Thursday, March 29, 2007

Markets like the numbers....

We had GDP out this morning and the numbers (the final revision of the 4th quarter) resulted in the market's reacting well. Although the numbers came in basically as expected (2.5% vs 2.2%) dealers seem to be taking this report and running with it. Emerging Markets currencies are stronger and Fixed income has preformed well.

Iceland CB officials warned of possible interest rate hikes in the future if new smelter projects are announced. Aslo Poland's Foreign Currency rating was upgraded to A- on balanced growth prospects. This was unexpected in the markets.

In Asia I am hearing reports of CB intervention in Singapore and India. Both currencies weakened considerable on the reports.

I am staying the course, short dollars (against Euro,Mexico,Brazil,Argentina) and looking for lower rates in Argentina,Mexico, and Brazil.

I am long dollars against Singapore and China.

Good Luck and Good Forex Trading.



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