**Update on 6/30/09 at 1:30pm - GBP/JPY hit an intraday high of 160.27, hopefully you were able to bank some pips on this trade. The reversal candle that we have right now suggests that we could see a deeper pullback to 156.
We have a nice upside breakout in GBP/JPY this morning that has been [...]

Posted in 2009 gbpusd forecast, British Pound, GBPJPY, forex blog 5 Comments »

Here is a very well written article about China’s predicament with the U.S. dollar and explains why they won’t be talking down the dollar anytime soon:
From the Weekly Standard
The Dollar’s New Best Friend
Beijing warms up to the greenback–because it has to.
by Gordon G. Chang
Last Tuesday, Brazil, Russia, India, and China–the so-called BRIC nations–met in Yekaterinburg, [...]

Posted in china, chinese yuan, forex blog 4 Comments »

Here is the interview I did with CNBC last night talking about the outlook for the EUR/USD and commodity currencies:

Posted in CNBC, Forex TV, forex blog No Comments »

Although everyone’s focus is on the Federal Reserve’s interest rate decision this afternoon, we have a lot of action in the European currencies. If you notice, the Euro is one of the few major currencies to under perform the dollar this morning because of the massively well subscribed ECB refinancing. In my daily [...]

Posted in Currency Intervention, Swiss Franc, swiss national bank 2 Comments »

German business confidence improved marginally which should have been bullish for the euro, but unfortunately the most actively traded currency pair in the forex market has remained under pressure throughout the European and U.S. trading sessions. So if the EUR/USD is not responding to economic data then what is driving it lower?
Five factors:
1. [...]

Posted in 2009 eurusd forecasts, eur/usd, forex blog 6 Comments »