|
Trader's Tip
|
I know that you think you know what I said. But I'm not sure whether you understood that what you heard is what I meant.
- Alan Greenspan |
|
Quotes & Charts
Quote Search:
Market Specific Links:
Indices/Minis
Grains
Currencies/Forex
Financials
Food/Fiber/Softs
Metals
Energy
Meats
|
Special Message from Our Author
$10,000. Winner Takes All
Think you can trade? Prove it. Arc Capital Management is giving away $10,000 to a single winner in the Tournament of Champions, futures edition. Arc Capital Management is an Independent Introducing Broker providing institutional clients, professional traders and financial investors with the means to help you achieve your goals. Go here for details. |
|
Today's Featured Article
Traders and newswires continued to trash the greenback this week and rightfully so. December retail sales missed market expectations and more importantly, pricing models show little to worry about in the near future for inflation. There’s no doubt that a rate cut is in the cards. But how much is not. This week the dollar did manage to trade higher against the currencies most likely to see problems from what was originally seen as a US problem, credit woes.
Even with the major newswires broadcasting the end of the dollar’s reign, our greenback has traded higher against the loonie and is nearing 9800 in the futures market. The same goes for the cable. Cable futures finally found support near 1.9500 before bouncing back. |
|
|
A Word from a Fast Break Sponsor
Advertise With Us
Best Ways to Maximize Increased Market Volatility
Is this included in your trading plan? Are you making this common trading mistake? Sharing knowledge and experience through a continuing series of COMPLIMENTARY trading videos from tradethemarkets.com. Infinity Futures, an independant brokerage and investment firm, has been providing customers from around the world access to the global derivatives markets. Sign Up Now! |
|
|
March Canadian Dollar
If you cannot view the March Canadian Dollar chart, go here.
The yen traded near recent contract highs around .9400 and the euro touched its recent high around 1.4900. Flight to quality has been and will remain evident in the coming week. The US credit scare will probably be a bigger problem for the economies of Canada and Britain in the next few months and besides technical support near 1.9500 in the pound and .9800 in the Canadian there looks to be little to stop the current trend in the short-term. |
|
The Japanese yen was the currency of choice this week and could remain a safe haven next week for hedgers and speculators alike. The only noticeable buyers of the dollar vs. yen were Japanese funds hedging recent gains. Activity in the US and Japanese bond markets are indications that the sentiment will continue to be positive for the yen in the coming days and sudden drops may be additional signs of profit taking or unwinding but not necessarily a change is sentiment.
March Japanese Yen
If you cannot view the March Japanese Yen chart, go here.
The aussie, kiwi, peso and Thai baht remained mostly in check against the US dollar this week and it looks like congestion will continue for the next week. As a reminder, a US holiday coming up should decrease volume levels on the exchanges keeping some traders away.
TRIVIA:
Q: Why do we refer to the British Pound as the cable?
A: In the 1800’s, British pound / US dollar transaction were conducted via the transatlantic cable. This led to the nick names of ‘cable’ which is still used by traders today. |
|
About the Author
|
Steven Petillo has been in the futures and forex industry since the early 90's when he worked on the floor at the Chicago Board of Trade. Since then he has been the senior analyst and research director for FCMs and investment firms as well as a regular contributor to a number of different media and think tank institutions.
Mr. Petillo is now the president of Arc Capital Management, a brokerage firm dealing in futures, the foreign exchange markets and OTC markets with offices in Chicago and throughout Texas. |
|
Special Message from Our Author
$10,000. Winner Takes All
Think you can trade? Prove it. Arc Capital Management is giving away $10,000 to a single winner in the Tournament of Champions, futures edition. Arc Capital Management is an Independent Introducing Broker providing institutional clients, professional traders and financial investors with the means to help you achieve your goals. Go here for details. |
|
|
