Nuclear Test

Ive seen two news reports of north korea has just fired off a underground nuke test

anyone else hear anything?

I think that trading news on geo-political events is very hard to determine. Unless it is an event that changes life for a country, sure. But otherwise, dont waste time on issues like these. Like for example, going to war, or declaration of going to war will have an affect on the market, speculation will not. And btw, i dont think there is currency trades for North Korean/ USD, so dont count your luck with that. The USD/JPY might be affected, such as the new prime minister was announced a few days ago, the Yen DROPPED (i remember yahoo had a report at 10 am, which the Yen dropped around that time). Always keep an ear out on geo-political events, but dont trade on them, unless it affects the country of the top currency pairs that are traded.

hmm seen it on other places to.
seems it is the goverment of north korea that is saying that.
so far ive seen it on Oanda news, Gain news, Bloomburg and BBC news.

Do you think they really let one off, and if they are faking it good place for a short?

sure cant trade that cross. But tension with them really affects japans currency crosses.
Eur/jpy has already move around 35 pips.
Thats quite a bit when it was already at some pretty stiff resistance.

They did do it, even yahoo news reported it, 12 min ago as of right now. Watch the Yen and see if it drops.

When did the news come out? Yahoo might be belated, when i tracked this on my demo, it seems the yen started dipping about 10:35 eastern time.



Yeah... News like this def had an affect on the market, the Asian market is down after this news came out. Can anyone find out when did the first report came out? The Yen started going down about 1 hour ago, my assumption that news first came out about an hour ago.

http://news.bbc.co.uk/2/hi/in_depth/6032525.stm

the first report i seen on it came out at 10:42 my time. Eastern daylight savings.

Also i just seen on cnn a pentagon official says they have seismic data confirm it.

I bet there will be alot of movement tommorow from this.

If you look on USD/JPY Daily chart there is major resistance around 119.50 area coming up. Is it going to penetrate and start a huge uptrend, or get bounced back down?

Actually, I think it's a lot lower than that sorry, around 119.15 is probably closer.sorry

I've been long on EUR/JPY since 9:45 CST...

EUR/JPY is working out best, this thing is moving USD/JPY but not as much. There is drag on USD because the US is directly involved in this dispute, Eurozone is not. Geopolitical news is the best to trade, it can move things way more than Economic announcements but the impact takes a lot longer to be absorbed. There is all kinds of analysis for the U.S. government to do before they will independently confirm this, keep an eye out for Tony Snow over the next few hours. He's my proprietary indicator on EUR/JPY right now, treat his statement like a fed announcement...

You think that Kim-Jong-Il did this just to wake George Bush up out of bed?

No, but I'm developing a new indicator, the nuke richter. You graph a richter scale under a 1-hour Euro-Yen chart, and whenever the richter scale crosses 4 you go long!

Nope.

I heard that N Korea is low on cash. They opened up a very large Forex Account and started shorting JPY all over before announcing the nuke test.

GBP/JPY too!

no

wow...!!!
if only i had a nuke, 1bill dollars and a 1:400 leveraged account!

they are prolly really stupid if they did not short jpy currency's and jpy stocks lol.

Just saw it on CNN, unbelievable...

1KiloTon only?

Could it even be a nuke? or a fluke TNT explosion made to scare off S Korea, and US?