Featured \Nick Nasad \ 4:36 PM EST \ August 30th, 2010
The BOJ in its emergency meeting announced an expansion of its loan program – a bit of monetary easing. However, the moves were less than expected by the market and traders bought the Yen after having sold it off late last week and to start Sunday’s trading. Currencies sensitive to risk sentiment and global growth faltered, with the US Dollar and Swiss Franc gaining. US stocks slid increasing risk aversion in the NY session.
DRodriguezFX: I like the risk/reward on a short-term EURUSD position here. Stop below morning low of 1.3242, initial target of range high of 1.3285. 15 minutes ago from TweetDeck
DRodriguezFX: In short: COT data still shows an overhang in USD-long positions vs EUR, and options traders betting on/hedging against EURUSD strength. 45 minutes ago from TweetDeck
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Daily Video Recap: BOJ and Risk Aversion Send “Risk-On” Trades South
Featured \ Nick Nasad \ 4:36 PM EST \ August 30th, 2010The BOJ in its emergency meeting announced an expansion of its loan program – a bit of monetary easing. However, the moves were less than expected by the market and traders bought the Yen after having sold it off late last week and to start Sunday’s trading. Currencies sensitive to risk sentiment and global growth faltered, with the US Dollar and Swiss Franc gaining. US stocks slid increasing risk aversion in the NY session.
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