I'm outta this spaghetti a little. Thomson complains: "Until further notice all US economic data is to be read bearishly for the USD. Doesn't matter what the data says, the specs are going to sell the buck until they find buyers..." That Jamie Coleman is the most biased commenter on that news service. I'm not saying I'm unbiased though - but I'm not writing "news articles" or comments for a professional, commercial investor news service. That guy is just a little more "opinionated" in his comments, less factual, sticking to facts, rumours than the others it seems.
Well if this downdraft gets bought again, I'll puke my lungs out. Anyway, I parked little bit better than breakeven and waiting here.
What did the Austrian minister say and when did he say it? I briefly saw the 8:45 headline on Bloomberg TV and it was something about how inflation was moderate, or was going to continue to be under control, or something to that effect.
You like going over all of the news, reports and come up with nice commentary. You should start your own web site. If you get 100 subscribers for $100/month, that's 120k risk free/year
Thomson reports: "15:08 EUR/USD: Moskow Calls Current Account 'Unsustainable'] Boston, November 16: EUR/USD has bounced back to the 1.2960s, goosed by comments from Chicago Fed president Moskow that the US current account is unsustainable and must come down over time. He notes sluggish growth in Europe and Japan and urges more US savings. Other Fed members have been blunter in their jawboning down the dollar than these comments, but taken in the context of the September FOMC minutes, the Fed is clearly concerned and sees a dollar decline a one road to better balance in the current account. Europe, unfortunately for them, bears the brunt of the adjustment owing to pegs and quasi pegs in Asia. 1.3000/10 remains the near-term stumbling block while 1.2920 is support. --"
Well, what I remember was that he said that markets should decide foreign exchange pricing themselves.
There is a large 1.3000 options expiry tomorrow - consider that a fore-warning. Sometimes writing is fun, but it's better to be free from having to write. Besides, would YOU pay $100 to read my comments ?
1.3000 options expiry tomorrow meaning people say EUR will not hit 1.3000 or EUR will hit 1.3000? I always mixed that up.
Well, some will try and break above to get their side of the prize, while others will try to defend - not letting it break above - to claim their prize on the options. Remember - options are "prenegotiated prices".
So when Thomson reports a 1.3000 plain-vanilla strike rolling off Wednesday, you really do not know if it means to keep away from 1.3000 or touch/surpass... although when they mention the one-touch @ 1.3100 i am assuming that implies it will need to touch that mark to get the 12M..