Items Tagged With November 2005

The dollar was higher again versus the yen and little changed versus the euro Wednesday, as the U.S. currency continued to find support after Tuesday's Federal Reserve interest rate increase.

Here is a link to the Weekly FX Strategy Briefing.  It includes analysis of the week for the major currency pairs.  It's always beneficial to hear another perspective. 

http://cmsfx.com/resources/commentaries/Weekly/Nilsson-2005-11-08-15-40-24-en.pdf 

FWIW, the trend is still in place on both the above pairs so I'm rather hoping that you changed your mind about the EUR/JPY and went with it.  I  know it can be difficult to comprehend that a trend will continue when it  is seen as already having gone quite far but such in the nature of trends  in general that selling Yen was the only trade to make.

The CFTC report was released on Monday instead of Friday because of the holiday.  I just got around today to updating.  There was a 16000+ increase in short positions in the EUR flipping from net long to net short.  If you remember, the previous week, there was a flip from net short to net long. 

Other points of interest may be that the Swissie increased open positions by 13222 from the previous week,  with 13084 being short positions.

From the last 2 weeks, forex futures volume may indicate the following:

CAD : positive; still strong favor for Canadian Dollar
CHF : negative; increased short positions
GBP : negative; no major movement in futures volume over last 2 weeks
JPY : negative; no major movement in futures volume over last 2 weeks
USD Index : positive; minor growth in long positions over last 2 weeks
EUR : negative; flip from net long to net short over last 2 weeks
AUD : negative; a slight increase in open positions 

I've been watching the charts today and from what I've seen and heard, range trading will rule.  With Thanksgiving in the USA approaching, volume should be light on Thursday and Friday. 

I'm working on Friday (I work for a major financial) so there will be a NY trading session but I'm sure I won't see a majority of traders going to work Friday morning.