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Non-Farm Payrolls Instant Insight: Not Enough to Cut 50bp
Non-farm payrolls dropped by 159k last month, 50 percent more than the market expected. Even though there was a minor upward revision to the August data, the Fed will have no choice but to cut interest...
View ArticlePanic Selling in Forex Begs Coordinated Easing
It has been an extremely volatile day in the currency markets with big figures (100 pip) moves in USD/JPY happening in a blink of an eye. The more than 4 percent decline in USD/JPY is the largest...
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Coordinated Interest Rate Cuts – Too Little, Too Late?
We have been literally begging the Federal Reserve, the European Central Bank and the Bank of England to work together to stem the bleed in equities and they have finally done it (What is the Fed...
View ArticleShort Squeeze Triggers Sharp Volatility in Stocks, FX Traders Look for Buying...
For the first time since March 2003, the Dow Jones Industrial Average broke 8000 at the open of the US markets. However just as quickly as stocks dropped 600 points, it recovered more than half of its...
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Volatility in the Currency Market (Video)
Here are two interviews that I did with the Moneyshow last week about the volatility in the currency market and the Japanese Yen. Pretty basic stuff, but may be a good listen. Click on the image to...
View ArticleIs Earnings Season Bringing Back Recession Fears?
The feel good factor in the markets was relatively short-lived with the 400 point rally in the Dow this morning turning into a more than 76 point decline by the end of the US trading session. The US...
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Weak Consumer Spending = Negative GDP
Retail sales dropped by the most since August 2005 as consumers cut spending on cars, furniture, electronics, clothing and sporting goods. Americans are even eating out less and only spending on the...
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Lehman CDS Auction Prevents Euro and Pound from Rallying
With the lack of any major US economic data on the calendar this week, the big event risk for the stock market and the US dollar is the Lehman Brothers’ Credit Default Swap settlement on October 21....
View ArticleFinally Stabilization for the Financial Markets?
In the face of today’s 200 point positive and negative swings in the Dow, it could be argued that the US dollar has been relatively stable if you only look at the daily change of the 3 major currency...
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Dollar Closing In on 5% Targets, Where are the Value Points?
The type of moves that we have seen in the currency market during the Asian and European trading sessions are typically what we see in a quarter or a half year. USD/JPY has fallen 5 percent, AUD/USD is...
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