All Blog Posts (1,487)

ECB press statement.

ECB President Trichet continues to drive the market with his comments following a surprise rate cut that was smaller than expected. He noted that inflation is below target and expects it to remain there. He also said the upside and downside risks to growth are balanced. Yet, he went on to say that non-standard measures may be taken in May, but he will not discuss the details today. This likely refers to the quantitative easing the Fed and Bank of England have practiced, which is a little… Continue

Added by Adam Horak on April 2, 2009 at 9:28am — No Comments

ECB cuts by 25 BPS less then market expectations.

ECB Minimum Bid Rate Actual 1.25%, Expected 1.00%, Previous 1.50%

Release Explanation: This is the Interbank overnight lending rate. It sets the tone for mortgages, commercial loans, and all economic lending criteria. An increase in Interest Rate will have the effect of slowing economic growth. A decrease in Interest Rate is used by a Central Bank to stimulate economic.

Trade Desk Thoughts: The ECB reduced the Minimum Bid Rate to 1.25%, even though that market expected a… Continue

Added by Adam Horak on April 2, 2009 at 9:01am — No Comments

FOREX traders now looking to US ISM and Thurdsdays G20 meeting ahead of US non-farm number.

FX Focus Shifts to G20 Meeting; Sterling Outperforms

Price action in the majors has been relatively stable overnight with the markets seemingly content on some consolidation ahead of a G20 meeting on Thursday that is generating a lot of attention, in light of the global turmoil and need for a unified solution. Looking ahead, key event risk comes in the form of ISM manufacturing data due at 10:00 EDT. Initially, ADP came out at 8:15 EDT showing more negativity in the labor market down… Continue

Added by Adam Horak on April 1, 2009 at 9:52am — No Comments

thursday 3 26 2009 economic outlook

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 6.3 percent in the fourth quarter of 2008, (that is, from the third quarter to the fourth quarter),

In the week ending March 21, the advance figure for seasonally adjusted initial claims was 652,000, an increase of 8,000 from the previous… Continue

Added by Adam Horak on March 26, 2009 at 9:03am — No Comments

Dollar collapse continues today

Dollar collapsed yesterday following Fed's announcement to ramp up the money printing machine to purchase up to $300b of long term treasury securities and expand purchase of mortgage backed securities by $750b and agency debts by $100b. The selling in dollar subsided a bit in Asian session but after all, the greenback is still under tremendous pressure against major currencies. On the other hand, yen crosses are generally lower today on profit taking and repatriation flows as well as talk that… Continue

Added by Adam Horak on March 19, 2009 at 12:55pm — No Comments

Can't See the Forest for the Trees

We have all heard that old adage and this old saying fits just about every situation we experience in our lives but none more than right now. As our economy continues to suffer, so do all of us. Some of us are business owners and some of us serve. Some of us are employed but to the individuals who are currently unemployed the message is very simple - - you just have to keep moving the ball along. Every day is a new challenge and, if it’s done right, the ball moves forward inch by inch and… Continue

Added by James Dicks on March 18, 2009 at 2:42pm — No Comments

money management

MONEY MANAGEMENT

Most beginning traders believe that a good entry into the market is the key to success. Unfortunately most are very wrong. Money Management is by far the most important criteria of trading, whether it’s stocks, futures or FOREX. Every successful trader will agree that managing your trades correctly is the #1 key to consistent profits.

Loosing a trade or several trades in a row is just part of trading, period! Having a plan and trading your plan is key to… Continue

Added by Adam Horak on March 17, 2009 at 3:25pm — No Comments

monday and tuesday outlook

• USD starts firm in Asia, weakens into Europe

• G-20 seen as a disappointment

• Volumes light and technical trade continues

Today’s Economic Reports

All times EASTERN (-4 GMT)

• 8:30am USD Empire State Manufacturing Index

• 9:00am USD TIC Long-Term Purchases

• 9:15am USD Capacity Utilization Rate

• 9:15am USD Industrial Production m/m

• 1:00pm USD NAHB Housing Market Index

Looking Ahead to Tuesday

All times Eastern… Continue

Added by Adam Horak on March 16, 2009 at 12:56pm — No Comments

walking through a trade.

trade set up. entry point, stops, adjustments and profit target.

Added by Adam Horak on March 4, 2009 at 11:04am — No Comments

Know Your Credit

I was sitting around this weekend, and as I often do, I check my credit reports. I try to examine my credit reports at least once a month; that seems like a lot and probably is for the average consumer. But for me my credit standing is vital for my business and its success.

I am probably not the best person to talk to about credit, or at least the credit bureaus; since I believe the credit bureaus are the biggest scam of all. I mean they give you one free credit report a year so you… Continue

Added by James Dicks on March 2, 2009 at 8:02am — No Comments

James Dicks Daily Digest - February 25, 2009

The Obama administration is getting ready to conduct "stress tests" on the nation's biggest banks to judge whether they can hold up if the recession were to worsen. Banking regulators plan to scrutinize the financial conditions of Citigroup, Bank of America and more than a dozen other financial institutions that have received billions from the Treasury Department's $700 billion bailout bill.

The National Association of Realtors said that existing home sales dropped 5.3%, to a… Continue

Added by Jack Lott on February 25, 2009 at 10:49am — No Comments

James Dicks Daily Digest - February 24, 2009

President Obama is ready to offer a detailed sketch of the first year of his presidency, casting the nation's bleeding economy as a tangle of tough, neglected problems. In a prime-time speech from the House of Representatives, Obama will make his case this evening that much more has to be done to turn around the economy — a message he knows he must explain. The speech comes two days before he delivers a budget blueprint to Congress.

Fed Chairman Bernanke said that restoring financial… Continue

Added by Jack Lott on February 24, 2009 at 10:52am — No Comments

James Dicks Daily Digest - February 23, 2009

President Obama is bringing together dozens of advisers and adversaries to discuss how to curb a burgeoning federal deficit laden with Social Security, Medicare and Medicaid obligations. Obama's summit at the White House is the first meeting toward a strategy to address the long-term fiscal health of the nation. The gathering also comes as Obama prepares ambitious plans to cut the federal deficit by half within four years.

Federal regulators are pledging to do all they can to support… Continue

Added by Jack Lott on February 23, 2009 at 10:47am — No Comments

James Dicks Daily Digest - February 20, 2009

The Labor Department reported that consumer prices rose by 0.3 percent last month, the biggest monthly increase since a 0.7 percent rise in July. Core inflation, which excludes energy and food, showed a modest increase of 0.2 percent, slightly higher than the 0.1 percent gain economists expected. Over the past 12 months, core inflation rose 1.7 percent, the lowest reading since a similar increase for the 12 months ending in August 2004.

Bank of America Corp. (BAC) Chief Executive Ken… Continue

Added by Jack Lott on February 20, 2009 at 11:45am — No Comments

James Dicks Daily Digest - February 19, 2009

The Labor Department reported that the number of people receiving regular unemployment benefits rose 170,000 to 4.99 million for the week ending Feb. 7th, marking the fourth straight week those receiving benefits have been at a record level on data going back to 1967.

The Labor Department reported that wholesale prices increased by 0.8 percent last month, the biggest gain since last July and well above the 0.2 percent increase that economists had expected. The increase was led by a… Continue

Added by Jack Lott on February 19, 2009 at 11:23am — No Comments

JPY may become under presure.

The pressures for a further Bank of Japan response to the severe downturn will tend to weaken the yen, although substantial selling pressure looks unlikely given risk aversion

The dollar found support below the 92 area against the yen on Tuesday despite general weakness in global equity markets. There will be a further suspicion of covert official intervention through Japanese funds to undermine the yen, especially as it failed to gain any significant support from the initial decline… Continue

Added by Adam Horak on February 18, 2009 at 11:54am — No Comments

James Dicks Daily Digest - February 18, 2009

The White House unveiled a plan to help 9 million "at risk" homeowners modify their mortgages, committing $75 billion of taxpayer money to back the initiative. The plan contains two separate programs. One program is aimed at 4 million to 5 million homeowners struggling with loans owned or guaranteed by Fannie Mae and Freddie Mac to help them refinance their mortgages through the two institutions.

A separate program would potentially help 3 million to 4 million additional homeowners… Continue

Added by Jack Lott on February 18, 2009 at 11:00am — No Comments

James Dicks Daily Digest - February 17, 2009

President Barack Obama signed a $787 billion stimulus bill into law, enacting a measure he says will create 3.5 million jobs and re-energizes the suffering U.S. economy. The stimulus will put the economy on a "firmer foundation," Obama said before signing the bill in Denver, Colorado. It passed both houses of Congress on Friday.

In its latest effort to stem the financial crisis, the Obama administration plans to announce details about a $50 billion program to modify mortgages for… Continue

Added by Jack Lott on February 17, 2009 at 10:30am — No Comments

James Dicks Daily Digest - February 16, 2009

The stock market is closed today in observance of President’s Day.

Finance chiefs from the Group of Seven nations joined the chorus of U.S. investors and lawmakers pushing Treasury Secretary Timothy Geithner to move faster to fix the banking system. Stung by domestic criticism for failing to provide details last week on just how he plans to clean up banks’ toxic assets and revive lending; Geithner was told by foreign policy makers at weekend talks in Rome that speed was of the… Continue

Added by Jack Lott on February 16, 2009 at 10:00am — No Comments

James Dicks Daily Digest - February 13, 2009

The stock market will be closed on Monday, February 16, 2009, in observance of President’s Day.

The House of Representatives approved a sprawling, $787 billion stimulus package backed by President Obama, handing the new president a key victory on his top economic priority that he says will create 3.5 million jobs and help lift the economy from recession. The huge package contains billions of dollars in infrastructure spending and assistance to states and the unemployed, and a $400… Continue

Added by Jack Lott on February 13, 2009 at 11:00am — No Comments