Whats really moving the market today?

Trust me, even Intel are saying the same thing.

However, they found a new material called Graphine, which is much thinner than silicon, so there is some hope for the future.

Well hello to you too. Ever heard of something called a joke? Oh well, I haven't got the time nor the motivation to start explaining. Maybe someone else will. Bye-bye.

What about NZD, I would really like to know what is moving NZD these days.

NZD follows gold and AUD very closely, but NZ does not produce any gold nor have an economic scale as australia. last week's AUD sell off does not seem to affect NZD, it is holding very well against USD. Funny thing is, with strong nzd, we still pay 40% more in fuel price than Australia, inflation is still very high. Imported goods are not selling even with low price. Overall economy is not looking good. what basis do speculators use to bid NZD? the interest rate is also less than AUD. I am quite surprised with NZD being so strong. can someone tell me why

Hi soatosky

Not a big follower of NZD but i know that China has been buying ALOT of wool... I have a feeling it's something to do with that, just trying to find a chart...

NZD follows gold and AUD because its a commodity currency and so is affected by the same market cycles in terms of risk and the USD side of things (as Commodities are generally priced against USD)

You pay 40% more fuel than Australia because your exchange against the USD rate is much less

and to add to that Australia is NZ main trading partner and with the AUD at record highs it must be costing a fortune to import goods adding to the inflation

Wool:

Milk!

Cheers for the link RJ

No worries

Hi gang! I've been analysing my trade journal and I confirmed what I suspected - trading the fiber and yuppie at the same (charts side-by-side) results in a lot of bad trades. For some reason the bad trades are accumulating on the yuppie so I've decided to stop trading the pair. From now on I will only be trading one pair - fiber. This means my coverage of Japan will drop off dramatically, however, I will still be covering Japan in my weekly focus. I've been trying to get a hang of my trading and the yen has been a constant obstacle in this risk on, risk off market.

EDIT
Market News
Greek default could hit other ratings: Moody's
LONDON (MarketWatch) -- A default by Greece would likely have an adverse impact on other European sovereigns as well as Greek banks, ratings company Moody's Investors Service said Tuesday. A Greek default could take many forms, including a "re-profiling" and large-scale voluntary debt buybacks at high discounts, the ratings company said. Any default would be likely to not only result in a downgrade for Greece, but would have an adverse impact on other stressed European sovereigns and Greek banks, "regardless of the efforts made to achieve an orderly restructuring," Moody's said. "The full impact on Europe's capital markets would be hard to predict and harder still to control" and could have implications for the creditworthiness and ratings of issuers across Europe, the company said. The impact on Greece's creditworthiness would depend on how much the default lowers the face value of Greece's outstanding debt and improves the affordability of its debt obligations. Greece's sovereign rating would most likely fall to a Ca or C from its current level of B1, Moody's said. (LINK)

Greek Opposition Says Rejects New Austerity Plan (LINK)
Greeks still think they are in a position to make decisions.

New story out from Spiegel: ECB's Balance Sheet Contains Massive Risks
Read it here.

There is also news out that Goldman has flipped their stance on commodities (again). No link.

Dovish notes from Bullard yesterday helped cap the dollar's advance. No link.

Yeah the Yen moves differently to all other pairs, it's becasue of the carry trading it attracts,, The other thing about the Yen is that its actually better for the country when its weak becasue it's entire economy revolves around exporting so they like to keep it weak and competitive by any means possible! Lots more central bank manipulations

Not a massive follower of the Yen either but that's always been my impression of it

Its very simple answer...
80 % of Forex Volume is speculative in Nature and that is why traders dont know how much Forex is risky and why you need big knowledge,some luck and big discipline to hope for some return at end of year...

Best Regards
Petar

Anyone, can you tell me what your signature is and where is it ??

You haven't got one......mine is at the bottom of this post. It says Hasta la victoria siempre

Awesome che cool, how do you put it there thanks

Many thanks people, been if FF for years, never bothered with all the periferal stuff, only got a picture thing yesterday, learn something new everyday

Yep...just like Cindy says

kkiubiiuniun test

Your sig works... Feel free to delete your last 3 posts

A very personal opinion but i think u dont need to cover Japan even if u trade the Yen's all day. Same goes for CHF's too.

Cause i dont see anything that happens frequently enough to move the Yen's except intervention talk, big risk events like EQ's and rating's talk here and there etc.

If u are covering USA u can trade USDJPY easily (we know how much sensitive UJ is to yields in US).

and if are covering UK and Eurozone u can trade GJ and EJ comfortably too.

Orderflow resulting in important data figs coming out in Japan pretty much dry up too before London opens so that feature goes away too.

Just my personal opinion.
.

Just doing the rounds so I can at least keep up with what's going on for when exams are done. Here's some Euro info

1. Greek CDS Make A New Record - 24 May 2011

They’ve reached 1496 bp, up over 5% again today. Bloomberg reports that at this price, they reflect a 71% chance of a Greek default in the next 5-years (the length of the contract).

LINK

Following this:

1. Bini-Smaghi: Greece won’t get next installment of loans if doesn’t meet EU/IMF conditions - 24 May 2011
   

1. Greek restructuring would collapse system
2. No investor would be ready to swap Greek bonds for one with longer maturities
3. ECB holds relatively small amount of Greek securities; not worried about capitalization
4. ECB has will to and will act again if we see inflation above target

LINK

But unfortunately this scenario has presented a wonderful time for political leaders to flex their muscles, adding more fuel to the uncertainty

 

1. Greek Opposition Leader (and several others) Reject New Austerity Plan- 24 May 2011

ATHENS (Dow Jones)--The leader of Greece's main opposition party Tuesday rejected the government's latest measures to reduce the budget deficit and criticized the ruling party for following a misguided policy of fiscal and economic reform.

Speaking after a meeting with the country's prime minister, New Democracy party chief Antonis Samaras said that the new measures would deepen Greece's recession and do little to close the country's budget gap. "I am not prepared to consent to this demonstrably wrong policy," Samaras said in a televised statement.

On Monday, Greece's cabinet broadly approved some EUR6 billion in new austerity measures to narrow Greece's budget deficit this year, as well as steps to speed up the government's ambitious privatization drive. Prime Minister George Papandreou is holding a series of meetings with the heads of Greece's opposition parties Tuesday in an effort to build a national consensus for further reforms.

LINK

 

1. ECB Update: Hawkish But More Cautious After Mid-Month Meeting - May 24, 2011

FRANKFURT (MNI) – The European Central Bank’s communication following the mid-month meeting on Thursday remained hawkish but somewhat more cautious, suggesting that the Governing Council has closed the door to a rate hike in June.

<snip>
Executive Board member Lorenzo Bini Smaghi on Tuesday sounded a surprisingly cautious note. “We will do whatever is needed to maintain inflation low,” he said. But he added: “Of course, it’s a medium-term objective, so we have to avoid overreaction.”

Bini Smaghi had positioned himself as one of the most hawkish Council members in recent months. His comments — among the first policy-relevant remarks since the mid-month meeting — may thus be particularly revealing.
<snip>

<snip>
Rather, the more cautious tone may be an attempt to more actively discourage expectations of a hiking cycle at a time when commodity prices are volatile, the economic outlook is clouded, and sovereign debt tensions are reaching fresh peaks.
<snip>

<snip>
While indicators still point to an ongoing albeit slower recovery, the Bundesbank warned that a “tension-free environment” is needed to ensure that the still-positive outlook materializes.

The current environment can hardly be described as free of tensions. The ECB may have realized that in this environment, more caution may be warranted than the recent hawkish rhetoric had suggested.
<snip>

LINK

Uh-oh...

 

1. Your Next Greek General Strike - May 24, 2011

Get your Molotov cocktails ready, it’s strike time again. The Greek unions will be holding a strike on June 4 to protest austerity, Bloomberg reports.

LINK

BUG AND CINDYXXXX MY HEART GOES OUT TO YOU WHEN YOU MAKE THESE THINGS - THEY TAKE SO LONG!

She's actually been quite busy as of late.

Regards,
xXTrizzleXx

EDIT: Realized some of this info was re-gurgitating bug's posts, so said material has been extracted.

Anyone watch the stop hunt on the AUD/USD?

First stab fell short of 1.0470
IFR reporting 100-200mln below 1.0470
Forexlive reporting hedgefunds selling

Update: Stops taken out

Update:
More stops below 1.0400
barrier talk 1.0300/1.0250
Large stops 1.0350
Looks like short profit taking off of 1.0440

Update:
Mideast names seen on bid(link)
More Hedge funds joining in on the selling
US bank seen selling(link)
Large NY option expiry @ 1.0425 expecting more downward pressure

Euro finally gets some good news