After the usual Monday morning toing-and-froing, most pairs have settled back close to their NY closing levels. The big US football game is on soon and I think the majority of regional trading rooms will be paying more attention to that than to the machinations of EUR/JPY. Saints to win, 34-31.
9 Responses to “Superbowl Monday is usually quiet”
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AUTOREFRESH 
Great prediction! Let’s hope you’re right, for the city of New Orleans’ sake. That would (I mean will) be really good for the city.
Excuse me saying, Sean, but I don’t think you could be more wrong on the pound. The UK is Greece writ large. 13% of GDP deficit. Almost no growth. Weak govt. Election coming up. Frightened investors. People are going to flock to the dollar now and cable will get hit hard.
Excellent call…
Looks like we got ourselves a market. If the market is wrongly positioned the fundamentals will mean nothing. The market has been selling the pound against something for well over 18 months. I know it’s a piece of t….t paper but the bounce will be nasty. If it goes 153 offered, then I bow to your superior wisdom but until then, I’ll take on the market.
The pound may well bounce … if for no other reason than as an alternative to the EUR, which will continue to see downward pressure, due to new skeletons leaving the closet. At least sterling’s are well known. I think the bigger bounce will be in GBPJPY, along with the USDJPY. And, Japan has yet to come under any real scrutiny, and boy, talk about skeletons…
re: sovereign risk, credit default spreads, and divergent perceptions-
http://www.minyanville.com/businessmarkets/articles/Kostohryz-default-CDS-BRIC-gold-gdp/2/5/2010/id/26723
I venture this: If Saints win Euro goes up, If Colts win Dollar goes up…
Looks like we should be getting long the dollar dcoios??
looks like it!