Fund Performance on average per day : 14.8%
Today's events
JPY : Intervention by the MOF - Administrative Vice Finance Minister Fujii mentioned that recent EUR/JPY appreciation was a little rough; Finance Minister Omi also made
the exact same comment at a regular press conference today, probably to soften the effect of the overvalued EUR/JPY
CNY : USD/CNY retracted after Graham and Schumer decided to drop their plans for a vote on their bill. I am still bullish on the CNY
NZD : GDP came in a bit weak, 0.5% Q/Q and 1.4% Y/Y. The market forecasted growth of 0.6% Q/Q and 1.3% Y/Y. The difference was'nt that significant, the NZD is not expected to be on the sell off yet.
GBP : Consensus has it that the BoE is not going to raise rates yet, given the recent slew of figures indicating a slower growing economy
Coming Up
2030h - USD : Personal Spending figures should be lower than expected given the lower housing figures.
2030h - CAD : GDP figures expected to rise. Take the long on the CAD
Friday, September 29, 2006
Wednesday, September 27, 2006
ROI : 12%
NZD : Swing Traders - NZD is expected to fall because of weak fundamentals, the release of the current account balance was worse than expected and comments by the Finance Minister Cullen implied that NZDUSD could drop to 0.400
USD : Swing Traders - The dollar might be in for a medium term rally after the release of stronger than expected new housing sales and better than expected data yesterday. Long term traders - Weak fundamentals from the Philly surprise last week caught the market offguard. The l-0.14 versus market expectations of 14 caused fuelled fears that the US economy is heading for a recession.
0750h : Large Retailers' Sales in Japan is expected to be better than expected and short term traders can take the long side on the Yen
1400h : Germany releases its ILO unemployment rate and England its nationwide housing prices. Dovish comments from the BoE today could instigate swing investors to take the short position for the GBP. Short term traders - housing prices to go up tomorrow; Stronger than expected M3 figures underpins more interest rate hikes for the Euro; Short term traders - Go Long on on the Euro as ILO unemployment is expected to decrease
NZD : Swing Traders - NZD is expected to fall because of weak fundamentals, the release of the current account balance was worse than expected and comments by the Finance Minister Cullen implied that NZDUSD could drop to 0.400
USD : Swing Traders - The dollar might be in for a medium term rally after the release of stronger than expected new housing sales and better than expected data yesterday. Long term traders - Weak fundamentals from the Philly surprise last week caught the market offguard. The l-0.14 versus market expectations of 14 caused fuelled fears that the US economy is heading for a recession.
0750h : Large Retailers' Sales in Japan is expected to be better than expected and short term traders can take the long side on the Yen
1400h : Germany releases its ILO unemployment rate and England its nationwide housing prices. Dovish comments from the BoE today could instigate swing investors to take the short position for the GBP. Short term traders - housing prices to go up tomorrow; Stronger than expected M3 figures underpins more interest rate hikes for the Euro; Short term traders - Go Long on on the Euro as ILO unemployment is expected to decrease
fund performance todate ROI : 25.3%
Today's Events
USD : GDP was released at 2.6% , which was largely according to market expectations. This meant that Economic growth is slowing. 4 things to note. First, High energy prices continue to curb spending. Second, housing sales is something of concern to the Fed, according to US Kansas City Fed President Hoenig. Thirdly, weaker profitability and higher defaults in the banking sectors might lead to the Fed cutting interest rates in future. Lastly, the Dollar Yuan issue, which will be decided in "a day or two" in the meeting between Paulson and Schumer
JPY : The new finance minister's comments on "the yen is somewhat weak against the euro" caused the EUR/JPY to surge.
EUR : The unemployment figures today was somewhat higher than expected. The ILO reading of unemployment went to 8.2% from 7.9%, probably because of the loss of jobs after the end of the World Cup. Overall, Germany's labour market has shown much improvement but the upcoming VAT hike to 19% from 16% could have a large impact on the German economy.
Tomorrow
0730h : JPY - Japan releases a host of important figures for the month and we can expect this to have an impact on the JPY. The consensus is that both employment figures and CPI reports are anticipated to rise.
1400h : EUR - German retail figures are released. Expectation is that the MoM figures will be slightly better than August's
1630h : GBP - Consumer Credit figures might be worse than thought. Today's correction from the UK Office of National Statistics together with the BoE's dovish comments shows that the GBP is facing more of a slowdown than inflationary presuure.
Today's Events
USD : GDP was released at 2.6% , which was largely according to market expectations. This meant that Economic growth is slowing. 4 things to note. First, High energy prices continue to curb spending. Second, housing sales is something of concern to the Fed, according to US Kansas City Fed President Hoenig. Thirdly, weaker profitability and higher defaults in the banking sectors might lead to the Fed cutting interest rates in future. Lastly, the Dollar Yuan issue, which will be decided in "a day or two" in the meeting between Paulson and Schumer
JPY : The new finance minister's comments on "the yen is somewhat weak against the euro" caused the EUR/JPY to surge.
EUR : The unemployment figures today was somewhat higher than expected. The ILO reading of unemployment went to 8.2% from 7.9%, probably because of the loss of jobs after the end of the World Cup. Overall, Germany's labour market has shown much improvement but the upcoming VAT hike to 19% from 16% could have a large impact on the German economy.
Tomorrow
0730h : JPY - Japan releases a host of important figures for the month and we can expect this to have an impact on the JPY. The consensus is that both employment figures and CPI reports are anticipated to rise.
1400h : EUR - German retail figures are released. Expectation is that the MoM figures will be slightly better than August's
1630h : GBP - Consumer Credit figures might be worse than thought. Today's correction from the UK Office of National Statistics together with the BoE's dovish comments shows that the GBP is facing more of a slowdown than inflationary presuure.
1410h : (EUR) Germany Gfk Consumer Confidence is expected to increase. Intraday traders - With lower oil prices and a higher German IFO business survey, the EUR is expected to rise slightly within the day
Swing traders - However, the EUR is expected to decrease in the long term. I expect that the European Central bank may soon announce a more conservative plan for interest rates. With a stronger dollar recently, investors might take on new buying interest away from the Euro
Swing traders - However, the EUR is expected to decrease in the long term. I expect that the European Central bank may soon announce a more conservative plan for interest rates. With a stronger dollar recently, investors might take on new buying interest away from the Euro
Tuesday, September 26, 2006
Welcome to Profit with FOREX. Spot FX trading is exciting! - if you love economics and have always been intrigued by global politics and what's happening in the central banks, then let me invite you to join me on this journey to study the FOREX market. In many ways, FX is much better than equity trading because the market runs 24 hours a day and you can have potentially higher returns by trading FOREX.
Subscribe to:
Posts (Atom)