Relax and be happy.
Poll
- where will the EURUSD be on Jan1?
MT4: how to change "EURUSD" to "#EURUSD"? 3 replies
Re: EurUsd short term 15 replies
did oanda just drop its spread for eurusd to 1 pip? 11 replies
EA for multiple lot limit order for EURUSD 0 replies
NFP nice bump up on EURUSD 2 replies
Quoting GullDislikedSo what do you trade that is not influenced by either of the pair?
Let me know and we can make millllllllions. LOL :
I had better get some sleep this all night stuff makes me manic.Ignored
Quoting jackoDislikedI believe between 1.2600 and 1.3000.
Don't quote me on any conspiracy theories but I believe that that China is regularly intervening to keep the dollar up. Also, the European Community members Central Banks are in there too (keeping the dollar up and the Euro down).
Both sets of players do NOT want to see the Euro over 1.3000 as it will affect their trade competitiveness.
Both are comfortable with the 1.2500 to 1.3000 range
China has a HUGE war-chest of capital that they can use. Last figure quoted was that US has accumulated foreign debt to China of
USD$848 Billion... and rising.
I think that breaking 1.3000 will be VERY difficult...it depends on whether China wants to be "seen" to be manipulating the currency to keep the dollar upIgnored
Quoting jackoDislikedI cannot see ONE reason for strength in the US Dollar:
1. Europe, Britain and Japan have effectively told the world that they will have more interest rate rises than the US ...and the rises will be bigger....
2. The Pound is now much stronger on higher interest rates... the same will happen with the Euro and Yen in the near future
3. The Arabs/ Swedes/Russians etc etc are still continuing to heavily buy other currencies (Euro, Yen, Pound) to spread their Reserve Bank portfolios in preference to US dollars. (If China stops buying US bonds, these portfolios will explode in value as the USD drops)
4. The enormous US deficit will not disappear. China effectively told ole George W to get stuffed and that they would not change their currency peg. (Read: China will continue to flood the market with cheap goods and slowly strangle US businesses). The trade inbalance is heading towards a Trillion dollars (thats US $1000 Billion) in China's favour and has been getting significantly higher each month
5. After the fall of the communist regimes, Europe is now finally getting its act together
6. The Iraqi war is another Vietnam and will continue to suck money.
All of the above would, and should, result in a fall in the US Dollar.
EXCEPT for this one:
The most significant reason that it hasn't fallen dramatically is the ongoing "manipulation" of the USD by China, which does NOT want to see the Euro over 1.3000 and the Yen under 100.00 as it will affect their trade competitiveness.
The US Administration is continually haranguing Beijing to let their currency "float" but the Chinese just smile (as they know very well that they are quickly strangling all US manufacturing industries to death).
The question arises: what can the US administration do about this? Absolutely nothing!!!Ignored
Quoting newbietrader101DislikedJacko,
I have just been reading your all your posts. You seem very intelligent. You also appear to be a trader of large volumes. In one of your posts here you said that you usually trade 100 to 120 lots of Euro deals at a time
Are you the same Jacko from dailyFX ? He was a very successful trader who just disappeared from the scene after ripping out a huge amount of money from Forex trading live online in a thread there.
Can you contact me to help me in my trading?
newbietrader101Ignored
Quoting jackoDislikedI believe between 1.2600 and 1.3000.
Don't quote me on any conspiracy theories but I believe that that China is regularly intervening to keep the dollar up. Also, the European Community members Central Banks are in there too (keeping the dollar up and the Euro down).
Both sets of players do NOT want to see the Euro over 1.3000 as it will affect their trade competitiveness.
Both are comfortable with the 1.2500 to 1.3000 range
China has a HUGE war-chest of capital that they can use. Last figure quoted was that US has accumulated foreign debt to China of
USD$848 Billion... and rising.
I think that breaking 1.3000 will be VERY difficult...it depends on whether China wants to be "seen" to be manipulating the currency to keep the dollar upIgnored
QuoteDislikedQuoted from AFP News
<?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:country-region w:st="on"><st1lace w:st="on">China</st1lace></st1:country-region> will announce any day now that its forex reserves have shot past US$1 trillion...
...The nation's forex holdings reached US$987.9 billion at the end of September and have been expanding at a rate of US$18.8 billion a month this year. At the end of 2000, <st1:country-region w:st="on"><st1lace w:st="on">China</st1lace></st1:country-region>'s forex reserves stood at only US$165.6 billion.
...Experts worry that <st1:country-region w:st="on">China</st1:country-region> could suffer huge losses if the dollar depreciates or <st1:country-region w:st="on"><st1lace w:st="on">U.S.</st1lace></st1:country-region> treasury yields fall, as the dollar-denominated assets are by far the largest portion of the reserve portfolio.