Currently viewing the tag: "debt ceiling"
Entered USD/JPY short at 79.21 on July 4. Added July 21 at 78.49. Exited July 25 at 1.0627 (+120 pips) and July 27 (+42 pips). Result: +168 pips.
Entered with stop at 79.56 (35 pips). Greatest open loss: zero pips Greatest open gain: ~200 pips
I entered this trade on my expectations of problems with [...]
Our base case is for a bounce in stocks and USD after a debt ceiling deal is reached. We see a 90% probability of a deal before markets open on Monday and we will continue to trade in that direction.
Our trades were working for us until late in the session Thursday when sentiment worsened [...]
Not long ago, Geithner was pronouncing the US would never lose its top rating but now the market is in the process of pricing in a downgrade. The S&P 500 fell 2% to 1305 on Wednesday and is the process of putting in its worst weekly performance in almost a year. The consensus is that the [...]
The US dollar didn’t get the walloping some expected (or would like) on Monday despite slow progress in debt ceiling talks. The one exception was the Swiss franc which shot higher across the board on risk aversion.
Two debt ceiling plans were unveiled on Monday: 1) Senate Democrats proposed $2.7 trillion in savings over 10 years with [...]
Many commentators and strategists are fascinated by politics. They over-evaluate decisions that will never make a pip of difference in the forex market. I steer clear of this sort of self-indulgent political pontificating because so often it morphs into a platform for whatever the strategists believes rather than what’s important to the market. At other [...]
The euro surged on news that the European bailout fund will be given the power to buy periphery debt in the secondary market. We think this is a wise move by European leaders. It will chase out shorts in the bond market and spook CDS buyers. We anticipate buying to be unannounced (unlike the Fed’s [...]
My initial impressions on news that Obama and the Senate have agreed to a framework on the debt ceiling are here: http://ashraflaidi.com/forex-news/
As a trader, I want to use the positive sentiment that has built up here to sell USD/JPY. The pair is trading at 79.21 and that will be my entry point. [...]
Live EUR/USD Chart
