FUTURESTRADER
Active member
Glad to didn't call me that.....cause I only qualify as an EX-Pert....not Perv...just pert..
FS
ex-spurt
-
The Forum works well on MOBILE devices without an app: Just go to: https://forum.tsptalk.com
-
Please read our AutoTracker policy on the IFT deadline and remaining active. Thanks!
-
$ - Premium Service Content (Info) | AutoTracker Monthly Winners | Is Gmail et al, Blocking Our emails?
Find us on: Facebook & X | Posting Copyrighted Material
-
Join the TSP Talk AutoTracker: How to Get Started | Login | Main AutoTracker Page
-
The Forum works well on MOBILE devices without an app: Just go to: https://forum.tsptalk.com ...
Or you can now use TapaTalk again!
nnuut's Account Talk
- Thread starter nnuut
- Start date
ex-spurt
FogSailing
Well-known member
Luks lik I kneed to lirn to spale...
FS
FS
nnuut
Moderator | TSP Legend
nnuut
Moderator | TSP Legend
Forex - US dollar rangebound ahead of Bernanke speech
SYDNEY (Thomson Financial) - The US dollar was mixed in narrow bands inearly trading Friday in Asia, with dealers reluctant to change positions aheadof a much awaited speech by Federal Reserve chairman Ben Bernanke later in theday. At 9.45 am (2345 GMT Thursday), the dollar was at 116.01 yen, up from 115.74yen in late New York trading. The euro was at 1.3645 dollars, up from 1.3637dollars. Equity markets are hoping Bernanke will indicate that a cut in the federalfunds target rate by the Federal Open Market Committee meeting on Sept 18 is apossibility if financial markets fail to respond to measures already taken bythe central bank to restore stability. Such an indication could put the dollar under renewed selling pressure, butuntil Bernanke's speech the foreign exchange market is likely to be in a holdingpattern, said John Noonan at Thomson IFR. Economic data released in Japan Friday, including the latest consumer priceindex andindustrial production data, are likely to be ignored, with attention focused onBernanke, Noonan said. "The market is now firmly focussed on Bernanke's speech ... and will lookfor clues to if and when the Fed will lower the fed funds target rate," Noonansaid. "If Bernanke doesn't clearly signal a September cut, and if US data outtoday is on the soft side, then we could see Wall Street slump and this shouldpush carry trades lower." US data due Friday include the latest on consumer sentiment and factoryorders. In New York Thursday there was little interest in US gross domestic productgrowth in the second quarter being revised up to 4.0 percent from the initialestimate of 3.4 percent, given that the figure was backward-looking. Instead, anunexpected rise in jobless claims raised concern that layoffs related to thesubprime mortgage market meltdown were starting to show up in economic data. NAB Capital Markets currency strategists said risk aversion remains, as seenon Thursday when the Australian dollar came under pressure and the yen gained onnews that Australia's Basis Yield Alpha Fund has filed for bankruptcyprotection. "There is little sign that credit markets are unfreezing at this stage, sorisk aversion continues, suggesting any gains in the Australian dollar will belimited," NAB Capital Markets said. NAB Capital Markets said Bernanke is in the spotlight as investors willregard any reference to the economic situation in the US as a sign that the Fedis likely to cut interest rates. The market is decidedly bearish about the dollar ahead of Bernanke's speech,although much of this sentiment is based on assumptions that the subprimefallout will be a big drag on the economy,GFT senior financial analyst Ian Copsey said. "This is very likely over time, but with a slight lag in reaction we mayjust see some more positive numbers come through initially, and this may wellstall the dollar's slide seen this week," Copsey said. He said that technically there does not appear to be much more leeway on thedollar's downside across the board. "If we see much more of a recovery today we could find some speculativeshort positions hit stops, which will take the dollar higher," Copsey said. (more)http://www.advfn.com/p.php?pid=forexarticle&cb=1188525076&article=22069864
SYDNEY (Thomson Financial) - The US dollar was mixed in narrow bands inearly trading Friday in Asia, with dealers reluctant to change positions aheadof a much awaited speech by Federal Reserve chairman Ben Bernanke later in theday. At 9.45 am (2345 GMT Thursday), the dollar was at 116.01 yen, up from 115.74yen in late New York trading. The euro was at 1.3645 dollars, up from 1.3637dollars. Equity markets are hoping Bernanke will indicate that a cut in the federalfunds target rate by the Federal Open Market Committee meeting on Sept 18 is apossibility if financial markets fail to respond to measures already taken bythe central bank to restore stability. Such an indication could put the dollar under renewed selling pressure, butuntil Bernanke's speech the foreign exchange market is likely to be in a holdingpattern, said John Noonan at Thomson IFR. Economic data released in Japan Friday, including the latest consumer priceindex andindustrial production data, are likely to be ignored, with attention focused onBernanke, Noonan said. "The market is now firmly focussed on Bernanke's speech ... and will lookfor clues to if and when the Fed will lower the fed funds target rate," Noonansaid. "If Bernanke doesn't clearly signal a September cut, and if US data outtoday is on the soft side, then we could see Wall Street slump and this shouldpush carry trades lower." US data due Friday include the latest on consumer sentiment and factoryorders. In New York Thursday there was little interest in US gross domestic productgrowth in the second quarter being revised up to 4.0 percent from the initialestimate of 3.4 percent, given that the figure was backward-looking. Instead, anunexpected rise in jobless claims raised concern that layoffs related to thesubprime mortgage market meltdown were starting to show up in economic data. NAB Capital Markets currency strategists said risk aversion remains, as seenon Thursday when the Australian dollar came under pressure and the yen gained onnews that Australia's Basis Yield Alpha Fund has filed for bankruptcyprotection. "There is little sign that credit markets are unfreezing at this stage, sorisk aversion continues, suggesting any gains in the Australian dollar will belimited," NAB Capital Markets said. NAB Capital Markets said Bernanke is in the spotlight as investors willregard any reference to the economic situation in the US as a sign that the Fedis likely to cut interest rates. The market is decidedly bearish about the dollar ahead of Bernanke's speech,although much of this sentiment is based on assumptions that the subprimefallout will be a big drag on the economy,GFT senior financial analyst Ian Copsey said. "This is very likely over time, but with a slight lag in reaction we mayjust see some more positive numbers come through initially, and this may wellstall the dollar's slide seen this week," Copsey said. He said that technically there does not appear to be much more leeway on thedollar's downside across the board. "If we see much more of a recovery today we could find some speculativeshort positions hit stops, which will take the dollar higher," Copsey said. (more)http://www.advfn.com/p.php?pid=forexarticle&cb=1188525076&article=22069864
FogSailing
Well-known member
Paladin:
Thanks for the er...complement...compliment..
FS
Thanks for the er...complement...compliment..
FS
nnuut
Moderator | TSP Legend
Yeah CO, I don't trust the Market's reaction this morning. ISM down, Construction spending Down, and other stuff that slips my Old Mind, might be a head fake, might not?
The NASDAC, and the DOW are flirting with the 50 DayMovingAverage, if they pop through we might be on the way up, if not we still have to deal with a chance that we may test the prior lows?
I hate the "F" Ya know!
The NASDAC, and the DOW are flirting with the 50 DayMovingAverage, if they pop through we might be on the way up, if not we still have to deal with a chance that we may test the prior lows?
I hate the "F" Ya know!
nnuut
Moderator | TSP Legend
Sure will CC, but remember what the LOWS said to the HIGHS, "Comon down and revisit anytime", Ya never know. Be careful out there and Good Luck!View attachment 2072
Geaux4it
Member
Last edited by a moderator:
FogSailing
Well-known member
I know Nnuts...I am so conflicted on this action today..but I'm heading dowm the rabbit hole anyway....too late to reconsider...GL to Us All..
FS
FS
Similar threads
