Jack Crooks

Are They Seriously Delusional?

By Chuck Butler, Editor of Currency Capitalist

This is getting ridiculous.

Reuters reported last night that the U.S. is close to extending billions more aid to Bank of America. And as I said yesterday, Citigroup is selling off units to raise capital, after the government already handed the bank US$45 BILLION worth of TARP money.

This all makes me wonder: Do you think Big Ben Bernanke and Hank Paulson drink more than seven cups of coffee a day?

The Art of the Stop-Loss

By Sean Hyman, Currency Analyst

As we’ve discussed before, you ALWAYS should place a stop-loss on every single Forex trade. But that’s only the first step. You also need to think about where you’re placing your stop-loss.

Why Isn’t Gold Rallying Right Now?

By Jack Crooks, Editor of Exotic FX Alert

Gold bugs call your office!

As gold goes so goes the dollar in the opposite direction?  That is what we’ve been seeing lately. Today, gold is sharply lower at the moment and trading below its 200-day and 28-day moving averages. Notice the classic lower highs and lower lows on the chart…

Those Stock Jockeys Aren’t Quite So Cocky This Morning

By Chuck Butler, editor of Currency Capitalist

There’s something else I need to address this morning that deserves front page notice. It’s the ADP jobs report that printed yesterday.

Up until this report hit the news, the stock jockeys were feeling pretty cocky. The risk takers were back in the driver’s seat in the market. (You could tell risk takers were back because the Aussie dollar rose to .7270!)

Trade Forex on Your Terms – Even in Your Sleep

By Sean Hyman, Currency Analyst

One of the most commonly used orders in Forex trading is known as “limit order.”

 You can use limit orders in two different ways. You can use them to enter a position or add to your present order as the level to exit the trade at.

Comparing Rotten Apples to Rotten Apples:

Why the U.S. Could Be the Best of the Worst Economies Once Again

By Kat Von Rohr, Managing Editor
World Currency Watch

Bloomberg is already guessing that more Americans lost jobs in 2008 than any year since 1945. They’re estimating 2.4 million jobs lost for 2008.

Seriously – This Is NOTHING to Smile about Media

By Chuck Butler, Editor
Currency Capitalist


Normally, the first Friday of a month is Jobs Jamboree Friday, but most government workers are still on holiday today so the Jobs report won't print until next Friday.

One Country Managed to Default on $3.9 Billion in Bonds

By Sean Hyman, Currency Analyst

If you want to talk about cautionary tales, you have to start in Ecuador.

Currently Ecuador uses the U.S. dollar for their currency. But even with the dollar’s strength in the second half of 2008, Ecuador is still facing major economic problems (kind of like the U.S.).

From the U.S. to Australia – Where the Majors Stand

By Chris Gaffney, CFA

I’m assuming you’ll be away from the markets for a few days yourself as you spend time with your families this holiday week. So before we all take a nice break, let me give you a wrap-up of where currencies stand right now.

First of all, the mighty dollar settled in at the slightly higher levels that the greenback reached on Friday morning. Right now, the buck is trading in a narrow range heading into a holiday shortened week.

Up, Down, Up - Where’s the Buck Headed Now?

By Chris Gaffney, CFA,

After steadily rising for months, the buck started its freefall two weeks ago. This massive reversal left Forex traders asking if the buck has finally turned the corner.

But hold on. It now looks like the dollar rally isn’t quite done yet – at least in the short-term. In fact, the currencies took a breather overnight as the dollar bounced back up.