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The FOMC did nothing as expected. Really not much they can do but sit by and watch the destruction happen and wonder why. As if they were not the cause. The reason we are in this mess is simple. The devaluation of the Dollar is the culprit. Never in the history of recorded time has…
This week we are looking squarely at the summer doldrums. Markets are drifting more than anything else. We do not expect any abrupt change interest rate policy out of any major Central Bank anytime soon, so we do feel that many markets are currently a bit out of step with that idea. That presents us…
What a difference a week makes….. We saw the Dollar fall back to retest support. So far it has held but the real question is will it continue to hold. We see more reasons for it not to hold than for it to hold so at best we remain cautious. If the Dollar does break…
O&F FOREX News & ViewsBy: Head Trader, Derek Frey June 9, 2008 Quick Links Register Now Related Topics About the Author General Market Comments: This week we continue with a full schedule of upcoming data announcements. We have both BoJ and BoC meetings this week. Both are expected to fall in line with the other major…
This week we have a virtual tsunami of data coming out. We have 4 major central bank interest rate decisions starting on Tuesday with the RBA. Then on Wednesday we have the RBNZ, followed by both the ECB and BOE on Thursday. We end the week with Friday’s NFP report here in the US so…
Commodities are trying to hold onto the gains they have had as you can see in the CRB index. The CRB is building a bull flag on the daily charts. However, we do not see immediate upside follow through any time soon. We remain biased to expecting a pullback in commodities in the near term. …
General Market Comments: This week we have little in the way of major reports. The Dollar is trying to hold onto its bid but we see signs that the Dollar may pullback to retest prior lows in the near term. In a macro sense the Dollar continues to put in a bottom but on a…
This week we have a number of important reports coming out. CPI, being one of the key reports coming out. We expect CPI will show more inflationary pressures building. We also have a week full of Fed. speakers. We expect they will try to jawbone the Dollar higher by commenting on inflation. Look for any…
Commodities continue to try and hold these high levels but as a whole we see more and more cracks in the armor. With the exception of Crude Oil and Rice, most other major commodities are already well off of their highs. We continue to see a consolidation taking shape over the coming months and perhaps…
This week we have very few reports coming out so we should see a week with little to no trending action. We expect most of these markets to remain range bound throughout the week. Friday morning we have a few reports out that could give us some directional bias going into next week but again…
This week remains critical for the commodity complex. Commodities have seen incredible grown over the last 6 years or so and we continue to see signs that the bull is at the very least tired if not exhausted. We are using any remaining rallies to exit the few remaining longs we have and at the…
General Comments: Commodities have been trying to extend the rally we have seen but besides Crude Oil, most commodities are quite a bit below their highs. We are looking for a consolidation range to become the new near term norm. We are expecting a lot of two sided chop with little to no directional bias…