Traders,
Another week begins which gives hope for new opportunities in the forex. The FOMC does meet on Tuesday, but the expectation remains that they will keep rates the SAME?? If they do surprise, then expect a major sentiment shift across the board concerning the dollar. We see the gbp/usd trying to make its way up to the 1.5250 area. It couldn't do it on Friday so maybe this week? Good luck traders and let's make some pips!!
To the Summit,
4xSummit
Sunday, March 14, 2010
Sunday, March 7, 2010
Jobs, Jobs, and less Jobs!
Traders,
The jobs numbers are getting better....at least they appear to be. If you consider better meaning that less are losing their jobs each month! The stimulus funds have not been able to create the jobs the government was hoping for....so now what? Greece is still in limbo, health care is back on the docket and the US keeps spending more and more money. The dollar is losing considerable ground after Friday's NFP report. A correction back north was inevitable, it was just a matter of time. We hope the market chop from last week will diminish and allow some great opportunities for the week ahead.
To the Summit,
4xSummit
The jobs numbers are getting better....at least they appear to be. If you consider better meaning that less are losing their jobs each month! The stimulus funds have not been able to create the jobs the government was hoping for....so now what? Greece is still in limbo, health care is back on the docket and the US keeps spending more and more money. The dollar is losing considerable ground after Friday's NFP report. A correction back north was inevitable, it was just a matter of time. We hope the market chop from last week will diminish and allow some great opportunities for the week ahead.
To the Summit,
4xSummit
Monday, February 15, 2010
Greece Debt Worries Causing Jitters
Traders,
The concern surrounding Greece's debt fears are spreading to all lengths of the financial system. Rumors of the euro failing along with numerous lending institutions that have their name attached to the debt are causing widespread volatility in the equity markets and the FX markets. Does all this sound familiar? Remember when the gloom and doom regarding the U.S. dollar and the U.S. financial powerhouses were all going bankrupt and we would be switching to the euro for safety? We just have to realize that these are the times we live in...rumors, constant volatility, unrest, new regulation and last but not least craziness! Let's have a great week and make some pips!!
To the Summit
4xSummit
The concern surrounding Greece's debt fears are spreading to all lengths of the financial system. Rumors of the euro failing along with numerous lending institutions that have their name attached to the debt are causing widespread volatility in the equity markets and the FX markets. Does all this sound familiar? Remember when the gloom and doom regarding the U.S. dollar and the U.S. financial powerhouses were all going bankrupt and we would be switching to the euro for safety? We just have to realize that these are the times we live in...rumors, constant volatility, unrest, new regulation and last but not least craziness! Let's have a great week and make some pips!!
To the Summit
4xSummit
Tuesday, February 2, 2010
The RBA did WHAT??
The Reserve Bank of Australia whom was forecasted to increase the Australian interest rate environment by .25 basis points left it unchanged. This surprised almost every economist on the face of this earth. Australia has experienced incredible growth, but having said that, may have had some second thoughts when it comes to tightening the economy. The aud/usd plummeted by over 100 pips in less than 10 minutes.
There are numerous FA's this week, but by far the most popular is Friday's Non-Farm Payrolls report. What will the numbers mean and how will it affect the FX market? Great question...guess we will wait till Friday and see what happens!! No use in getting ahead of ourselves.
To the Summit,
4xSummit
There are numerous FA's this week, but by far the most popular is Friday's Non-Farm Payrolls report. What will the numbers mean and how will it affect the FX market? Great question...guess we will wait till Friday and see what happens!! No use in getting ahead of ourselves.
To the Summit,
4xSummit
Sunday, January 24, 2010
Beginning of the End
Traders,
This week is the last trading week for the month for January. We anticipate the big banks and hedge funds to take profit after last week's extreme volatility session. The Dow Jones fell over 500 points in 4 days, gold followed suit bottoming around the 1082/oz area and the eur/usd finished down close to the psychological area of 1.4000. We look for continued dollar strength as the dollar index is showing signs that the greenback is indeed BACK! There is also talk of the US Fed raising interest rates as the US emerges from the recession faster than other countries like Japan. We want to allow the market to "cool its heels" and then look for areas to take a position. Good luck this week and we wish profitable trading to all!
To the Summit,
4xSummit
This week is the last trading week for the month for January. We anticipate the big banks and hedge funds to take profit after last week's extreme volatility session. The Dow Jones fell over 500 points in 4 days, gold followed suit bottoming around the 1082/oz area and the eur/usd finished down close to the psychological area of 1.4000. We look for continued dollar strength as the dollar index is showing signs that the greenback is indeed BACK! There is also talk of the US Fed raising interest rates as the US emerges from the recession faster than other countries like Japan. We want to allow the market to "cool its heels" and then look for areas to take a position. Good luck this week and we wish profitable trading to all!
To the Summit,
4xSummit
Wednesday, January 13, 2010
Next
Traders,
Since the end of last week through today most dollar pairs are stuck in a range. Non-farm payrolls was unable to break the mold so now we look to retail sales tomorrow to try and establish a new trend or breakout of the existing trend. Remember this retail sales figure will include numbers from the holiday shopping season which will give us a clue as to how that sector performed. As we blog, the dollar has gained considerable strength across the board...is this a reversal or just a retracement to fall back into the range pattern?
To the Summit,
4xSummit
Since the end of last week through today most dollar pairs are stuck in a range. Non-farm payrolls was unable to break the mold so now we look to retail sales tomorrow to try and establish a new trend or breakout of the existing trend. Remember this retail sales figure will include numbers from the holiday shopping season which will give us a clue as to how that sector performed. As we blog, the dollar has gained considerable strength across the board...is this a reversal or just a retracement to fall back into the range pattern?
To the Summit,
4xSummit
Wednesday, January 6, 2010
1st NFP of 2010
Traders,
This Friday is the 1st NFP report of the new year which has the potential to completely change the sentiment of the market. Economists are expecting no job losses with even the potential for job creation. Whichever way it goes, expect major fireworks on Friday. This has the markets rattled right now. If you are an equity follower you have noticed that the Dow and S&P have been flat all week. The calendar is full of FA's leaving the markets indecisive and not knowing how to treat that news when coupled with Friday's expectations. 4xSummit has been patient all week and will continue to be until the market makes a decision. Our advice is to be very careful right now and protect your account.
To the Summit,
4xSummit
This Friday is the 1st NFP report of the new year which has the potential to completely change the sentiment of the market. Economists are expecting no job losses with even the potential for job creation. Whichever way it goes, expect major fireworks on Friday. This has the markets rattled right now. If you are an equity follower you have noticed that the Dow and S&P have been flat all week. The calendar is full of FA's leaving the markets indecisive and not knowing how to treat that news when coupled with Friday's expectations. 4xSummit has been patient all week and will continue to be until the market makes a decision. Our advice is to be very careful right now and protect your account.
To the Summit,
4xSummit
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