The Old Man’s Views More regulations could be the problem!

You cannot discuss this business with anyone working in it, without the discussion turning to rules and regulations. How, without introducing more rules and regulations, we could see the business destroyed.   I am sure more regulations will be brought in very soon but are they really that necessary. Moreover, are those people helping to draw…
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Cromwell FX Market View Dollar drifted as Fed taper all but confirmed

The US dollar drifted lower throughout the week continuing its negative correlation with risk assets. Optimism in risk assets meant the USD lost ground against commodity pairs such as NZD and AUD. Fed Chairman Powell spoke and he confirmed that the taper is coming with a base case start of November. We still see a…
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The Old Man’s Views Beijing Biden and the Coming Big Bang

I’m running my computer and router on a generator because the power is off. What the hell is going on? For 20-years, since Bill “blow-me” Clinton, campaigned to get China into the WTO, what have we seen; Our wealth and jobs sent to China, Commodity yielding land sold to China. Chinese companies awarded contracts to…
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Cromwell FX Market View Strong Energy and Commodities Dominate

The Yen selloff continued through the week as a broader risk on strategy was adopted which spilled over into USD pressure. With little economic announcements the market was left to it’s own devices and the continued strength in energy and commodity prices pushed the main commodity backed currencies higher.  The USD long term strength remains…
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The Old Man’s Views How to piss off your Peers? Here’s how.

For many years, since I moved to Portugal, I have learned to keep my work and my private relationships much more separate than I once did. For most of my life on the front line of the business, colleagues and customers were the people with whom I spent most of my downtime. After work drinks…
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The Old Man’s Views Oh, Joe! What did you do?

The great thing about internet searching is the algorithms that keep presenting you with the content it thinks you will like.   I was searching searching “major economic downturns” and “declines of empires”, and was presented with links to some new YouTube videos from sports events and rock concerts where people had filmed, not the…
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Cromwell FX Market View NFP disappoint but USD remains in control

Despite a disappointing NFP on Friday the Dollar remained generally in control during the week. Yen lost across the board as treasury yields continued to rally. New Zealand dollar lost ground despite the RBNZ delivering its anticipated rate hike. Euro lost ground again as inflation pushed up to 3.4% YoY. Eurozone had expected higher inflation…
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The Old Man’s Views Lords and Ladies of the Speculative World

Summer is over, it is time to look at the bright new future ahead. Having been wheeled out of my nursing home and placed back in front of a computer, I am feeling decidedly young and sprightly, and in this first ‘proper’ edition of my ramblings, I will throw off my mask, and try to…
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