Bush noted that in addition to the budget deficit, America suffers from a huge trade deficit. "That's easy to resolve," Bush said. "People can buy more United States products if they're worried about the trade deficit." http://abcnews.go.com/Politics/wireStory?id=333623 -- heh
I see UK Retail Sales report comes out 9:30GMT. does it usually impact the Euro? I would think the US Current Acct at 8:30EST would have some action...any views? I'm short the Euro H05 futures (again ) o/n ..plan to put a stop order at 3435 before calling it a night. Remember after the spike and the drop, it only traded up to 3432 so if it goes above that I'd rather be out of it and besides it should get me out close to b/e. I would also place buy orders between 3351-55 range (yesterday's hi 3350) hoping not to repeat last night's mistake of not having buy orders in when the mkt wants to give you $$$. It has always been a timing issue...when I have order in mkt trades thru them and keeps on going w/o looking back...now that I have orders in it might just do that. I have to say though that every dip seems to be bought back up rather quickly but hear 1.35 would be major resistance and potentially might initiate some "talk" intervention.
Book question: Does anyone know of any books that go into detail about market depth / book order details (ie. theory into when you see tons of bid orders on the books and few sell orders, analyzing trends through bid/ask orders on the books, etc) ?
I've heard that Globex terminals show all market levels (not just 5 each way) but I haven't seen it for myself.
The current account deficit is the primary reason for the USD weakness; less of a market mover than non-farms or surprises by the FED but more important than anything else at the moment. Cheers, TRADERguy
I found some info saying that is the case - with 30 levels - for contracts, except the ES and some. It was a chat-log here on ET (with FFastTrade I think it was). Otherwise I found a little info and some partial screenshots from the CME system release notes page : http://www.cme.com/trading/get/dev/systreleasen2840.html .
Ok. Ready to get back in, but will wait for C/A to be released first. Before that, it's too dicey - EUR looks like it will retrace (broke 80 support) and with CA data, it could come back again. I'll start trading after 8:30 EST.