Market News

Whew! The frenzy from last Friday’s fireworks seemed to die down yesterday. With today’s set of economic reports, is it time to turn the risk aversion switch back on? Read my roundup to find out!

Since the break of the Goldman news, CNBC has turned itself into all-Goldman-all-the- time. So, I preface this by saying there isn’t too much left to say, given what we do know now, but it’s just too darn fresh not to say something…

Last Friday, the US SEC accused financial giant Goldman Sachs of fraud, saying that they failed to disclose that one of its security products was created by the same people who wagered that it would fail. Hah, talk about a conflict of interest!

Oh boy, another weekend gap! But this time, the gap leaned in favor of the USD! Wanna know what caused this? Check out today’s roundup to find out!

This ain’t your grandfather’s business cycle despite growing confidence about the coming V-shaped recovery.

Oh wow, just when you thought the Greece debt drama was coming to an end, Greece goes ahead and quickly changes its mind about the loan offers from the IMF. So much for the run in risk appetite earlier this week!

First, “Do not let the yuan’s exchange rate issue become the scapegoat of U.S. domestic economic problems, including their unemployment,” said a Chinese Ministry of Commerce spokesperson.

In his testimony yesterday, a downbeat Ben Bernanke highlighted the weaknesses of the economy and confirmed that interest rates will remain low for an extended period of time. Hold on just a second… Is Big Ben really talking about the US?!

Good day Forex friends! Welcome to another day of currency trading! Find out what’s on the economic front on our daily economic roundup!

We noticed the comment from Jim Chanos, he of hedge fund fame and loudest bear on China. He told Bloomberg that China was on a “treadmill to hell.” I would add, if China becomes the hegemony power we are all on a treadmill to hell, but I digress.

Let’s face it. The prospect of accelerating inflation is worrisome for some, particularly for consumers. After all, who would be comfortable with rising prices of goods? But is this fear really warranted or is it just exaggerated?

Yee-haw! Wanna get up to speed with the wild price action in the currency markets? Check out my daily roundup! With a bunch of top-tier reports due today, things could get rowdy!

Minus the chance that some lunatic is streaking through your living room, I think the pearls of wisdom in the above quotable can easily be applied to so many real-life situations these days.

Extra! Extra! Read all about it! China suffered its first trade DEFICIT in six years. Gasp! All the more reason to keep the Chinese Yuan pegged to the US dollar?

Mixed trading in yesterdays showdown as the dollar was up against some, but down versus others. With not much high impact data today, could we see the currency pairs bounce between yesterdays highs and lows?

It’s always difficult to pinpoint where we are in terms of a trend. Long-term trends in the currency markets have ranged from six to ten years, measured by the various bull and bear markets in the dollar since the inception of the free-floating currency market back in 1971.

Zooey Mama! Just when you things couldn’t get any wackier with Greece, the EURUSD opens this week almost 100 pips higher. After closing last week at 1.3496, the pair found gaped up to kick off the week on a high note at 1.3590!

Ah, the wonders (or pitfalls) of weekend risk… I hope none of ya got burned by that crazy gap over the weekend! If you’re still at a loss as to what happened, Pip Diddy’s here to tell you all about it!

Where does one hide if bond markets everywhere look risky at the same time? In another excellent article by Ambrose Evans-Pritchard at the UK Telegraph, sent to us by a friend, Ambrose summarizes the latest very scary warnings from the Bank of International Settlements about sovereign debt crisis

TGIF! But before we all go packing for the weekend, go read first my daily economic roundup!