A new day, a fresh round of USD-selling, and another record high for gold. The unrelenting momentum of gold’s rally has surprised many people, re-igniting chatter about the possibility of a bubble or blow-out reversal. But while the 26% rise in the past 3 months is still impressive, compared to…
Tag Archives: rally
Mid-Day Report: Yen Firm, High-Yielders Pressured by Dubai Debt Delay
Yen remains firm after earlier rally that sent it to new 14 year high against dollar. Other major currencies are dragged down against dollar by sharp selloff in respective yen crosses. News that Dubai World, a government investment company having debts totaling around $60b, has asked creditors for postponing its…
USD Lower, Existing Home Sales Rise 10.1%
The USD starts the week sharply lower as equity markets rally and gold trades at a new record high. The initial catalyst for the surge in the equity markets and gold were linked to dovish comments from the Fed’s Bullard. Bullard called for the Fed to extend its asset purchase…
EURUSD: Higher Recovery Aims At The 1.5014 Level
Rising from its past week losses, EUR was seen rallying strongly today reversing all most of its last week losses and clearing the way for further upside towards the 1.5014 level, its Nov 16’09 high. This current rally is consistent with our medium term bullish structure view referenced in our…
Trichet Tempers European Rate Rally
Apart from giving the euro a slap in the face Jean Claude Trichet’s remarks about wrapping up the cheap loans awarded to the European banking system a year ago tempered the recent rally in European interest rate futures this morning. One has to be careful where to go with the…