EURUSD

http://www.stratfor.com/analysis/201...p_june_16_2010

"USS Harry S. Truman departed Marseille, France, after conducting a fleet visit and exercises with the French navy. It is currently deployed supporting maritime security operations and theater security cooperation efforts in the U.S. 5th and 6th fleet AORs."

I don't know guys, I really doubt this has anything to do with Iran, and more with Somali pirates.

God help them and the rest of us. How do we make money out of this?

Merci

Just an update currently Short E/U long U/C, U/C breached the TL closed above it and so far it is holding.

"
SHANGHAI (Dow Jones)--Should investors get excited about China's latest pledge to increase the yuan's flexibility in the foreign exchange market? Yes and no.

Yes, because the People's Bank of China's initial announcement Saturday suggested that the yuan's 23-month-old de facto peg to the U.S. dollar is dead.

The central bank also hinted strongly that it would now tolerate some gradual appreciation of the currency.

No, because a lengthy and equally obscure follow-up explanatory statement Sunday by the central bank made it clear that Beijing still wants

a "basically stable" currency and there will be no one-off revaluation.

So what to expect in the coming days and months?

First, in the runup to the Group of 20 summit in Toronto next weekend, the PBOC is likely to engineer some symbolic gains for the yuan against the greenback,

since the timing of the policy announcement was clearly aimed at easing resurgent international criticism and making President Hu Jintao's meeting

with his U.S. counterpart at the summit a congenial occasion.

While offshore speculators may rush to price in short-term spikes in the yuan's value in the lively non-deliverable swap market, the PBOC will

probably only tolerate tiny increments for the currency in the near term via the setting of the daily dollar-yuan central parity.

Some traders expect that the central parity could be fixed as low as 6.8265 Monday, or 10 points below Friday's 6.8275. Given the fact that the

fixing has been hovering in a narrow range of 6.8259-6.8284 so far this year, this would be no mean feat.

But after the G20 summit is over and assuming Beijing avoids being labeled as a currency manipulator by U.S. legislators, the yuan will be back in uncharted territory.

That's because politics rather than economics was arguably the single biggest driver behind China's latest policy announcement.

Despite the various long-term economic benefits of a strong yuan touted by economists and even the PBOC itself, it would be wrong to

assume that China has really become more accepting of a more liberal currency policy.

Actually Beijing even contradicts itself.

The PBOC said conditions are ripe for it to make the yuan more flexible because both domestic and global economic recovery is on track.

But just a few weeks ago Premier Wen Jiabao warned that China should avoid exiting its broad-based economic stimulus too soon and too firmly.

For sure, China's economy stayed in robust shape in the first quarter, delivering a stunning 11.9% growth rate, but it's widely expected to suffer

a slowdown in the second half of this year due to domestic property tightening measures and a weakening European economy.

At the same time, China is suffering a fresh wave of labor shortage and wages are rising sharply across the country. With its economy still heavily

dependent on exports, a stronger currency will only make things worse.

Beijing is conscious of the risks.

In the PBOC's follow-up statement on Sunday, it stressed that the yuan's exchange rate will be flexible "in both directions."

"Realizing two-way fluctuation of the yuan's exchange rate stems from the need to strengthen the independence and effectiveness of China's

macroeconomic policy and to cope with different scenarios of external shocks," the PBOC said.

In other words, the yuan can go up or down from now as deemed appropriate.

So the real intention behind the latest policy move could be this: while buying some time from the international community for itself,

China will gradually encourage two-way moves for its currency without tweaking the existing exchange-rate mechanism.

So don't be surprised to see the yuan weaken again further down the road and hear Beijing attribute it all to a "more flexible" currency policy. "

DJ futures again rising to 10550, level looks stable.

whoaa dude kinda huge.....just post a link please

Attacking or even provoking Iran would be so wrong!

Like you have anything else to read right now???

No link, it came off DJ wire inside MT4.

I predict a move to 1.2590 before meeting with resistance.

Been on http://debka.com/article/8862/ since yesterday...

No problem brother

Hi all, this is what it looks like to me right now. Good luck this week.

WOW global stock futures flying. DJ now at 10568, Nikkei is in the air.

Rally is continuing... amazing!

And talking nice to craziness soon to have nukes really does alot of good too? I think not. Talk to this kind of regime is a cheap joke. A large percentage of the people there WANT the current regime overthrown so they can be free. It's a pay now w/o nukes or pay later with nukes situation IMO.

I am just getting shocked. I missed the short from the top, now long... I hope for the best. Anyway... you hold so different opinions, but GOOD LUCK for the week, everyone!

I'd be careful around here. This is like a big magic trick. Smoke and mirrors > reality, but for how long?

Japan is really rocking it right now, shot right through resistance, let's see if they hold.