We are Short JPY
22/11/10 08:07
Ashraf Laidi will Join Chris
Lori at 3 Day London Workshop
Jan 21-23
Friday Jan 21: 9am-5pm
Saturday Jan 22: 9am-5pm
Sunday Jan 23: 9am-5pm (Ashraf Laidi from 1:30pm – 5pm)
This workshop is contingent upon demand. You must show your interest with a $300 USD deposit before Dec 20. If there is not enough interest, the event will be canceled and your deposit will be refunded. If we proceed with the event, the balance of payment will be required.
Other events:
Chris Lori Open Webinar
“Interest Rate Spreads and FX”
Tuesday Nov 23 9pm EST (New York Time)
Register Here: https://www2.gotomeeting.com/register/565735387
Ft Lauderdale Workshop – only USA event in 2011
Feb 18-20
Singapore Workshop
Mar 4-6
We are short JPY against a basket
Irish Prime Minister Cowen announced on Sunday that Ireland has formally requested financial assistance from the EU/IMF. The euro clearly benefited from the news during the Asia session, and the dollar in particular weakened steadily against both the euro and the AUD. On Friday, the S&P 500 finished +0.7% higher, despite another 50bp hike to China's reserve requirement ratio. ECB President Trichet said that a strong dollar relative to the other floating currencies is very important. New York Fed Executive Vice President Checki said that recent dollar weakness is a side-effect, rather than a goal of the Fed's policy. He forecast that as US growth strengthens, the dollar should strengthen accordingly. US Treasury Secretary Geithner implied he would not support any attempt to change the Fed's dual mandate so that it focuses exclusively on inflation. He said the existing dual mandate has "served the country well over time". Minneapolis Fed President Kocherlakota, who is due to become an FOMC voter in January, is scheduled to speak later today. Last week, for the first time, Kocherlakota publicly expressed his support for the Fed's latest round of quantitative easing. Read More...
Jan 21-23
Friday Jan 21: 9am-5pm
Saturday Jan 22: 9am-5pm
Sunday Jan 23: 9am-5pm (Ashraf Laidi from 1:30pm – 5pm)
This workshop is contingent upon demand. You must show your interest with a $300 USD deposit before Dec 20. If there is not enough interest, the event will be canceled and your deposit will be refunded. If we proceed with the event, the balance of payment will be required.
Other events:
Chris Lori Open Webinar
“Interest Rate Spreads and FX”
Tuesday Nov 23 9pm EST (New York Time)
Register Here: https://www2.gotomeeting.com/register/565735387
Ft Lauderdale Workshop – only USA event in 2011
Feb 18-20
Singapore Workshop
Mar 4-6
We are short JPY against a basket
Irish Prime Minister Cowen announced on Sunday that Ireland has formally requested financial assistance from the EU/IMF. The euro clearly benefited from the news during the Asia session, and the dollar in particular weakened steadily against both the euro and the AUD. On Friday, the S&P 500 finished +0.7% higher, despite another 50bp hike to China's reserve requirement ratio. ECB President Trichet said that a strong dollar relative to the other floating currencies is very important. New York Fed Executive Vice President Checki said that recent dollar weakness is a side-effect, rather than a goal of the Fed's policy. He forecast that as US growth strengthens, the dollar should strengthen accordingly. US Treasury Secretary Geithner implied he would not support any attempt to change the Fed's dual mandate so that it focuses exclusively on inflation. He said the existing dual mandate has "served the country well over time". Minneapolis Fed President Kocherlakota, who is due to become an FOMC voter in January, is scheduled to speak later today. Last week, for the first time, Kocherlakota publicly expressed his support for the Fed's latest round of quantitative easing. Read More...
Caution of Further Weakness in Indices and AUD crosses
15/11/10 08:01
Precious metals sold off sharply on Friday after the
accelerating uptrend of the past few weeks had
already lost some momentum on Thursday. The more
cyclical and risk sensitive silver and palladium
markets were most affected and lost 5%+. The two main
factors behind the sell off were 1) there have been
strong investment inflows during the run up to Gold
1400 and Silver 30USD funds are taking profit, 2) US
bond yields have increased over the last few days and
there are mounting concerns that China might hike
rates. We have been watching the US Yields and USD
correlations in Pro Traders Club as yield spreads
support USD. In my view, US bond yields have been a
key driver behind the latest metals rally, so the
market is now reacting very sensitively to current
interest rate movements, which helps us discern
positions (more in Pro Traders Club).
We are seeing technical signs of weakness in DAX, CAC40, S&P and DJIA and are positioned for further weakness in the major indices.
The number of Pro Traders Club members that have become full time traders is continuing to increase. We will have more guest speakers in the near future. Don't forget to check out our workshop page for London, Ft Lauderdale and Singapore events.
FX markets tred water during the Asia session as investors looked to the opening of the Eurozone sovereign debt markets to provide some direction. Speculation continues in the press that a bailout of Ireland could come as soon as this week, although Irish government officials have strenuously denied this, and IMF Managing Director Strauss-Kahn also dismissed the suggestions. The S&P500 finished down -1.2% on Friday, after global equities succumbed to the general risk-off mood. UBS economists note that the rise reflected improvement in both current conditions and expectations. Long-term inflation expectations in the survey were unchanged at 2.8% - right in the middle of their longer-term range. The New York Fed began its first purchases of US Treasury securities under the Fed's latest round of quantitative easing. Richmond Fed President Lacker said it is "unfair" to claim that the Fed's decision to return to quantitative easing was designed to weaken the dollar and, of course, we doubt the thought crossed their mind. Read More...
We are seeing technical signs of weakness in DAX, CAC40, S&P and DJIA and are positioned for further weakness in the major indices.
The number of Pro Traders Club members that have become full time traders is continuing to increase. We will have more guest speakers in the near future. Don't forget to check out our workshop page for London, Ft Lauderdale and Singapore events.
FX markets tred water during the Asia session as investors looked to the opening of the Eurozone sovereign debt markets to provide some direction. Speculation continues in the press that a bailout of Ireland could come as soon as this week, although Irish government officials have strenuously denied this, and IMF Managing Director Strauss-Kahn also dismissed the suggestions. The S&P500 finished down -1.2% on Friday, after global equities succumbed to the general risk-off mood. UBS economists note that the rise reflected improvement in both current conditions and expectations. Long-term inflation expectations in the survey were unchanged at 2.8% - right in the middle of their longer-term range. The New York Fed began its first purchases of US Treasury securities under the Fed's latest round of quantitative easing. Richmond Fed President Lacker said it is "unfair" to claim that the Fed's decision to return to quantitative easing was designed to weaken the dollar and, of course, we doubt the thought crossed their mind. Read More...
Possible continuation for "risk on"
01/11/10 09:13
Hello Traders;
We are overdue to touch base with our loyal members and apologize for the lengthy periods between updates. My attention has been consumed with trading, leaving little time for educational updates in the past couple weeks.
To start, we have a few announcements: Forex Education
2011 Workshops… We will post details shortly. Please email us if you are interested in any of the workshops.
London - Jan 21-23 – This is a tentative event. We will request a refundable $300 down payment and by Dec 20 to determine if we have enough interest to host the event. If the event is canceled, your down payment is returned.
Ft Lauderdale, FL – Feb 18-20
Singapore – March 4-6
Remember.. The workshops are a highly intensive complete program. In addition to the live 2.5 days workshop, the program includes online pre course preparation access to The Complete FX Course, Inside the Banks fundamentals course and limited time post event access to Pro Traders Club.
Perth, WA – if you are in Perth, WA, we would like to have a small traders gathering at a coffee shop in the next couple weeks. Please let us know if you’re in the area.
Forex Notes:
We are unwilling to offer directional bias early this week due to the barrage of events this week, including FOMC, Elections, MPC, ECB and NFP, which could cause a shift in the tide of the financial markets. There remains the likelihood of a continuation for ‘risk on’ across the asset classes. The primary impact and outcomes to look for are the magnitude of QE and the election results. A less than expected QE program strike some USD short covering as asset classes adjust valuations. Should the Republicans win the midterms, we could see an initial USD rally, but follow through would remain in question. Read More...
We are overdue to touch base with our loyal members and apologize for the lengthy periods between updates. My attention has been consumed with trading, leaving little time for educational updates in the past couple weeks.
To start, we have a few announcements: Forex Education
2011 Workshops… We will post details shortly. Please email us if you are interested in any of the workshops.
London - Jan 21-23 – This is a tentative event. We will request a refundable $300 down payment and by Dec 20 to determine if we have enough interest to host the event. If the event is canceled, your down payment is returned.
Ft Lauderdale, FL – Feb 18-20
Singapore – March 4-6
Remember.. The workshops are a highly intensive complete program. In addition to the live 2.5 days workshop, the program includes online pre course preparation access to The Complete FX Course, Inside the Banks fundamentals course and limited time post event access to Pro Traders Club.
Perth, WA – if you are in Perth, WA, we would like to have a small traders gathering at a coffee shop in the next couple weeks. Please let us know if you’re in the area.
Forex Notes:
We are unwilling to offer directional bias early this week due to the barrage of events this week, including FOMC, Elections, MPC, ECB and NFP, which could cause a shift in the tide of the financial markets. There remains the likelihood of a continuation for ‘risk on’ across the asset classes. The primary impact and outcomes to look for are the magnitude of QE and the election results. A less than expected QE program strike some USD short covering as asset classes adjust valuations. Should the Republicans win the midterms, we could see an initial USD rally, but follow through would remain in question. Read More...