We are traders and masters of risk. When you become pro you stop over analysing and all you do is sit there, and wait, and wait, and wait some more until you find the perfect trade. What I am saying is that the market makes all the decisions. Our only decision is to listen, feel, and respond to the market’s siren. Always and without exception. Remember, the market never lies. It is only we who lie to ourselves.
Sunday, May 19, 2013
Looking Ahead: May 20 through May 24, 2013
Economic data mostly disappointed last week — Europe remained in the grips of recession and in the U.S., data were weaker than expected. However, Japan grew more than expected in the first quarter after an upwardly revised fourth quarter. Inflation in Canada, the Eurozone and the U.S. was muted thanks in part to declining gasoline prices.
The Bank of Japan meets this week but no major policy moves are anticipated. Flash PMIs for May are on tap for the U.S., the Eurozone, Germany and France. On Wednesday, the Eurozone will hold a summit — no major initiatives are expected.
Sunday, May 12, 2013
Looking Ahead: May 13 through May 17, 2013
Equities continued to advance last week while central banks including the Reserve Bank of Australia and the Bank of Korea reduced interest rates to spur on their respective economies and at the same time lower their currencies to reduce the pain for their export industries. The U.S. dollar exhibited strength against all of its major counterparts. The Japanese yen crashed through the 100 yen to a dollar barrier and continued to slide.
First estimates of first quarter growth will be released for Japan, the Eurozone and many of its member states. Investors will continue to keep an eye on currency moves especially with the U.S. dollar.
Sunday, May 5, 2013
Looking Ahead: May 6 through May 10, 2013
Both the European Central Bank and the Reserve Bank of India cut their policy interest rates last week — and both disappointed investors because they did not do more. Most economic data disappointed globally with the exception of the U.S. employment situation report.
The Reserve Bank of Australia and the Bank of England meet. Economic data mainly consists of industrial production and merchandise trade data for March. Services PMIs in Europe will be watched to see if any part of the European economy is growing. Key labour force reports will be closely watched in Australia and Canada.
Sunday, April 21, 2013
Looking Ahead: April 22 through April 26, 2013
After an initial scare Monday afternoon and into Tuesday’s Asian trading session, the bombing at Boston’s marathon appeared to have little influence on the global financial markets. Investors sold because they were disappointed by a combination of economic and earnings data that did not meet expectations.
The calendar is heavy with market moving events next week including the all-important flash PMI indexes for China, Japan, Eurozone, Germany, France and the U.S. And the UK will release its first estimate of first quarter growth.
Sunday, April 14, 2013
Looking Ahead: April 15 through April 19, 2013
Most equities advanced last week mostly thanks to central bank largesse in Japan and the U.S. Economic data were mixed including those released in the U.S. including jobless claims and retail sales. The new week begins with China’s gross domestic product for the first quarter along with March industrial production and retail sales. Bank of England watchers will parse the minutes of its meeting held earlier this month. With a split vote in the Monetary Policy Committee, watchers will look to see if those who would like to see increased quantitative easing are winning any converts to their position.
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