FRB: Speech, Bernanke--Monetary Aggregates and Monetary Policy at the Federal Reserve: A Historical Perspective--November 10, 2006

FRB: Speech, Bernanke--Monetary Aggregates and Monetary Policy at the Federal Reserve: A Historical Perspective--November 10, 2006

Ideas & Screening | Reuters.com

Ideas & Screening | Reuters.com

FRB: Monetary Policy Report to the Congress - February 15, 2006

FRB: Monetary Policy Report to the Congress - February 15, 2006

Follow the link to see the text of the new Fed Chairman's first report to the Congress. I can tell you that the currency markets are very interested.

U.S. Treasury - Treasury International Capital System - Home Page

U.S. Treasury - Treasury International Capital System - Home Page

The current account deficit is still being comfortably funded despite news media hysteria. US securities of $185 billion were bought with international capital inflows last year above and beyond the current account deficit. --tb

FRB: Speech, Greenspan--Acceptance of honorary degree from New York University--December 14, 2005

FRB: Speech, Greenspan--Acceptance of honorary degree from New York University--December 14, 2005

"Open and free markets are the antithesis of violence." I like that quote.

Tai Chi Currency Trading

Stay out of the market and don't get hit. Stick and follow the charging elephant.

FRB:Speech, Bies--Productivity and economic outlook--January 18, 2006

FRB:Speech, Bies--Productivity and economic outlook--January 18, 2006

New Zealand Banker Predicts Euro's fall to $1.19 in a week

Bloomberg.com: Currencies: "The euro will probably decline because it has been unable to extend its 2 percent advance this year through a key level on charts traders watch to predict price movements, said Sue Trinh, a currency strategist at Bank of New Zealand Ltd.

``The continued failure to breach topside resistance at $1.22 will see some investors turn bearish on the single currency,'' said Trinh, who is based in Wellington. A resistance level is a price where sell orders may be clustered.

The euro may fall to $1.19 within a week, she said"

Currencies: Dollar lifted late in day after Guynn speech - Financial - Financial Services - Currencies

Currencies: Dollar lifted late in day after Guynn speech - Financial - Financial Services - Currencies: "'Any time you have credible evidence of terrorism in the U.S. or abroad, it works against the dollar,' said Michael Woolfolk, senior currency analyst at Bank of New York."

Bloomberg.com: Market Insight

Bloomberg.com: Market Insight

Click on the red text to go to the link. It's kind of a report of who won the superbowl of currency forecasting. Merrill Lynch, which won in 2004, fell to 38th this year. Merrill Lynch is the sixth-biggest currency trader on the planet.

Buffett and major traders still see a dip in dollar - Marketplace by Bloomberg - International Herald Tribune

Buffett and major traders still see a dip in dollar - Marketplace by Bloomberg - International Herald Tribune

Buffett reduced his bets on the dollar's decline to $16.5 billion from $21.5 billion in June, according to a statement from Berkshire Hathaway on Nov. 4. The company, which had $926 million of pretax currency losses in the first half, used forward contracts, or agreements to purchase or sell a currency in the future at a preset price.

. . . "The story of the current account deficit allowed traders and analysts to justify any currency prices," said Steve Pearson, chief currency strategist in London at HBOS, a large lender. "Sentiment got overly bearish on the dollar."

Pearson was the most accurate forecaster of exchange rates in the year that ended on Sept. 30.

For 2006, he expects the euro to fall to $1.08.

Candlesticks, Bamboo Sticks

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Originally uploaded by iiiink.

Currency trading using candlestick charts is similar to observing a bamboo thicket.
But without the serenity. A 30-minute candlestick chart sometimes gives a pattern like the picture. When it does, the market is consolidating quietly. But when the momentum shifts, one must act accordingly. King Kong may have entered your quiet grove.

Fine Line

Icy Bridge
Originally uploaded by WisDoc.

Sometimes trading currency reminds me of this icy bridge. You can see your way ahead for a few feet and it is treacherous, but beyond that it gets mysterious. As Paul McCartney says in his recent song, Fine Line: There is a fine line/ Between recklessness and courage/ It's about time/ You understood which road to take/ It's a fine line/ And your decision makes a difference/ Get it wrong and you'll be making a big mistake//

Meat Slicer

Meat Slicer
Originally uploaded by enuwy.

My year in England spanned fall 1975 to fall 1976. I enjoyed the local traditions, and one especially was the costume of the butcher. I'm glad to see that some things never change. This photo was uploaded to the web today. Trading currency markets is a lot like being a butcher. You take the raw meat and put it in little packages for your customers. It is a traditional occupation with no end in sight. Some people find it exciting?

PIMCO Manages over $463 billion in Assets

Bill Gross, managing director of PIMCO, widely regarded as the country's leading fixed income authority, may be worth a listen when he publishes his outlook.

FRB: Speech, Greenspan--Budget policy--December 2, 2005

Well worth reading and studying. Alan Greenspan is having a farewell party in London this weekend at the G-7 meeting. The text is at www.federalreserve.gov

Economy growing but at uneven pace: Beige Book - Banks - Financial - Industrial, Diversified - Retail - Financial Services - Industrial Products & Ser

Just in case you thought the Beige Book was something to ignore. Perhaps beige is not your favorite color? The Fed does not wave red flags. That would alarm the high-strung financial community too much. Most of what they say is very neutral. The beige flag is about all you will get--thank goodness.

PIMCO Bonds - IO December 2005

I learned today that William H. Gross, Managing Director of PIMCO (Pacific Investment Management Company) is known as a Bond Guru.

He has just published at www.picmo.com his investment outlook for the next year. One could do worse as far as prophesies go. It is only 4 pages. Well worth a look.

Raghee Horner's Book, ForeX Trading for Maximum Profit

EC_ProductDetail

Bush Names Bernanke to Replace Greenspan

U.S. stocks logged their biggest one-day gain in six months as Bernanke's nomination laid to rest market uncertainty over who would by Greenspan's replacement. Bond prices ended lower on worries a Bernanke Fed could take an easier line on inflation, despite his assurances on Monday that he would steer the central bank along Greenspan's course.

As if these yahoos know why the market went up or down today. So much pretended knowingness.