Weekly Analysis

[Office rat]

Currency Market Review 2/06/10 - 2/12/10

EUR below 2008 closing
The first February week ended with considerable EUR lowering and USD growth. Banks' buying USD against EUR, AUD and NZD in the end of the week was spurred by 5% decline of indexes on Lisbon and Madrid exchanges. Continuing concerns over swelling budget deficits and sovereign debts of EU member countries bolsters banks' appetite for USD. Currency market participants don't take EUR for a serious alternative to USD. Markititraxx Europe Index climbing to the 9-week maximum has further propelled USD against EUR. Michal Gomez, a senior vice president at Pimco (Pacific Investment Management Co) one of the largest investment companies in the world, advices to keep away from EUR, Euro zone and some of the developing European countries’ currencies.
Results and Current Situation
During February 1- 5 trading week EUR has lost 1.44% against USD. EUR/USD slid two figures lower from 1.3850 level to 1.3650 by session closing Friday. Increased USD buying resulted in lowering of the currencies dependant on raw materials export, AUD and NZD. They have lost 100 points. At the same time CAD remained relatively strong against USD. USD/CAD growth for the week comprised 10 points. CAD received support form the oil market, which managed to stay above the $70 level.
GBP turned out to be the biggest looser last week. By trade closing on February 5th GBP has lost 2.15%, which was reflected in GBP/USD decline of 345 points, from 1.5975 to 1.5630.
The major factor of last week's trade was a tendency of decline not only against USD but also against JPY. Growing interest in buying USD against other currencies could not hinder JPY appreciation. By the end of the week JPY added 0.034% against USD. USD/JPY has gone from 0.9025 down to 0.8935. The general JPY growth against other currencies in the market surpassed USD growth. This factor is a strong signal of further weakening of EUR, GBP, AUD and NZD.

Expectations, Prognosis

In the February 8-12 period currency market will remain pressured by increased buying of Japanese and American currencies . Possible attempts of EUR, GBP and other currencies buying in the first half of the week will be countered with large JPY purchases by cross rates. JPY buying will intensify EUR decline and USD growth.
Major currency pairs range:
EUR/USD – 1,3350-1,3769, decline
GBP/USD – 1,3350-1,3769, decline
USD/CHF – 1,0669-1,0888, growth
USD/JPY – 0,8831-0,8969, declining consolidation
AUD/USD – 0,8331-0,8769, decline
USD/CAD – 1,0631-1,0869 growing consolidation
Brent – 68,88-71,50 consolidation, range
Broco Group chief analyst Vladislav Gurov

[brownsfan019]

The weekly analysis guy is back!

[Office rat]

Originally Posted by brownsfan019 The weekly analysis guy is back!

Does it make you frustrate?

[brownsfan019]

Originally Posted by Office rat Does it make you frustrate?

I'm just pointing out that your thread entitled 'weekly analysis' has been anything but weekly, even after you re-confirmed a 2nd time that it would be weekly.

So whatever your goal is here, it's really not providing much use to anyone as your updates are in fact completely random and if anyone was silly enough to rely on this, they would have to wait hoping to see you appear again at some random point in the future.

Maybe you should start a new thread entitled 'Completely Random Analysis'.

[Office rat]

Thank you, guy, for you care,

But I think we will manage.

[brownsfan019]

Originally Posted by Office rat Thank you, guy, for you care, But I think we will manage.

I'm sure you will.

But for anyone else following along here, it should be clear that you said this would be weekly, re-confirmed that it would be weekly and then it hasn't been weekly.

So if you are posting for random fun, have at it.

But if you are posting w/ the intent of shilling a service later, it's already clear what we are dealing with here.

[Office rat]

I wish you were as successful in your trading as in monitoring what other people say on forums.

[brownsfan019]

Originally Posted by Office rat I wish you were as successful in your trading as in monitoring what other people say on forums.

I am! Come join us in the p/l thread and you will see for your very eyes.

Like I said, your weekly posts are anything but weekly. Do you disagree?

[Office rat]

Yes, I disagree cause these weeks we resemled the work.
Sure, this interruption was and other traders are clever enough to note that.

[brownsfan019]

Originally Posted by Office rat Yes, I disagree cause these weeks we resemled the work. Sure, this interruption was and other traders are clever enough to note that.

Ok, well if in your book you have been posting weekly, then you have been posting weekly.

We may be using different calendars.

Back to your weekly posting then. See you next Monday or whatever date would be appropriate for a week for you. If you'd like to inform us dumb traders when your next weekly report will be, I will be on edge waiting for it. But apparently I am not clever enough to know when your weekly report will be. So help me out, when will the next weekly report appear?