EURUSD

Aussie could be off to the races again.

Hey there! Done with sailing for now. Two years of glorious goodness, but alas all good things must end (for now). Back to the trading thing. Kinda feel like a newbie, getting my feet wet again. Lot's has changed, but all's the same, eh?

Happy moneymaking to ya...

any readings on gold and 2k?

I am thinking wait for a longer short setup... Who is left to buy? How much more financial hate is left?

a few more levels on the weekly/monthly chart, if 4540 goes on a breakout, 4599 is its next higher conterpart...

I reckon you saw AU?

quite comfortable with that one this time...

Howdy Ken, hope youve made some moola today... i got some off that lovely AUD spike before And yes weve been discussing more of it at the AUD thread with our homie 2+2 and others... you guys all still thiking short EUR? Looks a little pregnant for a breakout to me right now? Agree with Gator that we have a bit of a brick wall at 456x-7 area... not sure i have the guts to jump in or not, you guys are spooking me with your short talk!

Two years of glorious goodness...tough to beat, my friend! Really glad to hear it.

You'll lose the noob-webs in a blink...some things never change! Good to see you around...hope to see more of you.

Happy moneymaking to you, too. All the best!

I saw, I mean that thing is unreal...huge bubble, some day......sure its a good currency, one of the best, but I think I was talking to a cab driver who had a AUD money market....

China’s hands tied on U.S. debt threat

Beijing worried about downgrade, but can do little for now

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By Michael Kitchen, MarketWatch
LOS ANGELES (MarketWatch) — China is certainly concerned about the U.S. debt impasse, but unlike in past situations, Beijing has little choice but to cross its fingers and hope its vast holdings of Treasury notes keep their value, according to Chinese market participants.
As the top holder of U.S. sovereign debt, the Chinese government has reason to be nervous, but an actual default is not at the top of its list of fears.



“At the current moment, they are worried about a downgrade,” but they think a default probably won’t happen since the delay in a U.S. debt-limit hike is due to “typical tactics between the Democrats and Republicans,” said DBS Vickers director Peter Lai in Hong Kong.
Click to Play http://m.wsj.net/video/20110727/0727...y2_512x288.jpg
Asia Today: Gridlock hits dollar

The U.S. dollar is falling to multi-year lows against Asian currencies as the U.S. debt gridlock continues.

Recent statements out of Beijing back this view. In the latest of such comments, two Chinese government economists were quoted in the state-run China Daily on Wednesday as saying a default is unlikely. See report on Chinese economists’ remarks on U.S. debt.
A downgrade to U.S. sovereign ratings is, however, a larger concern, both in China and across Asia. See story on Asia's default worries.
Ben Kwong, chief operating officer at investment house KGI Asia, says U.S. dollar weakness is also a concern, especially if a downgrade extends the greenback’s recent fall, as this significantly weakens the value of Treasurys.
China has already sought to diversify its foreign-exchange holdings away from Treasurys, with DBS Vickers’ Lai saying such a move has been underway since the 2008 collapse of Lehman Brothers.
Kwong adds that the edging away from U.S. government paper has involved not just the Chinese government, but also state-owned companies that hold Treasurys.
“The question now is whether they should speed up their asset diversification,” Kwong said.
China’s hands tied

In the past, China has sometimes managed to get its way with Washington. In 2008, for instance, Beijing reportedly pressured the then-Treasury secretary Henry Paulson to make sure Freddie Mac and Fannie Mae bondholders — of which China was a major one — wouldn’t take a bath on the paper.
But in the current situation, China has far less leverage.
Part of the problem, says Kwong, is that Chinese foreign-exchange reserves are so large that a major portion of its funds must be in Treasurys, which are one of the deepest and most liquid markets in the world.
“There’s not too much choice in the market, since the U.S. dollar is still the major currency worldwide,” he said, adding that alternatives, such as euro- and yen-denominated paper, are also dogged by serious sovereign-debt concerns.
“The whole global economy is in pretty bad shape,” Kwong said.
And, he added, unlike in the case of Fannie and Freddie, U.S. officials have limited power of their own, since the debt impasse is political in nature and something the White House and Treasury would love to solve if they could.
Even if Washington could unilaterally resolve its debt and deficit problems, it would be unlikely to act solely on China’s behest, says Lai.
“Ever since the Lehman bankruptcy, the mainland [Chinese] government has been in constant talks with the U.S. … but the U.S. doesn’t always listen” Lai said.
What next?

Kwong said that a serious hit to Treasurys or a further drop in the U.S. dollar could cause consequences beyond just speeding up Chinese diversification away from U.S. government securities.
China could theoretically reexamine its management of the yuan, and Hong Kong might look more seriously at dropping its peg to the U.S. dollar, though it’s still “too early to say what would happen,” he said.
Certainly, China has been encouraging its state-owned firms to acquire assets overseas to hedge against losses in their dollar portfolios, and this could increase.
But DBS Vickers’ Lai says that if the U.S. debt storm passes with little damage, Treasurys could still prove a good bet, and many in Asia believe Washington could start tightening monetary policy next year, sending dollar-denominated paper higher.

Michael Kitchen is Asia editor for MarketWatch and is based in Los Angeles.

Anyone who also follows random science news ... Might find this interesting

http://www.christianpost.com/news/do...ars-end-52850/

Morning , so it was bull without me & 4538 reached in a bear flag & wave 5th in a mofu , next level may also reach 4578 but next consolidation very likely to 4280 nad 4214 limits & breaks not unlikely this time to 4028 around if ( close price ) .
lets see .scalping with short bais now .
fontu

I dont like that cab drivers have the same as me but after the spike today it should be set........ 1.1500.....we discussed this earlier right?...

However, I am very, very, very happy with that position now.. Still havent moved SL into profit though..

Neither have I started to calculate how much more I can take so there should be some room upwards...

The bridge on "Level 1.4500"

http://goldseek.com/news/CliveMaund/2009/5-17cm/6.jpg

today the Core Durable Goods Orders m/m is going to be released, so how will that affect the eur?

say if it was bad for the usd (actual was lower than forecast), would that mean that the eur will go higher?

going short @523

snapshot, 15:17 is up to date any other time is from yesterday... (sydney)

Well there is not reason not to be buying it I guess. Hell, 1.15 might be a half days work. People forget that markets can crash to the upside also. Just be out before the 6-700 point pullback thats all...

are those russian ADR's?

The thing is I make alot just from the rollover there so carry trades fare well... we will see, we will see...

Used it for years

http://www.forexpf.ru/_quote_show_/java/