Latest trading commentaries...
Where volatility might provide opportunity it can also burn your fingers
Simon Denham, Capital Spreads
The last few days have been tumultuous to say the least and clients have been finding conditions tough, really tough in fact buying into the dips hoping for a rebound but being stopped out soon after.
SNB and BoJ act to depress their currencies
Mark Deans, Moneycorp
Until recently, drivers in Nigeria who went the wrong way down a one-way street were hit with a £100 fine (or a £10 grease to the traffic cop). Now, according to this morning's Independent, they will be subject to a psychiatric examination.
Swiss National Bank & Japan intervene to cut demand for safe haven currencies
Mark Bolsom, Travelex
The Swiss franc has risen by almost 40% against the euro since Jan 2010 while the Japanese yen has surged by over 11% versus the US dollar over the past 4 months.
Japan on the attack
Michael Derks, FxPro
After the lowering of interest rates from the Swiss National Bank (SNB) on Wednesday, it was the turn of Japan to try and curb the strength of its currency. In the wake of today’s latest BOJ meeting, monetary policy was further expanded via an increase in existing asset purchase programs and lending facilities.
Ratings worries hinder dollar
Andrew Wilkinson, Interactive Brokers
The United States might have barely achieved a passing grade in end of semester exams, but remains a naughty schoolboy, disrupting the classroom and showing few if any signs of wanting to give up on a privileged lifestyle.
Safe havens continue to rally
Mark O'Sullivan, Currencies Direct
Global markets have been in turmoil for the last few weeks. We saw a rescue package in Europe and then a debt ceiling agreement in the US. In both cases any positive market reaction has proved to be limited. The European deal, while comprehensive, left quite a few questions in terms of execution, range and common agreements.
Spin it all you like, the US budget deal is a dud
Andrew Timothy Robinson, Saxo Bank
Looking through the new U.S. debt ceiling deal reached at last minute, it’s a blatant political deal that is yet another egregious example of the extend and pretend meme that has dominated every financial crisis stretching back to Greenspan’s 1987 response to the stock market crash.
Market wary attention turns to the Italian debt situation
Richard Driver, CaxtonFX
Aside from the Senate passing the Budget Control Act and President Obama signing it into US law, the major story from yesterday’s session was the posting of fresh record highs in Italian bond yields.
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