Forex Trade Setups (NY Close) Mar. 29th
Majors Recover London Losses. Tentative Ahead of Spain Budget, EZ CPI & U. of Michigan Confidence Tomorrow The USD started the day as the currency of choice gaining ground vs. all the majors with the EU Sentiment Index falling along with the EuroZone amping up the funding available for the rescue aid, telling markets globally the LTRO has been failing to stem the major issues. But perhaps...
Read MoreForex Trade Setups (London Close) Mar. 29th
Global Indices Lose Ground on Spanish Debt, EU Boost of Rescue Funds, and US Jobless Data All Disappoint US Jobless claims came in not as rosy as everyone expected with the drop in claims much slower putting a damper on investor sentiment. This put pressure on the risk play causing the USD to rise while the indices fell solidly across the board with the DOW down about 86pts or .66% and the...
Read MoreForex Trade Setups (NY Close) Mar. 28th
Oil Drives Global Markets Lower Prices of oil fell sharply today after the allied forces joined hands again, this time in a price war against the rising cost at the gasoline pumps threatening any recovery in the US and abroad as the US, UK and European govts discussed releasing strategic reserves. This hammered the commodity and weighed on global equities with the S&P barely holding onto...
Read MoreForex Trade Setups (London Close) Mar. 28th
Oil Sold Off Heavily on Reserve Comments, DOW & S&P Slide Oil dropped almost $2 on the day, stopping at $104.69 after the old Allied powers of France, UK and the US all ventured into talks about releasing strategic reserves to push fuel prices lower and avoid additional pressure on already strained markets at home. Meanwhile, the DOW is down 91pts or .69% on the day while the S&P is...
Read MoreForex Trade Signals (NY Close) Mar. 27th
EUR, AUD, NZD, JPY, Gold & Silver All Slide The USD took a breather from yesterday’s beating and fought back vs. the G8 block and precious metals, gaining some modest ground while the DOW dropped 43.90pts or .33%. The irony of it is Bernanke (the Dollar’s worst friend) continued with his accommodative policy comments today, saying the FED is ready to use all options to fight a...
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