EURUSD Daily Wave Chart: This chart is bit convoluted, but let us try to explain the key points from an Elliott perspective suggesting that “this corrective move in EURUSD” may be done (we never ever know without hindsight, but technically there is lots of evidence here to make the case). 1) Cle

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If you can believe it, the US dollar has gotten hammered in the last 12 hours — the euro and pound up over a percent at their day’s highs; the Australian dollar coming very close to US dollar parity. The day’s early moves have hints of capitulation as QE2 and currency war speculation satur

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Last week we noticed some spreads blew out even further, particularly thanks to the concern of Ireland and its banks. Spread: Irish 10-year bond vs. German 10-year bund You might also remember the Wall Street Journal article that rehashed the entire region’s banking problems and the rather large

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The pound yesterday was hit by a couple news items – credit to businesses shrank, money supply declined and growth in mortgage applications slowed. And despite some mostly reassuring news from Moody’s that the UK is not in jeopardy of losing its AAA credit rating, the pound was hit pretty hard.

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In our webinar yesterday, we showed a chart comparing gold and the US dollar index, as you can see below: We said what is interesting about this chart is the fact gold and the US dollar have moved in a positive correlation lately. We’ve highlighted the area on the chart roughly where you can see

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“President Barack Obama, under pressure to bolster the U.S. economy, said on Monday he and his economic advisers are discussing additional steps to generate job growth such as more tax cuts for businesses.” (Reuters) Officially, Paul Krugman is not one of Obama’s aforementioned economic advise

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Currencies have experienced a massive wave of volatility in the past three years. Driving some of that volatility are the early stages of a sovereign debt and currency crisis. As I laid out in my June 26 Money and Markets column, history suggests many of the sovereign debt problems in the world will

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There has been a lot of double-dip talk in the market, and a lot of it from us. But, we remain open to being very wrong. Quite possibly, if the recovery is back on track, the US dollar will get smoked on yield and growth differentials; a couple of key factors that not too long ago appeared to favor

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I was reading George Soros’ criticisms of Germany this morning. If the euro experiment fails, it will be all Germany’s fault, according to Mr. Soros (yeah, okay, sure). It seems Mr. Soros wants Germany to start raising wages and do all it can to boost domestic spending. The old ideas of thrift a

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We could refer to our once-upon-a-time Currency Currents that criticized the stress tests administered to US banks, but really we wouldn’t be saying much more than: ‘they were a phony, propaganda-laden strategy that aimed to deceive investors of the obvious risks that remained with US banks.’

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