About Currency Currents

With Currency Currents, you can stay tuned-in to our current global-macro view and our analysis of key investment themes driving currency prices.

We consistently focus on the key asset classes responsible for the flow of global capital -- including equities, fixed income, commodities and, of course, currencies.

Nothing is off limits to us in this free-wheeling look at the markets. Some days you’ll receive ramblings on trading psychology, while other days we may take an academic approach in explaining esoteric economic issues. Ultimately we have one goal in mind: to help you get a handle on the key investment themes driving global capital flow. Because if you know where the money is going, it increases the probability that your position in the market will be a profitable one.

Who is Jack the Pipper?

Jack Crooks is Black Swan Capital LLC, President and Chief Trading Officer.

Jack is founder and president of Black Swan Capital LLC. He has also operated a discretionary money management firm specializing in global stock, bond, and currency asset management for retail clients. In addition, he was general partner in a firm specializing in currency futures and commodities trading. Neither firm is now in operation.

Prior to entering the investment arena, Jack worked in various corporate finance positions. He has written extensively on the subject of global currencies and international economics.

Del.icio.us Bookmark

Technorati Favorite

Latest Posts

January 2009

S	M	T	W	T	F	S
				1	2	3
4	5	6	7	8	9	10
11	12	13	14	15	16	17
18	19	20	21	22	23	24
25	26	27	28	29	30	31

New High in Gold and a GBP Rogers rally?

Posted 08:31 26 January 2009

Key News

Political leaders and central bankers will dominate this week's annual Davos forum as a chastened business elite is sidelined in the drive to reboot the world economy, improve global security and slow climate change. (Reuters)

Key Reports (WSJ):
10:00 a.m. Dec Existing Home Sales: Previous: -8.6%.
10:00 a.m. Jan Conference Board Leading Indicators: Previous: -0.4%.
10:30 a.m. Jan Dallas Fed Mfg Production Index: Previous: -21.

Quotable

"Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window.”

Peter Drucker

FX Trading - New High in Gold and a GBP Rogers rally?
All things gold are glittering in light of a deepening global recession/depression as the muckedy-mucks file into Davos to once again enlighten the world and cook up assorted conspiracies for the New Year, and in addition huddle to determine who was responsible for the grand scheme going badly wrong in 2008 (they will likely blame the many leading flames of finance who won’t be attending this year for assorted reasons ranging from job loss to jail time). Are we finally seeing the fear move into gold that many have been predicting? Maybe! Gold made fresh new all-time high today!

But gold was over $1,000 an ounce back in March you say…it only just broker $900 today. Well, true that! However, when you examine the price of gold in weaker currencies, such as the euro and pound, the fresh new high is on display…

Is a dollar correction in the cards, or does it tell us something about the potential for gold and the dollar to decouple from their usual negative correlation and move higher together as they have of late?

Gold vs. US$ Index 240-min:

Or maybe a Jimmy Rogers rally is in the making?

As you likely know, Jimmy Rogers made yet another big call. He told everyone to sell all things UK. Bold he is since the pound is only down from 2.11 against the dollar to 1.3800-level when he uttered his latest very public pronouncement. Given our view of the man who never met a microphone he didn’t like, it makes us very nervous now residing in the same camp. Given the nature of Mr. Market’s ability to punish extremism and one-way-bets, it would be fitting to see some type of rally in Cable at least over the near term:

GBPUSD Daily: