AUTOREFRESH 
US rejects China currency trade case
By Jamie Coleman || August 31, 2010 at 16:50 GMT
|| 36 comments || Add comment
Reuters reports that the US Commerce Department has turned down a currency probe related to a trade case brought by US aluminum manufacturers against China.
That should anger many in Congress who have been pushing the Obama administration to more aggressively go after China for currency manipulation.
[Rant on]: China’s trade policy towards the us is creating greater imbalances. Beyond keeping their currency artificially weak, they are stealing intellectual property, attacking computers and stealing code, and stealing military technology. Perhaps they are not trying to bankrupt us, but that is the net effect of current dynamics. The elite class is delusional and thinks it is going to make a lot of money in China- so they’ve sold out America to invest in China. When they get burned – and they will – then China will be ‘evil’ and we’ll finally have real talk about rationalizing trade relations with China. ‘Til then, China gets to grow at 10% and we get 10% unemployment- the 10/10 solution. No other country on earth would be on the receiving end of a deal like that. China is managing its trade with us to maximize their interests. And despite lawyers, lobbyists, cayman shell co’s and a raft of other friction/bs in our economy, we claim that free markets will restore ‘balance’ to our relations with China. When the richest 1% care as much about the national accounts as they care about their own, then we’ll get this mess fixed. Animals. (BTW, congress isn’t daft, just bought and sold. Front men who pimp for thieves. 40 years ago Nixon called bs and imposed a 10% tariff on artificially cheap goods. The problem is even worse now- and if congress doesn’t threaten 20% tariffs – and get results – then they are, imo, either cowards or traitors.)
I have to agree with you JR.
The issue is a lot more complicated than that. It ‘s easy to blame China for whatever problems we have here. I don’t think Obama and the team are dumb asses, neither did Bush and team. They got to be a lot smarter than you.
Let’s see: you didn’t address any of the arguments but you attacked the person making the argument. Douche.
Wow Gerry is right there has been something burst into the atmosphere. He has a power.
hey annie, how’s your trading world- you still in the aud/cad? interesting 6mo chart there. should be decent reward/risk shorting from .949 with a tight stop…
Hi Jr No I got stopped out -60 pips and made 80 pips on my long usd/jpy. Pretty much my broker has made more on my trades than I have this month. I think you’re right on the .9490 price I’m flat right now but ready. Probably will stay flat til NFP data and the bhp potash deal is more clear
You guys, keep your eyes peeled on eur/cad. Catch it on a good pullback, if all hell breaks loose. This sucker is going to get on one hell of an upside roll, if the Eurozone can keep the can kicking down the road for a while.
What price are you looking at MM?
everyone talks about the ‘pain trade’ but i imagine aud/cad must have been a frustrating trade. grinding higher, not retracing- chinese water torture meets forex… gotta decompress after trades like that… fwiw, i think bhp gets pot – synergy, financials, geopolitics – it’s just a matter of the terms/structure of the deal. cheers,
Well I think I was right I was just early
Aziz check out EURCAD. I think it could start to sell off by end of day or beginning of the new month. Let me know. Cheers!
if you want to avoid the hair of that particular dog, you could just short both usd/cad and aud/usd when usd/cad is at 1.066 and aud/cad is at .949. a hedge of sorts if you think we’ll go up and down risk-wise. cut one for a profit and then when the market reverses cut the other…
I like your thinkin’ JR Usd/cad really can’t seem to break through that 1.067 it’s tried 3 times
Someone mention my favourite tipple????
What, water torture?
I got involved yesterday, Annie. But the main resistance level that has proven to be a damn good one is, 1.3687. A near quadruple, weekly, candlestick top.Which is also the price of when weekly RSI, dies at it’s 50 line. That resistance area, could also be a clue on shorting, but for now, the daily techs are bullish and at the beginning of wave 3 to the upside. If risk stays off and there’s a breach of that resistance? This sucker’s long gone! Risk on, then i’ll short the hell out of it, back to 1.25. lol!!!
Thanks MM
If you’re looking for a price level to enter, around the current price, or a couple of dozen pips lower, would be good. That’s if current buyers are sticking to trade and fundamentals support more buying going forward. What will happen is, price will chop nearly sideways, as overbought indicators correct. Sideways price movements, after big runs, are great because they correct overbought/oversold indicators and allow more room to run. Healthy, room to run. Healthy, from a trending perspective, not a size of move perspective.
Dear jjake,
yes, eurcad looks a good short at 1.35. I think this pair along with euraud should sell off faster than gbpcad and gbpaud which also implies that eurgbp will reverse.
As for audcad, it is ripe again for shorting at this level. playing this 50 pips range is good until evidence of further drop.
jjake,
EURUSD is poised to be brutaly beaten up by GBPUSD. Current scenario spells the following. EURUSD held steady when GBP sold off. GBPAUD is to avoid as for EURAUD and EURCAD I believe they will having sell off and kick eurusd butt big times.
Aziz, i believe EURCAD will sell off. skip the euraud long as it did not go down far enough today. I am still short on fiber, aud/u and eurgbp . Best of luck. Cheers!!
Yes, EURCAD and EURAUD shall sell off. I never went long euraud. what for. That was a mere retracement and further collapse of this pair is imminent. Fundamentally I would rather stick with aud than with eur given all sovereign debt incertainty in europe.
jjack,
As for JPY, seasonal patterns suggest JPY tops out toward late september early october. Conclusion: JPY shall continue to beefen up.
JJack,
take a look at spike in audcad. Wow, stop hunting activity. Oh what bunch of stupid dealers. I am short this pair. Let’s nail them rather than them nailing me.
Earnestly speaking, that price is achilles heel blow to dealers.
AZIZ: I rather leave AUD/CAD alone. Hard to call. However, you should consider USDCHF. Most traders believe this will tank more but I think they are way too bearish. I believe it will start grinding up for a few hundred pips and then maybe drop again next week. I have a long position 0150 on it with tight stop loss. Looks like the ALGOS could be jumping on this lightly rather then selling it.
Cheers!
Aziz, the call on EURCAD short looks good now too. There could be fireworks on this pair later tonight. My position on this is 3510 down. Cheers!!
JJacke, yes, I think that at least technical rebound in usdchf is nearby. As for AUDCAD, I took that trade.
Will AUDUSD make it back to 0.90 or will usdcad stay at at 1.065 when audusd is at 0.9. I think that is far from happening. So 1.065*0.9= 0.9585. Conclusion I will keep shorting AUDCAD as long as it keeps approaching 0.9585. Well 100 pips is no big fuss. Cheers,
Hi Aziz if you dont mind me asking, can i get a glimpse of your mathematical pairs idea,
let me know ill give you my email.
thanks
Hello Jahed,
Yes, you are welcome to ask any question. you can send your questions to anisbziouit@hotmail.com
anyways, who gets beaten with this big loophole left by arbitrage. Big players and dealers should get smashed by the very same token which allows them to take fast moves to seize arbitrage opportunities. So I am pleased to help retail traders beat big boys and dealers. Wow, let’s inverse roles and give big players some really bad time. I had to beat my head against the wall to figure those links. Nothing really fancy but poweful enough to beat big boys and dealers all together.
THanks Aziz ill give you a email.
SALAMS
Jahed,
You’re welcome:) Salam