The I-Phone has arrived
At long last the I-Phone is here. Hundred’s ….make that thousands stood in line in excess of one week (what about using the bathroom/shower’s ??)to be one of the first in line. Others got to the front of the line the old fashion way, they paid for it. Up to 400 dollars was paid to move toward the front of the line in an effort to secure the right to purchase up to two I-Phone’s. Here is the story (and Picture) in USA Today. I must admit carrying one devise is very appealing, so once the crowds die down abit, I will be making my way to an Apple store to see what all the excitement is about.
Good Luck and Good Forex Trading
WWW.FXTRADINGIDEAS.BLOGSPOT.COM
Fed Meeting today
Federal Reserve Meeting today and all expectations are for no change in rates and basically unchanged in the commentary. This article from Trader Daily gives a good expectation.
Good Luck and Good FX Trading.
Up and Down goes the Market
I was looking over my last few blog entries and I see that one week I an calling for the melting down of the markets and the next that the “Party” (yield party that is) is back bigger and stronger. This tells me that the markets MAY be in a holding or revering situation. I know from my own trading that I have been paying the top and selling the bottom more then once this week. This requires me to take a step back. I have cut all of my non core positions. I still have small interest rate risk in Brazil, Mexico, and Argentina and this I will keep (for now) but I feel it prudent to cut the risk down where possible. We are heading into the summer. July 4Th holiday’s will be here soon. This means vacation’s, staff leaving early, basically complacency. If there will be a lack of market changing information, like I think will occur) then market will begin to grind sideways and yield will once again reign supreme. I could be wrong and that is why I am calling for a more cautious approach but time will tell.
FXTRADINGIDEA@AOL.COM
Global Interest Rates continue to climb
Today Sweden surprised the markets by raising rates 25bp and coming out with a quite hawkish commentary. This rocked the market sending the currency from 7.0090 up to 6.8920. This is a very big move. On top of this a major Canadian bank came out with a forcast for not one but two future rate increases in Canada. One on July 10 and the other on September 5. I certainly do not doubt it and I see rate rises in the future of the Fed also. Inflation is a concern (Globally) and growth seems quite strong. It makes sense. These markets have been complacent for some time. Although I will not reverse my positive carry positions, I am going to be more caustious and will not add for the time being.
FXTRADINGIDEAS@AOL.COM
Yahoo Co-Founder Yang becomes CEO
Under the Catogory of IMAGINE IF I DID A GOOD JOB…..comes this story from today’s USA TODAY. Terry Semel, the former Warner Bros Executive, stepped down under mounting pressure from investors over a poor stock performance and a reported 71.7 million dollar pay package for 2006. I for one am a big believer in paying for performance but for 71.7 mio dollars something good better be happening.
FXTRADINGIDEAS@AOL.COM
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