EURUSD

WHY....THE MARKET IS TOTALLY BEARISH TODAY...BETTER HAVE TIGHT STOPLOSS

Premise Bears getting tired, divergnce

eur down 175 gbp up 68 whats that about?

e- zone must be in the crapper even u-k kiscking ass severly

[FINANCIAL] - Acoording to Spanish website [COTIZALIA] the Bank of Spain is talking to individual Spanish banks in orser to allow them to 'fine-tune' their 2008 accounts to avoid taking massive write-downs - allowing banks to increase amorisation of troubled assets. Also, late yesterday, S&P cut the long-term counterparty credit rating on [BNP PARIBAS] to AA with negative outlook from AA+, ending the CreditWatch that was initiated on 17-Dec. The rating action takes into account the current market dislocation and rapidly deteriorating global economic cycle. The agency added that it expects a significant decline in profitability, with net income dropping from more than EUR 7bln in 2007 to a moderate EUR 3bln in 2008 with limited recovery in 2009.

Well hit the stops long for the dollar and the gbp it was a nice run , look for some more wild moves tomarro at gdp numbers us and canada have a good day and protect those profits , no one was ever wrong taking some off the table .

this might be it..............still seaching

It seems [EUR/USD] weakness has been largely driven by recent comments from investor [GEORGE SOROS], who said that the Euro may not survive without a European Union global plan to deal with toxic debt.

GBPUSD – British Pound Forecasts Turned Bullish on Shift in Sentiment...

Oil traders are “seeing a U.S. economic picture that shows no sign of getting pleasant,” said Tom Kloza, publisher and chief oil analyst at Oil Price Information Service. “The recession is deepening.”
The Commerce Department said orders to U.S. factories for big-ticket manufactured goods fell for the fifth straight month in December.
The 5.7 percent drop for the year was the second largest in government records. Manufacturers have cut hundreds of thousands of jobs and millions of jobs have been lost across the entire economy since last year.
A record 4.78 million people claimed unemployment insurance for the week ending Jan. 17, according to a new Labor Department report. A department analyst said that as a proportion of the work force, the tally of unemployment recipients is the highest since August 1983.
Sales of new homes plunged 14.7 percent in December to the slowest monthly pace on record as the hobbled homebuilding industry posted its worst annual sales results in more than two decades.
The Commerce Department said Thursday that new home sales fell in December to a seasonally adjusted annual rate of 331,000, from a downwardly revised November figure of 388,000.
The ailing economy has led to unprecedented declines in the energy consumption habits on the consumer level. Billions fewer miles are being logged on the road. Manufacturer are slashing production, cutting energy use, and people are flying no where near as often as they have in recent years.
The mood is just as grim overseas, meaning that energy demand is falling everywhere.
The International Monetary Fund predicted global economic growth will slow to just 0.5 percent in 2009, down a sharp 1.7 percentage points from its November prediction of 2.2 percent.
“The lower GDP growth will have a significant impact on global oil demand,” JBC Energy said in its market report. “We see global demand falling by as much as 480,000 barrels a day.”
U.S. storage facilities are awash in surplus crude. Storage tanks in the United States are housing more than 338.9 million barrels of crude oil, up from 15.7 percent from a year ago, according to the Energy Information Administration.
Natural gas storage levels in the U.S. dropped more than expected last week, but remain slightly above year-ago levels and the five-year average, a government report said Thursday.
The Energy Department’s Energy Information Administration said in its weekly report that natural gas inventories held in underground storage in the lower 48 states fell by 186 billion cubic feet to about 2.37 trillion cubic feet for the week ended Jan. 23.
The U.S. House of Representatives’ $819 billion plan passed Wednesday night aims at spurring growth amid the worst recession in decades. The package, which includes tax cuts for individuals and businesses, should create or save more than 3 million jobs, President Barack Obama said after the vote. The Senate will begin debate on the bill next week.
Meanwhile, the Organization of Petroleum Exporting Countries said it may slash production again to siphon off expansive crude inventories around the world.
OPEC Secretary General Abdalla Salem El-Badri said Thursday at the World Economic Forum in Davos, Switzerland that OPEC members will fulfill their pledge to slash production by 4.2 million barrels a day by the end of January. He added that global oil demand would pick up “by the end of this year or beginning of next year.”
If needed, “OPEC will not hesitate to take some quantity out of the market,” he said.
Pledges of production cuts, however, have had little effect on oil prices, with demand and not supply ruling the market.
Crude has plunged from a record $150 per barrel over the summer and has held around $40 since the beginning of the year.
In other Nymex trading, gasoline futures rose 2.65 cents to $1.21 a gallon. Heating oil dropped 1.2 cents to $1.4093 a gallon while natural gas for March delivery rose 3 cents to $4.449 per 1,000 cubic feet.
In London, the March Brent contract rose 7 cents to $44.97 on the ICE Futures exchange.

the eur /usd and eur /gbp are pushing . concern at the 9000 handle

[EUR] losses are picking up momentum on the 1.3000 break vs the Usd, with hefty stop losses being tripped under the psych level as we now make fresh session lows. Technical studies look for a 1.2900 target initially, before the first real support starts to emerge (1.2861, 26 Jan low).

Guess he needs to cover shorts.

i think that bull will fall with eur... fill your tanks gasoline going up oil going down...

so maybe we could see oil prices head lower. before heading higher Huh...i love fillin my car with $18 sweet.

[US STOCKS UPDATE] Big banks lead financials and broad market lower in broad sector weakness. Down-stocks top winners by about 2-to-1 while volume is running about avg at midday mark. Nasdaq down over 2%, the Dow somewhat less. Worries over possible huge costs of a bank rescue plan raining on Wed's parade of big govt stimulus coming to the economy's aid before too long. More ugly data in jobless claims and new homes sales added to more gloomy Q4 corp results and moves to cut costs. Energy and tech stocks getting hit hard on a deeper global recession view while more defensive areas as consumer staples and utilities holding up best. Key to see follow-thru as heavy volume under selling is bearish sign of big funds raising cash ahead of Q4 GDP due on Fri, with -4 to 6% drop seen.

might be a strike with refineries gas may go up... but oil supply may peak even more..who knows..speculative

http://uk.reuters.com/article/usDoll...090129?rpc=401&

we could have more room for a drop tonite on Euro session

click link

[LATAM FX EXTENDS LOSSES] Core LatAm currencies remain defensive against a resurgent Dollar. The [Brazilian Real] has continued to drift in recent trade to the 2.2950 region, and a pop to 2.30/Usd and beyond could be on the cards if Wall St and or oil/commodities lose further traction. Despite, the firm Greenback, we still like a long Brl play, and in hindsight a long Brl/Euro may have been the best way forward (Euro recently bashed to session lows of 1.2950/Usd) although it may still may have some mileage (nice carry also). The [Mex Peso] stays near session lows, circa 14.21-14.23, and we would not be surprised to see a further eruption to test its record low of 14.34 soon. The lesser-traded [Col Peso] is also weak and near a 3-month low of 2395, as the CB deliberates another chunky rate cut tomorrow (IGM call 50 bp, some think 100bp). The [CLP] defies relative gravity at an unchanged 612-613.

closed long +30...

I wouldnt be surprised if that happens...