- Stop Being Reflexively Contrarian
In trading, not just currency trading but any market activity, the iconoclast gets few rewards. Markets are not mechanism for arriving at economic truths. There is no correct level for the euro or the yen only a price related to information and market positioning. Although there are instances where markets have been predictably obtuse and vast profits were made on the opposite tack, the sub-prime market in 2007 and 2008 is the best recent example of that. Most of those earnings were made in synthetic positions that became impossible to recreate once the market started to move. In currency trading, where any participant may join any move at any time, the most profitable tactic, though not perhaps the most emotionally rewarding, is allied to the general view. Look to the arts for emotional rewards, in trading only profits count.
- Remember that in Writing the Hardest Part is Starting
- Give More of Myself
Joseph Trevisani began his twenty-four year career in the financial markets at Credit Suisse in New York and Singapore where he worked for 12 years as an interbank currency trader and trading desk manager. Returning from Asia he moved to Bermuda and managed the Asian Trading desk and was a proprietary currency trader for The Bank of Bermuda in Hamilton. Mr. Trevisani joined the on-line financial industry in 2001 as one of the founding partners of FX Solutions. Over ten years he served as in turn as Chief Dealer, Head of Institutional Sales and Chief Market Analyst. He joined Worldwide Markets in 2012 as Chief Market Strategist. [More about Joseph Trevisani]
Editors’ Picks
EUR/USD clings to daily gains, still below 1.1900
EUR/USD manages to reverse two daily pullbacks in a row and advances modestly on Thursday, hovering around the 1.1880 zone amid the inconclusive price action around the US Dollar. Meanwhile, weekly Initial Claims rose more than expected last week, while attention is expected to shift to the upcoming US CPI data on Friday.
GBP/USD picks up pace, hits 1.3640
GBP/USD trades with modest gains around 1.3640 so far on Thursday. Indeed, Cable looks to leave behind the weakness seen in the first half of the week in a context of an equally erratic performance in the Greenback and disappoting UK data releases.
USD/JPY consolidates around 153.00 favoured by lower Fed easing bets
USD/JPY steadies around 153.00 after hitting two-week lows at 152.25. A strong US Nonfarm Payrolls report provided some support for the US Dollar on Wednesday. The Yen remains on track for a 2.6% weekly rally, boosted by Takaichi's victory at Sunday's elections.
Editors’ Picks
EUR/USD clings to daily gains, still below 1.1900
EUR/USD manages to reverse two daily pullbacks in a row and advances modestly on Thursday, hovering around the 1.1880 zone amid the inconclusive price action around the US Dollar. Meanwhile, weekly Initial Claims rose more than expected last week, while attention is expected to shift to the upcoming US CPI data on Friday.
GBP/USD picks up pace, hits 1.3640
GBP/USD trades with modest gains around 1.3640 so far on Thursday. Indeed, Cable looks to leave behind the weakness seen in the first half of the week in a context of an equally erratic performance in the Greenback and disappoting UK data releases.
Gold stays offered below $5,100
Gold keeps the choppy trade well in place on Thursday, navigating the area below the $5,100 mark per troy ounce amid the lack of clear direction in the Greenback, declining US Treasury yields across the curve and caution ahead of Friday’s publication of US CPI.
LayerZero Price Forecast: ZRO steadies as markets digest Zero blockchain announcement
LayerZero (ZRO) trades above $2.00 at press time on Thursday, holding steady after a 17% rebound the previous day, which aligned with the public announcement of the Zero blockchain and Cathie Wood joining the advisory board.
A tale of two labour markets: Headline strength masks underlying weakness
Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.
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