Archive for February 2022
The Old Man’s Views Perhaps It’s Time to Delve Deeper into How These Markets Move
The Whales have grown big, because they feast on the tiniest Algae This week, I was going to talk about something else. However, after monitoring a few chat rooms, I thought I’d address why many newbies, who bought crypto at the higher levels, are now selling their positions to save 50% of their invested capital. …
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Cromwell FX Market View Ukraine / Russia Continues to Dominate
The ongoing military build-up in eastern Europe continued to dominate the market headlines. In the early stages of the week there was general optimism about the situation, with risk rallying on hopes of the situation getting diffused. However, in the latter part of the week the fear of escalation returned, and risk assets got sold.…
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The Old Man’s Views The Story of Fernando, The Romantic Bull.
The week of Valentine’s Day is always a good time to tell the story of Fernando the Bull. I’ve read lots of reports and recommendations, many of which involve various types of technical analysis. Since the early days, I have been a big fan of using Elliot’s wave theory, especially on financial products. Elliot wave…
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The Old Man’s Views The Winter Games and Games People Play
China has done exceptionally well hosting the Winter Olympics after Covid. Considering China’s record of human rights abuse, the communists must be extremely happy that so many countries showed up to take part, that includes the Jamaican Bobsleigh team, which we should all be cheering! For the billions of you not following these…
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Cromwell FX Market View Surprise Hawkish ECB
Another volatile week as Central Bank hawkishness came to the fore. Traders had seen the Fed being Hawkish for sometime but last week was the turn of the BoE and ECB. The ECB acknowledged inflation is not transitory and their comments moved in a far more hawkish direction. President Christine Lagarde declined to repeat…
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The Old Man’s Views Reasons to be Cheerful
There are lots of reasons to be cheerful: cheaper currencies, low interest rates, … AND you are not a central banker! Firstly, as you are not running a Central Bank, be very happy because those guys are between a rock and a hard place right now. They have been playing with interest rates for…
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Cromwell FX Market View Hawkish Fed Turbocharges USD
The greenback continued its rise against all other majors after the Fed left the markets in no doubt that it was going ahead with its tightening plans. Asset purchases will be taken down to zero by next month, and a 25bp hike is fully priced into the March meeting. Furthermore, the market is now pricing…
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