ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Earlier in the day, I tweeted: Finally time to short $USDCAD. At 50DMA and a 2-week post-QE3 relief rally seems “long enough” For two weeks since the Federal Reserve announced QE3, the dollar index has had a nice relief rally. Notice that the dollar index has hit its first test at the 20-day moving average … Read more
This is an excerpt from an article I originally published on Seeking Alpha on November 27, 2011. Click here to read the entire piece.) The Conference Board of Canada anticipates stronger growth in Canada over the next two years. The sovereign debt crisis in Europe represents the most significant downside risk to this forecast: {snip} … Read more
Currency traders appeared very disappointed that the Bank of Canada left interest rates unchanged on Tuesday. The Canadian dollar (“loonie”) immediately bounced sharply from near three-year highs against the U.S. dollar, and the USD/CAD eventually popped over parity (1.0) for the first time in two weeks on Thursday. The accompanying statement suggested that the Bank … Read more