Where are the Dollar buyers? | Forex Factory

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Where are the Dollar buyers?

  • #1
  • First Post: Oct 17, 2006 8:02am Oct 17, 2006 8:02am
My take was that the PPI #'s were inflationary and fuel cost was the only thing goin the other way. The tic # was huge yet here we are.
Profit is where readiness meets Opportunity
  • #2
  • Oct 17, 2006 8:19am Oct 17, 2006 8:19am
Pretty amusing so far. If the dollar won't go up on positive data, sell the first negative report. LOL
Profit is where readiness meets Opportunity
  • #3
  • Oct 17, 2006 8:19am Oct 17, 2006 8:19am
Me too!!

After all the technical analysis for a $ Bull and all the comments here on the FF about "hold on to your Dollars" I see my GBP short going North and the red numbers amounting.....


........I understood the PPI and TIC as DOLLAR POSITIVE???!!??

Man, get back to your Terminals and BUY DOLLARS!

Peter.
  • #4
  • Oct 17, 2006 8:48am Oct 17, 2006 8:48am
I heard that traders were soo surprised with the whopping 0.6% Core PPI, they did not bought it earlier and even called BLS to confirm the number.

When BLS replied that the 0.6% is true, they still stood aside.

So there you go, no usd buyers!

TIC data was twice the number.. I think thats the same story.

No USD buyers.

DARN!

Two freakin very strong USD numbers and USD weakened vs EUR, GBP!!! and JPY ???

Lesson: If the data is too good, dont buy it. If the data is too bad, reverse it.
  • #5
  • Oct 17, 2006 8:52am Oct 17, 2006 8:52am
We may see some bargain hunters yet after the dust settles but sentiment now is definaltely negative.
Profit is where readiness meets Opportunity
  • #6
  • Oct 17, 2006 8:57am Oct 17, 2006 8:57am
Could that mean that the USD has risen too far too fast for the past 2 weeks? Or that the dollar bears have already been taken out of the market through their stop losses? And therefore there is no need for the big boys to push the dollar up further for the time being.

As for me I just trade what I see. I don't really need to understand the reasons why the market goes up or down to be able to make pips.:
  • #7
  • Oct 17, 2006 8:58am Oct 17, 2006 8:58am
Quoting petercross
Me too!!

After all the technical analysis for a $ Bull and all the comments here on the FF about "hold on to your Dollars" I see my GBP short going North and the red numbers amounting.....


........I understood the PPI and TIC as DOLLAR POSITIVE???!!??

Man, get back to your Terminals and BUY DOLLARS!

Peter.
I think the GBP/USD would trade in 1.8500 - 1.8800 range.
  • #8
  • Oct 17, 2006 9:07am Oct 17, 2006 9:07am
Quoting c1ro
I think the GBP/USD would trade in 1.8500 - 1.8800 range.
You mean, the a little, tiny range of 300 Pips! That is difficult to hold, if you don't have a big, fat account to hold the drawdown.

Mine can't stand a range of plus minus 300 Pips......

Peter.

I still see comments about a Dollar Bullish outlook floating around, could the elections move this story to an "Happy End"? (for the Dollar....)

Peter.
  • #9
  • Oct 17, 2006 9:13am Oct 17, 2006 9:13am
Quoting petercross
You mean, the a little, tiny range of 300 Pips! That is difficult to hold, if you don't have a big, fat account to hold the drawdown.

Mine can't stand a range of plus minus 300 Pips......

Peter.

I still see comments about a Dollar Bullish outlook floating around, could the elections move this story to an "Happy End"? (for the Dollar....)

Peter.
Fantastic. Well said Peter.

Where are all dollar buyers? If they will not come today to buy $, my account will be blown. My account can blown within 60 pips.
These too shall pass away.
  • #10
  • Oct 17, 2006 9:19am Oct 17, 2006 9:19am
Quoting petercross
You mean, the a little, tiny range of 300 Pips! That is difficult to hold, if you don't have a big, fat account to hold the drawdown.

Mine can't stand a range of plus minus 300 Pips......

Peter.

I still see comments about a Dollar Bullish outlook floating around, could the elections move this story to an "Happy End"? (for the Dollar....)

Peter.
300 pips is a medium sized range. Remember the GBP/USD supposedly moves on average of 120 pips a day...so 300 pips is less than a 3-day move. If your account can't stand a 300 pip move, then it's probably best not to wait this one out.

I think the earlier post about dollar bulls being on the sideline was accurate. I think the move upwards in the dollar was less fundamentally supported and there are some of those bulls that wanted to start taking profit. With the headline numbers being negative but the core numbers being positive, I can't imagine that would have convinced any bull within a shadow of a doubt that the ride up should continue. Personally, I was one of those wondering when the USD would come back a bit...I guess I got my answer. So now it's waiting for the fed to see what they might or might not do.
  • #11
  • Oct 17, 2006 9:20am Oct 17, 2006 9:20am
Quoting petercross
I still see comments about a Dollar Bullish outlook floating around, could the elections move this story to an "Happy End"? (for the Dollar....)

Peter.
Politician care about good employment, low unemployment.

I dont think strong usd is of any importance to politician.
  • #12
  • Oct 17, 2006 9:25am Oct 17, 2006 9:25am
-Fed's Stern speaks in VA at 12:00pm.

-Fed's Bies speaks to American Banker's Association in Phoenix at 1:45pm.

Wonder if the continued inflation we've seen today will cause a comment about interest rates.
  • #13
  • Oct 17, 2006 7:15pm Oct 17, 2006 7:15pm
Well, I am not thoroughly following the economic releases, but my last week & during the start of this week I have had 2 open positions, short the EUR/USD & long the USD/CAD...My daily analysis tonight suggested that I get flat for the EUR/USD for the short term (1-2 weeks) & to stay long my USD/CAD position, that's why I covered my short position & I am flat now until I get better signals that the Dollar uptrend would continue...


Thanks,

Nader
  • #14
  • Oct 18, 2006 5:14am Oct 18, 2006 5:14am
Quoting petercross
Me too!!

After all the technical analysis for a $ Bull and all the comments here on the FF about "hold on to your Dollars" I see my GBP short going North and the red numbers amounting.....


........I understood the PPI and TIC as DOLLAR POSITIVE???!!??

Man, get back to your Terminals and BUY DOLLARS!

Peter.
Am I the only one who interpreted the PPI numbers as not $+?
I think that yesterday's PPI numbers tend to be $- (ok maybe neutral ) and that's why:

PPI is -1.3% - clearly not so good for the $.
Core PPI (ex. energy & food) +0.6% BUT excluding cars and trucks it is 0.1%.
  • #15
  • Last Post: Oct 18, 2006 6:07am Oct 18, 2006 6:07am
that why all of us must use stop lost !


i also be swaped out of the market because of that news ! with -43 pips
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