Anybody know why USD is strengthening? | Forex Factory

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Anybody know why USD is strengthening?

  • #1
  • First Post: Oct 22, 2007 5:58am Oct 22, 2007 5:58am
Hi

It is so wierd. After the G7 mtg, i thought USD should go lower but instead we see the AUD and EUR selling off?

Any comments ?


Thanks!
  • #2
  • Oct 22, 2007 6:08am Oct 22, 2007 6:08am
Maybe they all want dollars to buy cheap stocks with today.
  • #3
  • Oct 22, 2007 6:09am Oct 22, 2007 6:09am
Quoting Mr_Trader
Hi

It is so wierd. After the G7 mtg, i thought USD should go lower but instead we see the AUD and EUR selling off?

Any comments ?


Thanks!
large stops were run in both GBP and EUR according to Thomson
  • #4
  • Oct 22, 2007 6:10am Oct 22, 2007 6:10am
Quoting smjones
large stops were run in both GBP and EUR according to Thomson
Thanks! I guess this is technical slide.
  • #5
  • Oct 22, 2007 6:11am Oct 22, 2007 6:11am
Carry trades unwinding.. This is usually good for the dollar..
  • #6
  • Oct 22, 2007 6:29am Oct 22, 2007 6:29am
The Financial crisis is back again! This is why the $$ goes stronger against the euro. Everybody expect a rate cut from the FED and thus the expectation of a hike for the Eurozone has been dropped.

My own theory LOL
  • #7
  • Oct 22, 2007 6:29am Oct 22, 2007 6:29am
when carry trade unwinds Yen strengthens, but without any positive Dollar news, why are dollar pairs strengthening across the board?
I'm just moving clouds today - tomorrow I'll try mountains.
  • #8
  • Oct 22, 2007 6:31am Oct 22, 2007 6:31am
Quoting Mr_Trader
Hi

It is so wierd. After the G7 mtg, i thought USD should go lower but instead we see the AUD and EUR selling off?

Any comments ?


Thanks!
Because we already have expected the USD should go lower at G7 bro.
Everyone are waiting for another new economics data.
  • #9
  • Oct 22, 2007 10:04am Oct 22, 2007 10:04am
Quoting Mr_Trader
Hi

It is so wierd. After the G7 mtg, i thought USD should go lower but instead we see the AUD and EUR selling off?

Any comments ?


Thanks!
"Why" is a stupid question. Do you really think that someone has a answer for this?

And if there's any answer, then the answer is, because "yous were expecting it to continue to go lower".
  • #10
  • Oct 22, 2007 10:21am Oct 22, 2007 10:21am
Quoting SomedayIwill
"Why" is a stupid question. Do you really think that someone has a answer for this?
A good number of people are wondering why, that doesn't make us stupid.

There's an article on FF front page called "US$ Strength? Reasons?" and they talk about all the fundies, gold dropped, oil dropped, dow dropped, yada yada, all things that have happened over and over forever and ever.

I'm just not a fundies type of guy, I guess.

The reason is, someone with a whole lotta money is buying $$. Beyond that, we don't know who or why, and may not find out, just as any time the market takes a sudden move.
  • #11
  • Oct 22, 2007 10:34am Oct 22, 2007 10:34am
i got aprox 5 reasons

sign?
1. the euro stop being bulish?
http://www.forexfactory.com/showthread.php?t=22453

fact?
2. Dax, and other stock indexes was expired on black friday, so today they should bottomed and tomorow it should became fresh buy

news?
3. seesfire with the kurds and the turks, in 3 day war only, that should make oil less bulish, stocks, yaba daba do....etc,etc,etc, sarkozy divorcing,..etc

trigger
4. G7, ronald, and SLses...

evrybody has their own reasons,...fact is, there was more selling then buying...
its just money
  • #12
  • Oct 22, 2007 10:59am Oct 22, 2007 10:59am
i dont know if this is the right place, im sorry if its not... but does someone mind telling me why the heck the eur, and other currencies are dipping like there launching them selvs into nachoes???? was it news?? if so which one!!! lol which one!

Thanks guys peace in the east
And your mouth dropped
  • #13
  • Oct 22, 2007 11:18am Oct 22, 2007 11:18am
no one hu?

thats intresting...
And your mouth dropped
  • #14
  • Oct 22, 2007 11:23am Oct 22, 2007 11:23am
Quoting makey2u
no one hu?

thats intresting...
Euro was sold off with bonds up in Europe. Partial Eur/JPY unwinded.
  • #15
  • Oct 22, 2007 11:38am Oct 22, 2007 11:38am
nobody really knows what happened, the news is saying "risk aversion", but i suspect we will find out what really happened in a few days.

btw, when big things happen for no apparent reason, i find its good practice to go with it and ask questions later there are a lot of dollar shorts that are in pain now, a good number of them will be throwing in the towel if this keeps up, making the move even more pronounced.
Relax and be happy.
  • #16
  • Oct 22, 2007 11:53am Oct 22, 2007 11:53am
could be G7 intervention...
none of the current price action is changing anything. Fundamentals are still bad for the usd compared to stronger currencies; all this represents is good buying opportunities. definitely not a shift in the overall trading trend.

Good luck.
  • #17
  • Oct 22, 2007 11:55am Oct 22, 2007 11:55am
i beleive the eur really needed this... the economy in america isnt as tuff as it used to be... whats got me amazed was how the CAD was tougher then the usd...

but in regards with all this news, could of it have been due to a G8 meeting??

lol so your saying when a break like this happends in this case its SHORT, you short and trail it out? and wait to see where it goes? just wondering sorta getting into forex again after losing 150k lol so im trying to learn like a baby again... give your thoughts people, what could have made the currencies go nuts??

haha this is intresting, these types of moves must be awsome to test out strats from people

peace in the east guys.
And your mouth dropped
  • #18
  • Oct 22, 2007 12:25pm Oct 22, 2007 12:25pm
Quoting blueruby
A good number of people are wondering why, that doesn't make us stupid.

There's an article on FF front page called "US$ Strength? Reasons?" and they talk about all the fundies, gold dropped, oil dropped, dow dropped, yada yada, all things that have happened over and over forever and ever.

I'm just not a fundies type of guy, I guess.

The reason is, someone with a whole lotta money is buying $$. Beyond that, we don't know who or why, and may not find out, just as any time the market takes a sudden move.
OK sorry then, not stupid, some other word - not sure which one

It's just that there's no answer for such a things anyway, people might discuss about the reasons and agree or disagree together - still, it's impossible to prove the reason.
  • #19
  • Oct 22, 2007 12:27pm Oct 22, 2007 12:27pm
I would also like to know what happened. When I woke up to check the charts I thought "wow, a 23,300 pip dip on EURUSD, not bad"

I was reading the wrong chart though (and quite incorrectly). Moments like that are why I don't trade in the morning
  • #20
  • Oct 22, 2007 12:34pm Oct 22, 2007 12:34pm
Quoting SomedayIwill
still, it's impossible to prove the reason.
will have the answer in a few days, hopefully
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
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