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November 2009 Blog Posts (195)

Cable

Here is the daily. If we close below 38% fib then there is more weight to the down side. This also takes out the lows.

Through 16395 there is strong resitance at 16270 which is clustered with the 50% fib level too. I will be looking for a short if we hold below this level. I will be looking on 4H and lower for more confirmation and entry.…

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Added by Chelski on November 30, 2009 at 7:36pm — No Comments

Intraday Market Thought from Ashraf Laidi 2009.11.30 13:05

GBP is the biggest loser in Monday trade, with falling UK lending prompting the damage. Lingering doubts over UK banks' exposure to the Dubai fallout remains a question mark. Dubai's statement that it will not guarantee Dubail World's $59 bln in debt was offset by positive comments from the major credit agencies. USDJPY remained confined at 87.00-85.80. Cable now capped at by new resistance at $1.6520. All eyes shall fall on the Aussie and the RBA decision due 3:30 am GMT. RBA preview coming up… Continue

Added by Aadil (site owner) on November 30, 2009 at 6:20pm — No Comments

Dollar's Reaction to Dubai, Chicago PMI and Canadian Data

The full brunt of U.S. traders are back in their offices and judging from the price action in the currency and equity markets, they are not entirely convinced that Dubai's problems will end up troubling the world. Yes, Dubai is a major global player but the British have much more to worry about than the Americans. Of the UAE's total cross border banking exposure, European banks hold 72 percent and 41 percent of that is with the U.K. U.S. and Japanese exposure only amounts to 9 and 7 percent of… Continue

Added by Aadil (site owner) on November 30, 2009 at 3:28pm — No Comments

FTSE 100 - key trend line if it break then 5248 , 5265 is next ???

Added by Aadil (site owner) on November 30, 2009 at 3:06pm — No Comments

FTSE 100 - update @ 13.57

Added by Aadil (site owner) on November 30, 2009 at 2:03pm — No Comments

FTSE_100_Index_Factsheet.pdf

FTSE_100_Index_Factsheet.pdf Continue

Added by Nasdiq on November 30, 2009 at 10:34am — No Comments

Intraday Market Thought from Ashraf Laidi 2009.11.30 05:25

The rift between Japans MoF and BoJ we mentioned in Friday's article is resurfacing as the finance ministry pressures the central bank on further easing monetary policy. The yen lost ground in early EU trading after Japan's strategy minister Kan says govt agrees on measures to stop the yen rise. But As European stocks extend into negative territory and FTSE-100 drops 50 pts, yen strength resurfaces across the board. USDJPY 4-hr stochastics suggest downside to call up 85.70, while 87.00 still… Continue

Added by Aadil (site owner) on November 30, 2009 at 10:29am — No Comments

Gold - breach of the channel

Added by Aadil (site owner) on November 30, 2009 at 9:58am — No Comments

Recovery or Risk Aversion Redux In FX This Week?

Last week while US traders prepared to sit down to a peaceful Thanksgiving meal, the currency market became embroiled in the Dubai debacle sending risk FX tumbling from its year to date highs. With weekend news suggesting that Abu Dhabi may step in to help out with some if not all of the Dubai World debt problem, risk assets have rallied with EUR/USD once again trading above the 1.5000 level.



However, although the turmoil I the Middle East markets appears to have been contained for… Continue

Added by Aadil (site owner) on November 30, 2009 at 9:04am — No Comments

U.K. Bank Loans Outstanding to U.A.E. Most in Europe

British banks are Europe’s biggest lenders to the United Arab Emirates, constituting $49.5 billion of the continent’s $87.3 billion loans outstanding to the Gulf state, Royal Bank of Scotland Group Plc said.



French banks have the second-largest amount of loans, $11.3 billion, followed by $10.2 billion for Germany’s banks and 4.7 billion for Dutch lenders, RBS said in a note today, saying it used Bank for International Settlements data.



The figures are for loans as of June… Continue

Added by Aadil (site owner) on November 30, 2009 at 12:21am — No Comments

UAE central bank sets up liquidity fund for banks in emirates

The central bank of the United Arab Emirates said it would provide a special fund to back local and international banks operating in the UAE, media reports said.



The UAE central bank said it stands behind those lenders, the reports say.



The central bank, based in the emirate of Abu Dhabi, said it had told the banks that it had set up a special liquidity facility at a rate of 0.5 percentage point above the Emirates interbank offered rate, media reports… Continue

Added by Aadil (site owner) on November 30, 2009 at 12:00am — No Comments

Crude Oil - divergence with the Dollar

WTI crude oil price plummeted to as low as 72.39 after Dubai's attempt to delay its debt repayments. Investors turned cautious as the news raised concerns on global economic recovery and hence improvement in energy demands. However, the black gold, as well as other risky assets, rebounded strongly and closed almost flat… Continue

Added by Aadil (site owner) on November 29, 2009 at 9:07pm — No Comments

Sovereign Risk May Break Inverse Correlation Between Gold and USD





Sri Lanka purchased 10 metric tons of the IMF's planned gold sales. According to the central bank's announcement released last Thursday, it has been acquiring Gold from the international market over the past several months 'as a part of the… Continue

Added by Aadil (site owner) on November 29, 2009 at 9:00pm — No Comments

Intraday Reversals Question Magnitude of Dubai Woes

News that a property development arm of Dubai World requested to delay its payments triggered sharp volatility across the financial markets. The story actually broke on the eve of November 25th and on the 26th , currency traders began to flock into the safety of U.S. dollars. The demand for dollars was so strong that the euro hit an intraday low of 1.4829 when the European markets opened. The price action in USD/JPY tells us that risk aversion was the primary driver of the forex markets as… Continue

Added by Aadil (site owner) on November 27, 2009 at 10:35pm — 3 Comments

Cable Daily

16395 is a key level on the Daily Chart. Subject to close we are forming a pin bar today. The tail bouncing off a lower resistance level. While there are plenty if other levels to look at on other timeframes, with the Weekly pointing down, this level will give us a clue for next week.

Added by Chelski on November 27, 2009 at 11:20am — No Comments

1m chart showing 200ma and Head and Shoulders

Added by Kaisen on November 27, 2009 at 9:52am — No Comments

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