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  • Over the past 24 hours, it has become increasingly clear that the bear market rally in currencies and equities is over. U.S. stocks plummeted close to 4 percent sending investors back into the safety of the U.S. dollar and Japanese Yen. Renewed concerns about the U.S. economy was the primary catalyst for the risk aversion but repatriation also added to the upside pressure in the two lowest yielding currencies. With 24 hours to go before the end of the quarter for most U.S. companies and the end of the fiscal year for the Japanese, repatriation has been particularly strong as companies bring money home to window dress their balance sheets. The U.S. dollar strengthened against every major currency except for the Japanese Yen.
  • Capital flight has driven the US dollar higher. On a day when President Obama signed the Economic Stimulus Package into law, the banking turmoil in Europe and the resignation of Japan’s Finance Minister has turned investors away from other major currencies. Even though the greenback is yielding next to nothing, investors are willing to park their money with the US government as long as they keep it safe. The lack of negative game changing news from the US has been very positive for the US dollar. The greenback and gold prices have been moving in tandem since January 14th. This unusual correlation is actually sending a strong message to currency traders.
  • gbpaud-may-provide-excellent-sell-opportunity
    Major resistance near 2.2730 may provide an ideal selling opportunity...
  • bears-beware-usdjpy-looking-strong-on-solid-technical’s
    The USD/JPY is shaping up to be the trade of the Q1...
  • With no US economic data on the calendar today, the dollar weakened against every major currency except for the British pound. Trading continues to be very thin with commodities being the only products that are really moving. The tensions in the Middle East have driven oil and gold prices higher. US stocks also gave back Friday’s gains and remained contained within its week long trading range.

TRADE RECOMMENDATIONS

  • Trades to Watch
  • Trades in Progress
currency recommendation
GBP/AUD
Medium term



Sell Sell at 1.6759
Stop at 1.6837
Target at 1.6641
NZD/CAD
Medium term



Sell Sell at .7320
Stop at 0.7363
Target at 0.7255
currency recommendation
GBP/JPY
Short term
Opened 3/17/2010
Sell Short from 139.1200
Stop at 139.12
Target at 137.51
GBP/JPY
Medium term
Opened 3/11/2010
Sell Short from 139.2700
Stop at 140.39
Target at 137.58
NZD/USD
Medium term
Opened 2/26/2010
Sell Short from 0.7141
Stop at 0.7205
Target at 0.7055

QUOTEBOARD

  • Key Quotes
  • Currencies
  • Markets
  •  
  • current
  • high
  • low
 
  • EUR/USD
  • down
  • 1.3734
  • 1.3817
  • 1.3726
EUR/USD
5 min chart
  • GBP/USD
  • up
  • 1.5321
  • 1.5380
  • 1.5208
GBP/USD
5 min chart
  • USD/JPY
  • up
  • 90.41
  • 90.70
  • 90.03
USD/JPY
5 min chart
  • OIL
  • up
  • 82.71
  • 83.05
  • 81.71
CLJ0
5 min chart
  • GOLD
  • down
  • 1122.4
  • 1133.4
  • 1118.0
.GOLD
5 min chart
  • US Stocks
  • up
  • 10734
  • 10767
  • 10679
.US30
5 min chart
  • UK Stocks
  • up
  • 5641.5
  • 5658.3
  • 5622.0
.UK100
5 min chart
  • DEM Stocks
  • up
  • 6030.6
  • 6036.3
  • 5972.2
.DE30
5 min chart
  • JP Stocks
  • up
  • 10837
  • 10858
  • 10753
.JP225
5 min chart
  •  
  • current
  • high
  • low
 
  • EUR/USD
  • down
  • 1.3734
  • 1.3817
  • 1.3726
5 min chart
  • GBP/USD
  • up
  • 1.5321
  • 1.5380
  • 1.5208
  • USD/JPY
  • up
  • 90.41
  • 90.70
  • 90.03
  • USD/CHF
  • up
  • 1.0541
  • 1.0564
  • 1.0506
  • USD/CAD
  • down
  • 1.0103
  • 1.0142
  • 1.0069
  • AUD/USD
  • down
  • 0.9230
  • 0.9251
  • 0.9173
  • NZD/USD
  • down
  • 0.7135
  • 0.7178
  • 0.7101
  • USD/MXN
  • up
  • 12.4509
  • 12.5162
  • 12.4329
  • EUR/JPY
  • up
  • 124.18
  • 125.06
  • 123.91
  • GBP/JPY
  • up
  • 138.53
  • 139.34
  • 137.10
  •  
  • current
  • high
  • low
 
  • OIL
  • up
  • 82.71
  • 83.05
  • 81.71
5 min chart
  • GOLD
  • down
  • 1122.4
  • 1133.4
  • 1118.0
5 min chart
  • SILVER
  • down
  • 17.479
  • 17.575
  • 17.345
5 min chart
  • US500
  • down
  • 1166.9
  • 1169.6
  • 1158.9
5 min chart
  • UK Stocks
  • up
  • 5641.5
  • 5658.3
  • 5622.0
5 min chart
  • DEM Stocks
  • up
  • 6030.6
  • 6036.3
  • 5972.2
5 min chart
  • JP Stocks
  • up
  • 10837
  • 10858
  • 10753
5 min chart
  • AU Stocks
  • up
  • 4861.5
  • 4883.0
  • 4819.0
5 min chart
Data source: GFT

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