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Daily analysis - 29-12-2010

Sterling was the star performer of yesterday's session with a peak of 1.55 against the dollar in what was described as skeletal trading. Strategists in general were clueless as to the reason for a subsequent decline to 1.5350 against the greenback and were looking round for spurious reasons for the move. One analyst pointed to a large order for dollars by a Mrs Thetford of Basingstoke who is hoping to fly to New York state for a skiing holiday as a likely trigger for Sterling's decline. 

Technical outlook  - 18-11-10

The dollar has work to do within a convex/concave/upward/downward channel and is just about to enter the twilight zone. Looking at the 26 day moving average and the 41 day moving average the dollar has just violated the guinea-pig dead cross which leaves it vulnerable to further selling pressure.    

Daily analysis - 16-11-2010

There was important price action during Monday as traders focussed on something happening in the markets. Senior analyst Chuck Snazzler at Vague Economics commented that 'This was a typical Monday and I am confidently expecting that tomorrow will be Tuesday'. There was a period of activity described by sources as sizzling during European hours and then conditions were slightly calmer later in the session. There were economic releases during the day and it looks like there will be more over the next 24 hours which may have an impact on the dollar.

Technical outlook  - 12-11-10

The Euro is just about to complete the third wave of the second wave of the fifth wave within a major corrective first wave. The Hakuna Matata - Duckworth Lewis oscillator has also clearly reached over-sold levels signalling that a rebound in the currency is imminent. Traders also pointed to the little-known November 12th indicator which is considered a key reversal day when the year ends in zero.   

Bank of England clueless - 10-11-2010

Bank of England Governor King in candid remarks to the media on Wednesday admitted that the bank had no idea at all what was going to happen in the economy. 'We needed to produce some growth forecasts and so we asked the computer to produce some random figures between 1 and 3 and then filled in the gaps in the tables. We also took a poll of the first 100 people who walked past the bank to judge the inflation rate in 2 year's time.

Daily analysis - 08-11-2010

There were big market movements on Friday and many currencies moved quite sharply at times. Senior analyst Chuck Snazzler at Vague Economics commented that 'There was definitely something happening on Friday. The weekend markets were described universally as quiet with the closing of markets stifling activity. Snazzler commented that I have not seen a Saturday this quiet since last week and he also remarked that he expected something to happen on Monday when the markets re-opened.

Federal Reserve security alert - 03-11-2010

There was a tense situation at the Federal Reserve offices in Washington on Wednesday. Security was alerted to a clear and present danger within the building with the threat of major danger to the stability of the US economy. A major alert was declared with security lockdown in force as the threat was investigated amid concerns over a conspiracy involving a cell of 7 people who also were believed to have outside help. Fed Chairman Bernanke was later released without charge.