Great morning!
Review
The FED yesterday did not alter their rate as expected but even did not alter their tone much a bit. They gave a sign to the market that the rates will remain low for a longer period. The Dollar obtained sold instantly but has got back a earth over night. We'll see if that will be a sustainable item or it's just profit taking. The stock markets did not respond that far and it seems like they get a bit out of steam.
Analysis
Nothing new. Now the ECB must step in and might talk again about a solid Dollar. But without the FED at the background that there is not so much they could do any Euro strength. Since Germany really seems to come out of recession (I mean it really looks great here in Germany) they might begin a little more hawkish words. But of course they know that this will fire the Euro into the moon. So it's a bit difficult for them. I expect that the rate to be unchanged for some more time.
Another question again is when this trip into the security of US treasuries will have an end and we see a return to the fundamentals which would imply: great US news: Dollar stocks up up.
Strategy
Again nothing new. Dip buying if it goes.
Open transactions
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Prices
AUD/USD 0.9050
EUR/GBP 0.9000
EUR/USD 1.4820
GBP/USD 1.6480
USD/CAD 1.0660
USD/CHF 1.0250
USD/JPY 90.40
USD/NOK 5.7000
Gold 1086
Silver 17.30
Oil 78.00
Dax 5390
Dow Jones 9780
Account Summary
Beginning date: 03-Nov-09
Beginning Balance: $5,000
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