• ForexLive US wrap:Dollar consolidates losses as waiting game extends
    Obama issues veto warning on Boehner debt plan ECB’s Bini-Smaghi:Not committed to any particular rate path Case-Shiller home price index falls 4.5% y/y,as expected US new home sales fall 1% to 312,000 annual rate Conference Board consumer confidence index rises to 59.5 from 57.6 ISDA says US would have three days or more […]
  • S&P:No comment on varying plans being debated in Washington
    US lawmakers need to agree on a plan to deal with federal deficit,develop credible solution for the debt […]
  • Late “risk-off” slide
    Share prices are slipping late in the session,as is oil. Crude spent a good deal of the day above $100 but the tug-of-war between a weakening dollar and the potential for financial Armageddon (as the President constantly warns us) is keeping the topside somewhat limited for consumable commodities. Gold is firm,as one would […]
  • Kiwi FinMin:NZ starting to be seen as safe-haven
    Kiwi strength sue to safe-haven perception Strong Kiwi makes rebalancing economy difficult A nation of 4 million sheep-shaggers a safe-haven? Man,the world is very hard up… […]
  • Ron Paul:Torch the Fed’s portfolio
    If the Fed set fire to its $1.6 trln in debt,we wouldn’t need to raise the debt limit,the wingnut in chief says. Why not have the Fed buy all the Treasury debt and set it alight? Problem solved! […]
  • US’s Reid,McConnell Trade Barbs,But Say They Want Debt Deal
    –Senate Majority Leader Reid:‘I’m Open To Compromise’ –Sen. Reid:Boehner Plan Is ‘Dead On Arrival In Senate’ If Passes House –Sen. Reid:Credit Rating Agencies ‘Very,Very Nervous’ Re US Gridlock –Senate Minority Leader McConnell:‘Need A Result’ On Debt Hike –Sen. McConnell:Senate GOP Against Reid Plan And For Boehner Plan –Sen. McConnell:[…]
  • Best line of the debt crisis
    KC Fed president Tom Hoenig:“Great nations don’t default.” […]
  • White House threathens veto of Republican debt plan
    Again. An advser did it on TV earlier today,but now the OMB (Office of Management and Budget) says that Obama would veto such a two-step plan.   […]
  • US Crisis Watch:Insurance Against US Default Near 18.5 Mo High
    WASHINGTON (MNI) – The following is a roundup of key developments and events Tuesday on the ongoing stand-off over the U.S. debt ceiling:* Insurance against a default on the U.S. continued to hover at a 18-1/2 month wide Tuesday as Congress remains divided on legislation that would raise the debt ceiling and address the […]
  • 1.4580 near-term topside target
    The high seen on July 4th before the slide to 1.3838 a week later. […]
  • Canada’s Flaherty:Concerned with US debt impasse
    Longer-term concerns with European sovereign debt CAD represents stability for investors CAD rate reflects strong fundamentals,strength of commodity prices Relatively confident US will reach debt ceiling agreement in next few days […]
  • SIFMA Conf Call Experts Disagree,Is Default Chance Zero?
    By Denny Gulino WASHINGTON (MNI) – For JPMorgan Chase,failure to make interest payments on Treasuries is too “catastrophic” to happen but for Bank of America Merrill Lynch the probability of default is not zero,they said on a SIFMA conference call with reporters Tuesday. If there is no default but there is a downgrade […]
  • EUR/USD rises through Fibo resistance again,reaches 1.4525
    If we don’t hold above here,stops below 1.4450 could become vulnerable tonight in Asia or tomorrow in Europe… USD/JPY fell to a fresh low at 77.82 while 80.06 was the USD/CHF low on this run. […]
  • 6.0 earthquake off Baja California in Sea of Cortez
    Off the Mexican coast… […]
  • USD losses accelerating across the board
    No headlines driving this as far as I can see but the dollar has taken a turn for the worst versus the majors. USD/JPY is back below the 78.00,as low as 77.95 so far. Overnight lows at 77.88 is next support. EUR/USD is testing the important area of resistance in the high 1.45-teens while […]

Speculators Increase US dollar Long Positions

Week (Data for Tuesdays)

13 Week Index (Current)

13 Week Index (Previous)

US Dollar






British Pound



Australian Dollar



NZ Dollar



Japanese Yen



Canadian Dollar



Swiss Franc



The COT Index is the . . . →Read More:Speculators Increase US dollar Long Positions

Europe’s Bust Debunks Citigroup Once Again:Brendan Moynihan

The late Walter Wriston,a former chief executive officer of what is now Citigroup Inc.,was noted for saying that countries don’t go bankrupt. Nations can default,of course,and many did so in the 1980s. Today’s European leaders and bankers could learn from those experiences.

While countries don’t liquidate assets to pay off creditors, . . . →Read More:Europe’s Bust Debunks Citigroup Once Again:Brendan Moynihan

European woes drag Wall Street lower,retailers dip

Dollar Steady in its Bullish Bearing Despite a notable Rally from the S&P 500

• Euro Selling Subsists through Correction in Risk Trends,Fundamental Gravity Increasing

• British Pound Steady in the Face of GDP Figures that Hint at Trouble Ahead

• Japanese Yen Pairs Nicely with Risk Trends as the Carry Influence Leverages Correlation

• Australian Dollar’s Risk-based Rally Unencumbered by Disappointing Growth Data

• Canadian Dollar:Is . . . →Read More:Dollar Steady in its Bullish Bearing Despite a notable Rally from the S&P 500

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