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COMMENTARY

• GBP/JPY to Resume Downtrend at 122.06?
  Written by Bradley Gareiss
  Last updated 10/20/2011 8:42:02 PM ET
  A bearish Gartley pattern is forming on the GBP/JPY.
  0 comments
• U.S. Data Lifts Dollar as Hope for EU Deal Wanes
  Written by Kathy Lien
  Last updated 10/20/2011 10:42:09 AM ET
  This morning's U.S. economic reports continue to show gradual improvements in the U.S. economy. There has been a very
  0 comments
• Euro Whipsaws While Cable Gets No Lift From Retail Sales
  Written by Boris Schlossberg
  Last updated 10/20/2011 5:20:42 AM ET
  Another whipsaw night of trade in the currency market as risk FX sold off in Asia on lack of any clear details ahead of the EU summit this weekend, only to find a bid in early Europe as bargain hunting kicked in. Reports that officials are having a difficult time arriving at a consensus weighed on risk appetite in Asian trade with stocks selling off across the board as Nikkei dropped by 1.03% while Heng Seng lost 2.76%.
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• Euro Seesaw Continues as Worries Over Summit Persist
  Written by Boris Schlossberg
  Last updated 10/20/2011 2:51:20 AM ET
  Risk FX was lower in Asian session trade today with EUR/USD falling below the 1.3700 level today as concerns mounted regarding the upcoming EU summit scheduled for this weekend. Reports that officials are having a difficult time arriving at a consensus weighed on risk appetite with Asian stocks selling off across the board as Nikkei dropped by 1.03% while Heng Seng lost 2.76%.
  0 comments
• GBP/JPY to Test Support at 119.08?
  Written by Bradley Gareiss
  Last updated 10/19/2011 9:13:46 PM ET
  A bullish Gartley pattern is forming on the GBP/JPY.
  0 comments
• USD: FOMC Minutes vs. Economic Data
  Written by Kathy Lien
  Last updated 10/19/2011 4:35:11 PM ET
  It has been another volatile day in the financial markets with stronger U.S. economic data offset by a pessimistic Beige Book report. According to the 12 Fed Districts
  1 comment
• USD: Risk Appetite Sustained by Positive US Data
  Written by Kathy Lien
  Last updated 10/19/2011 8:57:00 AM ET
  Investors around the world are looking at the market through rose colored glasses ignoring all of the negative news flow from Europe. Stronger U.S. economic data has helped to sustain the rally in risk and encourage the Fed to
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• Euro Holds Out Hope For Deal, Pound Shrugs Off BoE Minutes
  Written by Boris Schlossberg
  Last updated 10/19/2011 5:45:06 AM ET
  Currency markets remained in a state of suspended animation as EUR/USD seesawed around the 1.3800 level and traders attempted to get more clarity on the evolving EFSF deal ahead of the EU summit this weekend. Yesterday at the close of North American trade the Guardian reported that officials were working on expanding the size of the fund to 2 trillion euros, creating a massive short covering squeeze that saw the pair rise nearly 100 point in a matter of minutes.
  0 comments
• Euro In a Tug of War at 1.3800 As Traders Await Deal
  Written by Boris Schlossberg
  Last updated 10/19/2011 4:18:18 AM ET
  The currency markets were in a state of suspended animation at the start of European session trade as conflicting news regarding the expansion of the EFSF created wild two way swings the EUR/USD during Asian trading. The pair first soared to a high of 1.3810 at the end of North American dealing on reports by the Guardian newspaper that EZ officials reached an accord to expand the EFSF ahead of the EU summit this weekend. That story however was quickly denied and the EUR/USD quickly reversed its gains fueled further to the downside by downgrade of Spain by Moody’s. It quickly found support in Asia at 1.3720 and has proceeded to climb back to session highs on optimism that some sort of an accord will be reached this weekend.
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• GBP/NZD Short Oppotunity at 2.0096
  Written by Bradley Gareiss
  Last updated 10/18/2011 9:27:13 PM ET
  A bearish Gartley pattern is forming on the GBP/NZD 2hr Chart.
  0 comments
• FX: EUR RUMORS CONTINUE, RISK BOOSTED BY BETTER US DATA
  Written by Kathy Lien
  Last updated 10/18/2011 5:23:17 PM ET
  Risk appetite stabilized today on the heels of better than expected earnings from Bank of America and stronger economic data from the U.S. Sluggish growth across the globe did not dampen corporate America as much as some economists had feared and with Apple reporting earnings after the bell there was a sense of hopefulness in the markets. Unfortunately Apple missed analyst expectations which could weigh
  0 comments
• Central Bank Intervention Drives Major Purchases of USD
  Written by Kathy Lien
  Last updated 10/18/2011 9:40:56 AM ET
  The U.S. government may have lost its AAA rating, but the dollar has not lost its luster. According to the Treasury International Capital flow report, foreign demand for U.S. dollars rose $89.6B in August, with purchases of long
  3 comments
• EUR/USD Break Below 1.3700 As Doubts on Summit Multiply
  Written by Boris Schlossberg
  Last updated 10/18/2011 5:44:23 AM ET
  The risk rally is definitely running out of steam as high beta currencies ran into their second straight day of liquidation sparked by weaker than expected GDP readings from China and continuing uncertainty over the efficacy of policy solutions that will be presented at upcoming EU summit on the sovereign debt crisis. The EUR/USD dropped through the 1.3700 level as enthusiasm began to wane over possibility that EU officials will be able to produce a comprehensive plan to resolve the region's credit problems.
  0 comments
• Chinese Growth Slows Tempering Appetite For Risk FX
  Written by Boris Schlossberg
  Last updated 10/18/2011 1:49:36 AM ET
  Chinese economic data printed mixed with GDP slowing more that the market forecast while Retail Sales and Industrial Production beat expectations. Chinese GDP in Q3 came in at 9.1% versus projections of 9.3%. This was the weakest reading in two years as turbulence in global capital markets and slowdown in global demand clearly took their toll.
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• CAD/CHF Long Opportunity at 0.8684?
  Written by Bradley Gareiss
  Last updated 10/17/2011 8:46:31 PM ET
  A bullish Gartley pattern is forming on the CAD/CHF.
  0 comments