Pro Swing Trading

The BoC Monetary Policy Report includes an evaluation of the impact of the European debt crisis to the Canadian economy: "The sovereign debt crisis in Europe is expected to affect the global and Canadian economies through both trade and financial channels. Accelerated fiscal consolidation and tighter credit conditions in the euro area will reduce domestic demand in that region, thus decreasing European demand for imported goods and services."

While mentioning its influence on global recovery: "Since much of this debt was held by banks across the euro area, concerns were also expressed about the resilience of certain banks. These concerns and the resulting financial market tensions have increased uncertainty about the global economic recovery."

what do you use for a SL?

you means a system for calculate stop loss or amount of stop loss?

for your trades

usually 80 pips

The dollar shot higher versus the euro Friday morning as investors worried that the "stress tests" on European banks were not stringent enough.

Regulators decided to release the stress tests for 91 European banks to try and reassure investors worried about the hit to the banking system from the deteriorating economic growth and debt crisis in several countries that use the euro.

In morning trading in New York, the euro slid to $1.2830 from $1.2895 late Thursday. It had earlier in the session risen to nearly $1.30.

There are reports that the tests will not factor in worst-case scenarios of a default on sovereign debt by Greece, Portugal or Spain, and will calculate the costs of a debt restructuring in a way that doesn't fully capture the damage to a bank's balance sheet, said currency analyst Win Thin of Brown Brothers Harriman.

It wasn't a bad week - Thanks, Nick!

have a nice weekend everybody

We got +190pips on official and lot of pips on unofficial calls, soon will add them results too.

Thanks Nick!

Morning,

I hope you had great weekend and ready for new pips hunting...

The Canadian dollar traded sideways against its U.S. counterpart on Monday, lacking significant direction as equities were mixed ahead of key U.S. economic data.

U.S. stock index futures were flat in advance of new home sales figures later in the morning, while the euro, a recent proxy for risk appetite, erased early gains as caution set in folling Friday's release of European banks' stress test results.

"I think we'll probably see the equity risk sentiment correlation moving around a bit," said Sacha Tihanyi, currency strategist at Scotia Capital.

"The futures market in the U.S. is kind of oscillating between gains and losses, not showing us too strong a direction. Europe is kind of mixed so I think it's just a yet-to-be decided kind of sentiment day."

As trading idea U/CAD has short setup...

Thank you!

Nice call Nick, also the EU last night was great aswell

The largest European banks should find access to
wholesale funding markets easier in the wake of last week’s results from
the EU bank stress tests, according to Fitch Ratings.

Fitch said the fact that EU bank supervisors had published the
stress test methodology had eased market concerns over the potential
impact of a sovereign debt haircut.

James Longsdon, managing director of financial institutions at
Fitch, said that Europe’s largest banks had passed the tests
‘comfortably’.

“Comfortably enough in fact to ease some of the market’s
concerns…Such banks should be better placed to access funding markets.
The publication of the data and methodology overcame a hurdle the market
wanted to see, this should make access easier in the future”.

Longsdon added that ratings agencies will closely monitor banks’
access to the wholesale funding market.

“The heart of our concerns over the last few months have been that
certain banks in Spain, Portugal and Ireland, Greece have problems
accessing wholesale funding markets, whether that be the term-loan
markets or the short-term markets and this is likely to be the major
ratings focus in the near and immediate term,”

Hi,
As trading idea G/CHF has long setup...

lol....somewhere near there, yes. 6184 or 6163 I think.

will gchf cross 1.6181?

Hi Nick,

Tks for the invitation. Just start with a hello first.

Cheers
City