Archive for October, 2009

When I began my career as an analyst, I was lucky enough to have some time with a few old pros. One in particular that I will always remember told me that a kid with a ruler could make a million dollars in the markets. He was talking about trendlines…. more from... »

The dollar rose on Friday as US stocks consolidated recent strong gains and risk appetite moderated. US existing home sales rose to the highest level in more than two years. The S&P 500 index declined 13.31 to 1,079.69 despite strong earnings from Microsoft and Amazon. The yen fell to the… more from... »

One of the strongest moving currencies this week had been the Great British Pound, in reaction to market noise that showed the possibility of quantative easing being addressed sooner than some had expected. The move that started on Monday, to move higher from 1.6280 started on Monday and stair-stepped higher… more from... »

Investor’s pessimism dominated markets today even as the strong jump in the sales of existing houses in the united states to a two year high along with better than expected results from the technological sector represented by results from Amazon.Com and Microsoft Corp, as they focused upon railroad companies releases… more from... »

USD traded mixed Friday with GBP sharply lower and EUR trading at a new high for 2009. GBP was pressured by report of an unexpected decline in UK Q3 advance Q3 GDP and the EUR was supported by gains in cross trade to GBP and in reaction to report that… more from... »

The trends that evolved throughout the European morning maintained momentum in currency markets. The GBP and JPY pairs were softer against the other major pairs. GBP/USD tested below the 1.6350 level in follow-through selling from the negative Q3 UK GDP data, which will have implications for the debate over expanding… more from... »

A sixth consecutive quarterly decline in British GDP marked the longest recorded string of negative growth readings since records began in 1955. A 0.4% quarterly decline confounded expectations for a 0.2% gain and created an immediate slump in the value of the pound, which has lost almost three cents against… more from... »

Existing home sales jumped 9.4 percent in September to an annual pace of 5.57M units, the best performance since summer 2007. Buyers and sellers continued to take advantage of the first-time home buyer tax credit. Sales jumped 9.4 percent, the biggest jump since the combined single- and multi-family series began… more from... »

The euro held onto levels above USD1.50 early Friday in New York, and was little changed from its day-earlier levels after rising Asian stocks and strong euro zone economic data continued to stoke investors’ appetite for the higher-yielding currency. The Dollar Index, a trade-weighted basket of six currencies, was at… more from... »

Today’s data confirms that the recovery is on track with France pulling ahead. The PMI new orders index is currently signalling growth at just below 2% q/q annualised. This is very much in line with our expectation of growth at 1.9% q/q annualised in Q3. We would not be surprised… more from... »