The US trade deficit narrowed materially in the month of November to the smallest since June 2003. Although the narrower trade deficit is normally something to cheer about, the details of the report indicate that the only reasons why trade improved was because of the fall in oil prices and slower domestic demand. The big [...]

Posted in Canadian Dollar, USD/CAD, forex blog, us trade deficit 2 Comments »

Forex trading ranges have exploded over the past few months. The daily average trading range has doubled for all of the actively traded currency pairs in 2008, with some currency pairs even seeing a 200% rise in their average daily range.
However the big explosion in volatility has actually happened in the past 9 weeks. [...]

Posted in Day Trading Currency, EURJPY, Forex News, Forex Technicals, New Zealand dollar, USD/CAD, currency trading ranges, eur/gbp, eur/gbp record high, eur/usd, forex blog, forex book, fx trading ranges, usd/jpy 8 Comments »

Most currency traders only have their eyes on the “majors” such as EUR/USD, USD/JPY, and the GBP/USD. Admittedly, these are the most liquid currency pairs, but sometimes opportunities could be missed if you are not also looking at the crosses. Trends are usually more powerful in the crosses than the majors and you [...]

Posted in British Pound, Canadian Dollar, EURJPY, Forex News, Forex Technicals, GBPJPY, Japanese Yen, New Zealand dollar, USD/CAD, dollar rally, eur/usd, forex blog, forex signals, usd/jpy 2 Comments »

With the global economic downturn in full swing, one of the burning questions on everyone’s minds is who will be the first central bank to take interest rates to zero and how close will everyone else get?
We are in a global easing cycle and the varying aggressiveness of central banks around the world means [...]

Posted in Australian Dollar, Bank of Canada, Bank of England, Bank of Japan, Bernanke, BoE rate cut, British Pound, Canadian Dollar, ECB, Fed Rate Cut, Federal Reserve, Forex, Forex News, Japanese Yen, Reserve Bank of Australia, Swiss Franc, USD/CAD, ecb rate cut, forex blog, reserve bank of australia intervention, reserve bank of new zealand, swiss national bank No Comments »

I was on Bloomberg Television last night talking about how I like shorting USD/CAD and how USD/JPY could hit 95 (USD/CAD was 1.2303 last night and USD/JPY trading at 97).
Click the image to watch the video. It is on the right hand side of the screen.
Here is a chart of USD/CAD:
USD/CAD is in the [...]

Posted in Bloomberg, Canadian Dollar, Forex, Forex News, Forex Podcast, Forex Technicals, Japanese Yen, USD/CAD, forex blog, usd/jpy No Comments »