We have a major technical break in CAD/JPY this morning. The currency pair has broken below trend line support, the 50-day SMA and the 23.6% Fibonacci retracement of the year to date rally. Next stop could be 81.50. Lower oil prices are playing a big role in the move. Read all about it [...]

Posted in 2009 canadian dollar, Bank of Canada, Forex Technicals, forex blog 1 Comment »

There are no U.S. economic reports tomorrow but that does not mean that we wont have some interesting volatility in the financial markets. Quite the contrary as we have Quad or Quadruple Witching on the calendar. Quadruple witching only occurs four times a year - on the third Friday of March, June, September and [...]

Posted in 2009 eurusd forecasts, eur/usd, forex blog 3 Comments »

I was on CNBC this afternoon talking about the SNB meeting, the suspected intervention and the outlook for the British pound:

Posted in CNBC, Forex TV No Comments »

We had a number of surprises in U.S. economic data this morning including the Philly Fed index and leading indicators, but the biggest surprise was definitely the decline in continuing claims. Since the beginning of the year, continuing claims, which measures the number of people continuing to claim unemployment benefits rose week after week, [...]

Posted in 2009 eurusd forecasts, continuing claims recession, dollar recession, euro, forex blog, jobs 6 Comments »

The Swiss National Bank has been intervening in the currency market since March. Unlike other central banks who have failed at intervention, the SNB has done a fantastic job keeping EUR/CHF above 1.50 for the past 3 months. The SNB focuses on EUR/CHF over USD/CHF because the European Union is by far the [...]

Posted in Currency Intervention, EURJPY, Swiss Franc, swiss national bank 1 Comment »