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Six FX Drivers

November 05, 2012
This is a momentous week.  The two largest economies have political transitions, three central banks meet, and Greece's parliament votes on key reforms, which if approved, will avert an immediate crisis. as the beleaguered country is now projected to run out of funds within the fortnight.  
At the same time, nothing changes.  The fiscal cliff…
Six FX Drivers Six FX Drivers Reviewed by Marc Chandler on November 05, 2012 Rating: 5
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Great Graphic: QE3+ Yet to Impact Balance Sheet

November 04, 2012
This Great Graphic comes from Also Spracht Analyst.  It shows the composition of the Federal Reserve's balance sheet as of November 1.  There has been some fluctuation since QE3+ was announced, but the Fed's balance sheet is essentially flat.  
The reason appears to be due to technical factors having to due with idiosyncrasies of the mort…
Great Graphic: QE3+ Yet to Impact Balance Sheet Great Graphic: QE3+ Yet to Impact Balance Sheet Reviewed by Marc Chandler on November 04, 2012 Rating: 5
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Currency Positioning and Technical Outlook: Trending Market or Not?

November 03, 2012
The key issue facing market participants is whether the dollar is trending or moving in a range.  We retain a favorable outlook for the dollar on a medium term basis, we had expected the range trading environment to persist primarily because we do not anticipate a resolution of what we see as the key issues facing investors--the US fiscal cliff an…
Currency Positioning and Technical Outlook: Trending Market or Not? Currency Positioning and Technical Outlook: Trending Market or Not? Reviewed by Marc Chandler on November 03, 2012 Rating: 5
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Still Skeptical of Breakouts

November 02, 2012
We have argued against expecting a near-term breakout of the dollar on the grounds that key issues that have made for broad trading ranges are not going to be resolved yet.  
The dollar is well bid in Europe.  We have done well this week fading the European moves.  Today may prove no exception, even though the US reports the October jobs figures.…
Still Skeptical of Breakouts Still Skeptical of Breakouts Reviewed by Marc Chandler on November 02, 2012 Rating: 5
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Bossa Nova, It Ain't

November 01, 2012
A new month has begun but the sounds are the same.  Ahead of tomorrow's US jobs report, we should anticipate generally consolidative activity.  The dollar is a bit bid in Europe, moving above JPY80 and seeing follow through buying against the euro after staging a recovering in NY.  Yesterday we noted here that the dollar selling in Europe was…
Bossa Nova, It Ain't Bossa Nova, It Ain't Reviewed by Marc Chandler on November 01, 2012 Rating: 5
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