitter. I feel like more than 30-40% of the Stockt-Twits today was about shorting the Australian dollar. Some interesting quotes even went along the lines of “AUD/USD, die, die ,die”.
If there was any other contrarian sign that [...]
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I photoshopped this back in December 2009, I can finally bring it out now.
The Euro bears were out for the kill today. There were so many bears out there that it felt like a wild forest. I’m a US dollar bull and thus also a Euro bear.
However, I was a little skeptical about [...]
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It seems like the U.S. Dollar (specifically the US Dollar index) will be tanking in the near-term, at least according to Goldman Sachs, Jim Rogers, SocGen, and many others.
Here is a pie chart showing the currency composition of the US dollar index:
As we can see, if the expectation is for Euro appreciation, it most likely [...]
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The ides of March was a good trading day. Three trades were closed for a total of 115 pips and there were no losing trades.
The first trade closed was a short AUD/USD from .9161 opened at the end of the day last Friday (March 12, 2010). The position was closed at .9127 for 34 pips. [...]
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