February 2nd, 2009 23:45:29 GMT

Technical Overview: USD/JPY

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This pair is in a longer term down trend but there is a possible double-bottom interim base in place at 87.10. The shorter term trend is also down after a top was formed at 90.75 and we are now in … Continue reading

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February 2nd, 2009 23:09:53 GMT

Bank dealers setting short Cross/JPY positions

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This normally gives a good indication of what order books look like. Interbank dealers have been selling EUR/JPY and AUD/JPY this morning, setting themselves up for what might be a busy day. There is much speculation on what Japanese investment … Continue reading

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February 2nd, 2009 22:36:02 GMT

Brain training

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Here is an interesting piece from the NY Times on the ‘Bad Bank’ plan and the inherent difficulty in objectively valuing toxic assets. (You may think my bonds stink of manure but I think they smell of roses!).

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February 2nd, 2009 21:36:07 GMT

Australia jumps on the stimulus bandwagon

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Treasurer Swan says Australia will announce a national building and jobs plan later today and that the package will contain tax cuts.  Details will be released later today, Swan  said. Combined with an expected RBA rate cut today, Asian equity … Continue reading

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February 2nd, 2009 21:00:59 GMT

ISM set stage for rebound

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ISM rises to 35.6 in January from 32.9 in December. First rise since June 2008. Personal spending falls 1.0%, personal income down 0.2%; Savings rate rises to 3.6%. US construction spending down 1.4% in December EU’s Almunia expects UK to … Continue reading

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February 2nd, 2009 20:48:50 GMT

More Chrysler buyouts

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Chrysler is still trying to buyout significant numbers of its workers, offering $50,000 and cash plus a $25,000 voucher toward a new car. Unfortunately, you still have to take a Chrysler.

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February 2nd, 2009 20:32:18 GMT

Japanese scooping up USD/JPY at 89.50

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The beauty of having sell orders at 90.00 from customers is that you can “bravely” sell boatloads of dollars against your order book and use your orders as a natural stop-loss. If you get lucky, like today, you can scoop … Continue reading

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