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COMMENTARY

• Beggars Can't be Choosers - Weaker Data, Greece and MF Global Killing Risk
  Written by Kathy Lien
  Last updated 11/1/2011 10:05:32 AM ET
  Beggars can't be choosers and the fact that Greece even thinks they have a choice in accepting the EU debt deal is beyond logic. For the past month, European leaders took on the hard challenge of crafting a broad rescue plan for
  1 comment
• Euro Drops to 1.3700 as Risk Under Assault From All Angles
  Written by Boris Schlossberg
  Last updated 11/1/2011 6:16:07 AM ET
  Risk aversion dominated currency trade in Asian and early European session today as a plethora of issues weighed on investor’s minds. The news was bad on every front with economic data missing expectations, monetary policy becoming more accommodative and event risk raising the prospect of uncertainty. EUR/USD dropped below the 1.3700 level before finally finding some bids while Aussie drifted to 1.0350.
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• Aussie Suffers as RBA Cuts Benchmark Rate
  Written by Boris Schlossberg
  Last updated 11/1/2011 3:45:58 AM ET
  As expected the Reserve Bank of Australia lowered its benchmark rate by 25bp to 4.5% noting that, “recent information is consistent with a moderation in the pace of global growth, though fears of a major downturn have not been borne out so far. “ The RBA noted that inflation, while still above target is likely to decline as weather effects of last summer begin to recede with more crops coming on to the market while labor costs will ease as well as employment growth cools. As a result, the RBA expects inflation to be consistent with 2-3% growth in 2012 and 2013.
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• GBP/CAD Short Opportunity at 1.6151
  Written by Bradley Gareiss
  Last updated 10/31/2011 6:47:02 PM ET
  A bearish Gartley pattern is forming on the GBP/CAD.
  6 comments
• FX: A Spooky Day in the Market
  Written by Kathy Lien
  Last updated 10/31/2011 5:27:12 PM ET
  It has been a spooky day in the financial markets. Aside from the Bank of Japan’s intervention induced rally in the Japanese Yen crosses, all of the major
  1 comment
• Why USD/JPY Peg is Unlikely and Fade vs Trade Intervention
  Written by Kathy Lien
  Last updated 10/31/2011 10:12:12 AM ET
  Even though the media has been focused on the unresolved issues in Europe, the big story in the currency market this morning is Japanese intervention. For
  1 comment
• Can BOJ Intervention in USD/JPY Succeed?
  Written by Boris Schlossberg
  Last updated 10/31/2011 5:40:03 AM ET
  After weeks of jawboning and warnings the BOJ finally intervened in the currency markets tonight sending USD/JPY higher by more than 300 points in matter of minutes after the pair came dangerously close to breaching the key 75.00 barrier at the start of Asian trade. Over the past month USD/JPY has been in an unrelenting one way downtrend ignoring any and all fundamental news and decoupling from the trend in 3M Libor rates that favored a dollar rally.
  1 comment
• Why This Time BOJ Intervention May Work
  Written by Boris Schlossberg
  Last updated 10/30/2011 10:30:48 PM ET
  After weeks of warnings and jawboning Japan finally intervened in the currency market tonight sending USD/JPY soaring by more than 300 points in matter of 30 minutes. Finance Minister Jun Azumi has repeatedly said that Tokyo would take "decisive steps" when necessary against the strong yen. "I have said many times, if forex moves do not reflect the economic fundamentals and speculative moves last, Japan will take firm measures," he told reporters earlier in the day.
  4 comments
• Creating a trading plan
  Written by Bradley Gareiss
  Last updated 10/28/2011 8:02:58 PM ET
  We will go over the basic steps and requirement for creating a complete trading plan.
  4 comments
• FX: Why Trading Will Remain Interesting
  Written by Kathy Lien
  Last updated 10/28/2011 5:19:58 PM ET
  It has been a very exciting week in the financial markets and one that has been filled with volatility. Europe’s rescue plan helped to resolve some near term uncertainties but even as currencies and equities consolidated today, don’t expect volatility to recede anytime soon.
  0 comments
• Currencies Consolidate, US Data Does Not Eliminate Risk of QE3
  Written by Kathy Lien
  Last updated 10/28/2011 9:59:25 AM ET
  After a powerful day in the financial markets and a week of unusually high volatility, all of the major currency pairs are trading slightly lower this morning. Weaker economic data out of Europe and the
  1 comment
• Euro Consolidates; Why Has USD/JPY Not Rallied?
  Written by Boris Schlossberg
  Last updated 10/28/2011 5:27:38 AM ET
  A very quiet night on the currency market as consolidation is the theme of the day in the wake of more than 200 point post EU Summit rally in the EUR/USD yesterday. Focus now turns to China with the head of the EFSF now in Asia in order to solicit capital for the fund. There was some speculation that the Chinese may demand a political quid pro quo, in return for investment by asking the Europeans to refrain from criticizing their currency policy.
  0 comments
• French Consumer Spending Weighs on Euro
  Written by Boris Schlossberg
  Last updated 10/28/2011 3:42:15 AM ET
  French consumer spending surprised to the downside as demand fell unexpectedly in September. Households in Eurozone second largest economy spent -0.5% less in September than in August versus expectations of 0.1% rise. On a year over basis consumer spending contracted by -1.3%.
  0 comments
• EUR/CHF to Face Resistance at 1.2314?
  Written by Bradley Gareiss
  Last updated 10/27/2011 6:49:30 PM ET
  A bearish Gartley pattern is forming on the EUR/CHF.
  0 comments
• How Much Further Can EUR Rise?
  Written by Kathy Lien
  Last updated 10/27/2011 3:55:12 PM ET
  The euro took out all of its near term resistance levels to rise to a high of 1.4247against the U.S. dollar on the heels of the EU’s debt deal. The fact that the discussions on bank recapitalization/Greek haircut and EFSF leverage have not been delayed any further was received with strong enthusiasm.
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