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Forex Market Outlook 11/28/11
The markets are off to a quick start this morning after last week’s worst-performing stock market since the Great Depression. Global stocks are soaring this morning, as are commodity prices, particularly oil. The Dollar is lower with risk currencies (including the Euro) moving higher. There are two obvious factors at work this morning, but there [...]
Forex Market Outlook 11/25/11
I hope everyone here in the US had a great Thanksgiving yesterday, though the same can’t be said for the markets. We are still in risk aversion mode as the Euro debt crisis continues to plague the global economy so the US dollar has been the favored investment vehicle of choice. Today is a shortened [...]
Forex Market Outlook 11/23/11
Well there’s not much to be thankful for, economically speaking, ahead of tomorrow’s Thanksgiving holiday here in the US. Markets and banks will be closed tomorrow, and Friday will be a half-session, though the forex market will continue to trade, albeit on lighter volume during the US session. So if investors have fears about the [...]
Forex Market Outlook 11/22/11
It’s a slow day in the marketplace this morning and we’re seeing a bit of a rebound after yesterday’s sell-off. The “Super-Failure” of the debt reduction committee was extremely disappointing to the markets yesterday, though it always baffles me how the markets could have thought they could succeed in the first place as it was [...]
Forex Market Outlook 11/21/11
Markets are selling off this morning as the realization that the debt “super-committee” was nothing more than a “super-sham” intended to set the stage for the unbearably ugly political battle we are about to see unfold over the course of the next year. While the most optimistic of us had high hopes that they might [...]
Forex Market Outlook 11/18/11
World markets started out this morning in a very good mood as there is a new hope and belief that the Euro debt crisis is moving closer toward a resolution. Lots of chatter from EU leaders has the market in an upbeat mode. But has anything changed? Not really. And perhaps I am indicative of [...]
Forex Market Outlook 11/17/11
All eyes continue to focus on Europe and the rising yield situation as it unfolds and pushes the cost to finance debt to record levels. Italy and Spain have seen record yields as of late, and now the attention is starting to turn toward France, the EU’s second largest economy. Spain also downgraded their GDP [...]
Forex Market Outlook 11/16/11
Buy the dips and sell the rips. That is exactly how one should navigate this forex market as headline risk from the Euro zone is countered by the US need for stock prices to go higher. So the market action of late has been selling in the Euro session and buying in the US. This [...]
Forex Market Outlook 11/15/11
Well it looks like its bond yields in Europe that have the markets in a tizzy yet again this morning, with the Italian 10-year note back up above 7%, and a short-term note auction in Spain did not go off as planned as they sold less than the 3.5 billion euros they had hoped, at [...]
Forex Market Outlook 11/14/11
Once again our attention is on Europe as new regimes are coming into power in both Greece and Italy. This completes the change in all four S. European countries, with Portugal’s leader having resigned months ago and Spain’s leader electing not to run for office again. Now the challenge will be to get them all [...]
Forex Market Outlook 11/11/11
Today is “11-11-11” and folks have been waiting a while for this as sometimes the wackiness that ensues on days like today will leave you scratching your head. But today is also Veteran’s Day here in the US, so it is a bank holiday which means that we could see reduced volumes in the currency [...]
Forex Market Outlook 11/10/11
There is a small sense of relief in the markets today after yesterday’s sell-off due to bond yields rising in Italy to above 7%. Italy was able to get off their bond auction which shows that they still have the ability to fund themselves, though higher yields will make it much harder for them to [...]
Forex Market Outlook 11/9/11
There’s really only one story to discuss today and that is Italy. Italian bond yields are soaring and I mean soaring and the market reaction is not pretty. In a story of “be careful what you wish for”, Italian Premier Berlusconi is said to be stepping down next week but today’s crisis may actually reverse [...]
Forex Market Outlook 11/8/11
Today is one of those days where there is seemingly nothing happening, with little economic data released but one major event holding the market’s attention. The budget acceptance vote in Italy is now being viewed as a proxy for Berlusconi’s power in Italy and the potential for political theatrics at this vote could bring about [...]
Forex Market Outlook 11/7/11
Goodbye Greece, hello Italy! That’s pretty much what the markets are saying right now as Greece is in the rearview mirror and now Italy is to the forefront. Over the weekend, Greece PM Papandreou agreed to form a coalition government and to step down from that government when it is formed. In Italy, PM Berlusconi [...]
Forex Market Outlook 11/4/11
Today is “jobs Friday” as we are awaiting the Non-Farm Payrolls report which is expected to show that the economy added 100K jobs, 125K in the private sector and the unemployment rate to remain steady at 9.1%. These are hardly attractive numbers, yet anything remotely close to these will be seen as positive by the [...]
Forex Market Outlook 11/3/11
Once again all eyes are on Greece this morning as we are running the gamut of Greek theater. First we saw the drama unfold during the painstaking debt crisis resolution and now we’re watching the comedy of errors that is taking place with misstep after misstep. Will we eventually see the tragedy? And whom would [...]
Forex Market Outlook 11/2/11
How does one get invited to that ultra-ritzy resort town of Cannes, France? Apparently by upsetting G-20 leaders as you potentially re-neg on a deal that may be the most important economic event of the past year. Yet that’s where Greek PM Papandreou will be as he has been “summoned” to the G-20 meeting to [...]
Forex Market Outlook 11/1/11
Do you remember last week when I said that with regard to the Euro debt crisis resolution, the devil is in the details? Well it looks like that prognostication was prescient as new information is coming to light. At the time I noted that while the plan sounded good, how they would actually enact it [...]
Forex Market Outlook 10/31/11
This Halloween is turning out to be more trick than treat as the market digests the events of the past week, particularly the Euro debt resolution. This week is starting out in risk aversion mode with US dollar strength and stock market and commodities weakness. One of the “tricks” from over the weekend was the [...]
