AUTOREFRESH 
No news is good news for the “risk” trade
The steady-as-she-goes policy from the Fed is underpinning stocks and commodities and giving a lift to the risk trades in general. AUD/USD is trying to establish a beachhead above the 0.9070 level and USD/CAD is getting comfortable below 1.0150. Cable is looking for a close above the former resistance at 1.5217 while EUR/USD has broken its downtrend and is chipping away at sellers stacked through the 1.3800 level.
Forex traders have a short attention span, so now that Greece has been taken off credit watch, the focus may shift to the US for a while. Lord knows there are enough US economic warts to exploit should the market turn its fire on the greenback.
An expensive new health care entitlement and an “infrastructure bank” announced today are just two new programs the government wants to adds despite $1trln deficits seen for the next decade or more.
A close above 1.3800 would go a long way toward swinging momentum against the dollar in the near-term, purely out of boredom, in my view…
Concerning the interest rate decision in japan
the calendar says “tentative” what’s the routine when can we expect it?
hello Jamie, what’s hell going on this market, can we say bye bye to short-term on EUR and GBP or what ?
Iron Ore talks…China Govt responding for the cry for help maybe..http://www.bloomberg.com/apps/news?pid=20601081&sid=aI39Zx_Twa7Q
FYI: Major barrier protection going on in Euro and Aussie. Expect this to continue through the next trading sessions…
I assume the barrier protection you speak of is the offers stacked up at the 1.3800
Yes, 1.38 and .92 in the Aussie.
Hi, how does one know where the offers are stacked up? thanks!
Yesterday’s contrast to Friday, aside from being uncharacteristically not quiet for a Monday, looked like re-positioning to me.
My simplistic view is that fiber and cable ‘held back’ all day out of deference to the FOMC.
I’ve been trying to find 50 ways to leave pessimism behind, making an early start today with UK news and data
Fwiw I am seeing the fiber trendline slightly differently here.
Can’t explain the chart difference, but mine tell me fiber closed clear above that line on Friday, and snuggled up right under it yesterday.
1.37 has been an important level going back to the end of 2004, and 1.3745 is the 38.2 fibo of the 1.60 to 1.23 drop.
Don’t agree this time, Jamie, on dollar direction. Nothing has changed. The US will raise rates before long. EZ is struggling badly and won’t. UK will have to slash deficit and go back into recession. I would see the dollar’s little retreat as an opportunity.
Before long? Define before long…Not before Q4 at the earliest, if we are to believe Dudley, Evans and company who tell us “extended period” means at least six months…They Fed has told us exactly what they are going to do, and then they do it…
Fed’s move depends on growth, jobs and inflation. I would expect them all to be firm and force the Fed’s hand before the 4th quarter. But say it is in the fourth quarter. It’s still long before the ECB will do anything. The big difference between US and EZ is growth. YOu have it. We don’t. The zone is hardly growing and I don’t expect it to pick up. Half the zone is uncompetitive and close to fiscal crisis. The ECB expects inflation below its 2% target this year and next. And the UK…the worst among major economies, according to Prof Buiter, and he’s right. I could say much more. But I think what Americans don’t appreciate is that though their position is poor, that of Europe is a lot worse