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  • Brazil Hikes Rates Again!

    In This Issue..

    * Currency rally holds on to gains...
    * Rate hikes begin to add up...
    * Trade & Budget Deficit monsters...
    * Canada posts a trade surplus!

    Good day... And a Happy Friday to one and all! Let's go on record right out of the starters' blocks this morning, and say this will be a Fantastico Friday, eh?

    Well... What a rally in the risk assets yesterday! And for once, when the rally fizzled out yesterday afternoon, profits weren't taken in the overnight markets... Instead we saw a consolidation, if you will, of the price gains on Thursday in the overnight markets. That's nice to see, eh? For it had been the pattern of recent times to just sell off any gains, and end up back on square one, or even lower than the starting level. So, like I said, this was very nice to see... I checked the levels last night before I went to bed, and noticed that there had not been any sell off, and thought, what a great Friday it would be tomorrow, if these can hold throughout the night... And they did!...
  • Waiting On The RBNZ...

    In This Issue..

    * Currencies trade in a tight range...
    * Fed to keep rates unchanged till 2011?
    * Brazil GDP soars 9%!
    * Another glut of Treasuries to auction...

    Good day... And a Wonderful Wednesday to you! I had a first today on the way to work... I hit every green light! Now... I'm sure you are wondering why I would even have green lights at this hour of the morning... Me too! But they are there! And it was smooth sailing into work today... YAHOO!

    OK... Let's get serious, serious... The currencies traded in a tight range yesterday, with a brief mini-rally in euros, as the single unit rallied to 1.20, but that was short-lived. The rumor going around was that the Swiss National Bank (SNB) was intervening...

    ...
  • A Rate Hike For Australia...

    In This Issue..

    * Euro continues to get sold...
    * RBA shocks markets with statement...
    * Brazilian real bucks the trend...
    * Gold continues to move higher...

    Good day... And a Terrific Tuesday to you! Thanks for all the 'Welcome Back' notes and e-mails yesterday... It helped make the day rush by in a heartbeat! Before I knew it, I was yawning, and getting tired, so... Out the door I went! But all-in-all, it was good to be back in the saddle, and to see all my colleagues here at EverBank again.

    Well... Front and Center this morning, is the fact that the NY boys and girls didn't like the Greek Bailout one iota yesterday, sending the single unit below 1.32... When the traders in Asia and London returned last night and this morning, they too did not like what they saw and sent the euro even lower......
  • Thin trading brings tight ranges...

    In This Issue..

    * Thin trading brings tight ranges...
    * Searching for the exits...
    * Mixed data in Europe...
    * Yen and Real make strange bedfellows...

    Good day...We had a pretty quiet 24 hours in the currency markets, with the majors all trading in a very narrow band vs. the US$. We will probably have a few more of these days during the next two weeks, as currency desks are manned by the backups and trading thins out. Many of the institutional investors will be moving to cash in order to preserve gains for their year end statements, and individual investors will have the holidays to take them away from the markets. Occasionally we will get a rogue piece of economic data which shoves the market one way or the other, but we typically won't see any long term positions being put on during the last two weeks of the year....