Archive for January, 2008
FOMC meeting outside the regular schedule
· The action taken by the FOMC is the more aggressive rate cut, in a single move, since October 1984 · Today’s rate cut is a response to the ongoing deterioration on financial market conditions and credit tightening for some businesses and households · Risks to the short-term economic outlook are clearly tilted towards the downside · The Fed’s action was approved with eight votes in favor and one against The Fed’s emergency interest-rate cut, one week before their scheduled meeting, was aimed
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FOMC: Aggressive cut by 75bp to 3.5%
Overview: Today at 14:20 CET the Federal Open Market Committee (FOMC), announced that it was lowering the Fed funds rate aggressively by 75bp to 3.50%. This happened on the back of market speculation of inter-meeting Fed action during the day. TodayÂ’s action is indeed a signal that the Fed is very concerned about the economic and financial situation. Further, the fact that the central bank has acted so decisively just a week ahead of the meeting, may indicate that it has concerns about, not
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Hungary: No surprise – rates unchanged
At its monetary council meeting today, the Hungarian central bank (MNB) decided to keep its leading interest rate unchanged at 7.50% – in line with the consensus expectation and our expectations. Hence, the market reaction to the rate decision should be very limited.
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Mexico: Banxico is still fairly balanced
The Mexican central bank has just announced that it has kept its leading interest rate at 7.50%. The decision was fully in line with ours and the market expectations. Following the announcement, Banco de Mexico said it remains vigilant in balancing the risks between inflation being above target and the US economy slowing down.
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Trading for Revenge: Control It or It Will Control You
This article is taken from the Forex Journal, a special edition by Trader’s Journal magazine in Nov 2007. The author is Dr. Doug Hirschhorn, a regular contributor on CNBC, is recognized internationally as one
of the most influential and sought after Peak Performance Coaches in
the market today. Dr. Doug Hirschhorn’s clients include Deutsche Bank,
BNP Paribas, DWS Scudder as well as several other major world banks and
hedge funds Dr. Doug Hirschhorn discusses the effects of trading for revenge
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Turkey: Cautious TCMB cuts
Last night the Turkish central bank (TCMB) cut its key policy rate by 25bp to 15.50%. This was less than our and consensus expectations of a cut of 50bp. After having cut interest rates quite aggressively in recent months and more than on one occasion having surprised by cutting more than expected, the smaller than expected cut yesterday clearly signals that the TCMB is becoming more cautious. This should be seen in the light of the continued worsening of global credit conditions and the risk
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Fed Open Market Committee, January 17
Ben S. Bernanke testimony before the committee on the Budget, U.S. House of Representatives · Bernanke indicated that the baseline scenario for economic activity has worsened and the downside risks to growth have increased · The speech is consistent with our current expectations of a 25-50 bp cut in the next FOMC meeting · The Fed supports the rapid implementation of temporary measures to stabilize economic activity, which includes a fiscal stimulus package Mr. Bernanke indicated that the Fed
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Emotion Management System
What is Emotion Management System? Emotion management system is the subsystem of the forex trading plan which controls how closely you follow your trading system and your money management system. The control is executed through the weakening of the destructive emotions (those that force you to deviate from your systems) and strengthening of the beneficial emotions (those that force you stick to your systems). That is, emotions which make you deviate from your trading system or your money
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