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  • #303,641
  • Oct 10, 2010 1:53pm Oct 10, 2010 1:53pm
Quoting Xaron
I tend to disagree. The SNB is a joke compared to the power of the BOJ and the BOJ will win this fight, I have no doubts. They'll just buy here and there for a push up of 100-400 pips and just sell their stuff again when the USD/JPY is above 90/100 again (which is only a matter of time). They have really, really deep pockets (and I mean REALLY DEEP) and a huge surplus.
In other thread I posted that BOJ intervention cannot last if not supported by market...When market decide to go long UJ then there is no need for intervention and if intervention happened in meanwhile then for success need market's support otherwise is comical intervention.
The Market pays you to be disciplined
  • #303,642
  • Oct 10, 2010 1:55pm Oct 10, 2010 1:55pm
Quoting DMA Trader
If nothing is done. they will probably take 1'st spot.
Do you watch what the Chinese are doing in Africa. Taking over everything. Every resource there has Chinese interest all over.
yes. i would think i have a few hundred post over the last few years saying what your link says.
those who can, do. those who cant, talk about those who can
  • #303,643
  • Oct 10, 2010 1:59pm Oct 10, 2010 1:59pm
good evening.
  • #303,644
  • Oct 10, 2010 2:07pm Oct 10, 2010 2:07pm
Quoting Xaron
I tend to disagree. The SNB is a joke compared to the power of the BOJ and the BOJ will win this fight, I have no doubts. They'll just buy here and there for a push up of 100-400 pips and just sell their stuff again when the USD/JPY is above 90/100 again (which is only a matter of time). They have really, really deep pockets (and I mean REALLY DEEP) and a huge surplus.
sure they do. they already owe 100% of gdp.. so for every yen they take, in its already spent and they still owe another. stick a fork in the dragon. they cant keep up or compete with S, Korea/ china or s.e. Asia who dont have these cost in their emerging markets. .. those w.o commodities like Europe and japan are on borrowed time because of social cost. . the u.s. is not far behind. but they still have commodities...
those who can, do. those who cant, talk about those who can
  • #303,645
  • Oct 10, 2010 2:07pm Oct 10, 2010 2:07pm
Quoting Xaron
I tend to disagree. The SNB is a joke compared to the power of the BOJ and the BOJ will win this fight, I have no doubts. They'll just buy here and there for a push up of 100-400 pips and just sell their stuff again when the USD/JPY is above 90/100 again (which is only a matter of time). They have really, really deep pockets (and I mean REALLY DEEP) and a huge surplus.
I agree to that statement BOJ vs SNB
But BOJ also had some intervention in FX in 2004 and JPY ended the year higher
Something is way powerful there if now they have 0% interest and JPY keeps going higher.

So you tell me what is going to stop a currency that has safety and also fundamentals. We will se as time goes by. But from 2000 I hear the same thing. JPY is going down because Japanese are old and exports are going down.
YET the market keeps on buying JPY.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #303,646
  • Oct 10, 2010 2:09pm Oct 10, 2010 2:09pm
Quoting chonchy
lower dollar is good for the economy of a few big corporations that export products but is no good for my home town (hialeah) for example becasue since I came from cuba in 1980 all manufacturing is gone with the wind, or to china should I say, so all is left is a devalue dollar that has make everybody loose their homes and need a gadzillion dollar to buy bread and milk at the supermarket, but thanks to Obama we got food stamps and unemployment checks for the gas, I wonder when all this is gone with the wind too what is going to be left, war on the...
well so what is the other way. how can a strong dollar help a nation full of debt and a big exporter such as USA ?
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #303,647
  • Oct 10, 2010 2:10pm Oct 10, 2010 2:10pm
Quoting mima
In other thread I posted that BOJ intervention cannot last if not supported by market...When market decide to go long UJ then there is no need for intervention and if intervention happened in meanwhile then for success need market's support otherwise is comical intervention.
exactly.

my opinion is that when FED raise rates USD/JPY will go through the roof.
But we are no where near that moment. at list 2 years maybe less.

imho
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #303,648
  • Oct 10, 2010 2:14pm Oct 10, 2010 2:14pm
WASHINGTON— The International Monetary Fund's annual meeting this weekend failed to ease currency battles roiling markets, pushing the dispute off to a summit next month of leaders of Group of 20 countries, with no clear resolution in sight.

The meeting Saturday might have been more significant for possible solutions ruled out. Chinese central bank officials rejected calls for an international or regional currency accord, and the World Trade Organization's chief said his institution didn't want to get involved in exchange-rate fights.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #303,649
  • Oct 10, 2010 2:17pm Oct 10, 2010 2:17pm
Quoting chonchy
lower dollar is good for the economy of a few big corporations that export products but is no good for my home town (hialeah) for example becasue since I came from cuba in 1980 all manufacturing is gone with the wind, or to china should I say, so all is left is a devalue dollar that has make everybody loose their homes and need a gadzillion dollar to buy bread and milk at the supermarket, but thanks to Obama we got food stamps and unemployment checks for the gas, I wonder when all this is gone with the wind too what is going to be left, war on the...
this candle has been lit long before bobama. usd was cheaper in 2007 when dow was at its all time high... we aint there yet..it was bs then as it is bs now.. but we are not there yet. when enough get sick and tired they will kick china in the nutz.. until then. standard of livings go down. and we buy less crap...
those who can, do. those who cant, talk about those who can
  • #303,650
  • Oct 10, 2010 2:17pm Oct 10, 2010 2:17pm
According to interbank markets we've been as high as 1.3993 today.
Currently 1.3982
  • #303,651
  • Oct 10, 2010 2:19pm Oct 10, 2010 2:19pm
Just remember folks...buy low-sell high & you should be ok.
  • #303,652
  • Oct 10, 2010 2:20pm Oct 10, 2010 2:20pm
Quoting DMA Trader
I agree to that statement BOJ vs SNB
But BOJ also had some intervention in FX in 2004 and JPY ended the year higher
Something is way powerful there if now they have 0% interest and JPY keeps going higher.

So you tell me what is going to stop a currency that has safety and also fundamentals. We will se as time goes by. But from 2000 I hear the same thing. JPY is going down because Japanese are old and exports are going down.
YET the market keeps on buying JPY.
crash and burn..... Houston we have a problem
those who can, do. those who cant, talk about those who can
  • #303,653
  • Oct 10, 2010 2:20pm Oct 10, 2010 2:20pm
Quoting DMA Trader
I agree to that statement BOJ vs SNB
But BOJ also had some intervention in FX in 2004 and JPY ended the year higher
Something is way powerful there if now they have 0% interest and JPY keeps going higher.

So you tell me what is going to stop a currency that has safety and also fundamentals. We will se as time goes by. But from 2000 I hear the same thing. JPY is going down because Japanese are old and exports are going down.
YET the market keeps on buying JPY.
Fundamentally the Japanese savings are better be placed in higher yielding currencies like the AUD.
  • #303,654
  • Oct 10, 2010 2:21pm Oct 10, 2010 2:21pm
Quoting ferndog
Just remember folks...buy low-sell high & you should be ok.
I would rather Buy high and sell higher.
Sell Low and buy Lower.

but that's just me.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #303,655
  • Oct 10, 2010 2:23pm Oct 10, 2010 2:23pm
Quoting hutrader
According to interbank markets we've been as high as 1.3993 today.
Currently 1.3982
Today? I am dbfx and the market is not open.
If you're not part of the solution then you're part of the problem.
  • #303,656
  • Oct 10, 2010 2:23pm Oct 10, 2010 2:23pm
Quoting hutrader
According to interbank markets we've been as high as 1.3993 today.
Currently 1.3982
We were as high as 1.4000 a few minutes ago. Chickened out from my longs just below 1.4000, fearing this gap may tend to fill.
The Thief of Wall Street
  • #303,657
  • Oct 10, 2010 2:28pm Oct 10, 2010 2:28pm
The global trading has started ..another exciting volatile week with twists and turns..trillions of dollars will be traded in all markets all over the globe.

I feel nostalgia on Sunday evening as global trading starts. Friday evening- Sunday evening- great rest specially mental rest and now as global trading starts, prepare for ups and downs !

I am a futures trader, so i have to wait for many hours more before exchange opens !
  • #303,658
  • Oct 10, 2010 2:31pm Oct 10, 2010 2:31pm
Quoting kingfisher
The global trading has started
Where do you see the quotes? Tks.
If you're not part of the solution then you're part of the problem.
  • #303,659
  • Oct 10, 2010 2:32pm Oct 10, 2010 2:32pm
Quote
We were as high as 1.4000 a few minutes ago. Chickened out from my longs just below 1.4000, fearing this gap may tend to fill.
_________________

Good to see you Chicky again in trading business. Insha Allah, you will come out in flying colours in your trading business.
  • #303,660
  • Oct 10, 2010 2:33pm Oct 10, 2010 2:33pm
Markets are open ... and it opened with a small GAP of aprox. 15 points at the upside with first INTERBANK rates from Wellington based Banks, Finance Services and Trading Desks ...


Euro popped up quickly aprox. 50 points higher (now close to 1.40) as you can see in TABLE below:

http://cdn.forexfactory.com/images/attach/pdf.gif

2010-10-10_20h50_Interbank Foreign Exchange Rates (Ouverture 41).pdf (10.3 KB)


;-)
Attached File(s)
File Type: pdf 2010-10-10_20h50_Interbank Foreign Exchange Rates (Ouverture 41).pdf   10 KB | 669 downloads
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