On the positive side..

[dwalker460]

The currency market is treating me well today, up a couple of grand. Thank God the account i trade is funded through China and based in Australia... Thanks to Bernake it costs too much to trade based in the US...

Every time Obaloney opens his mouth the markets go nuts, and volatility means $ if you know what to look for.

[dwalker460]

Also, just in case your wondering, I am long on GBP/USD and EUR/USD looking for a bounce after the drop from last night, will be adding to my positions throughout the day as I look for the dollar to weaken quite a bit as the rest of the world figures out what it means that Obama won.

[waxthis]

Damn if that diden't say it all..:(

[ChunkyMonkey]

Also, just in case your wondering, I am long on GBP/USD and EUR/USD looking for a bounce after the drop from last night, will be adding to my positions throughout the day as I look for the dollar to weaken quite a bit as the rest of the world figures out what it means that Obama won.

Yikes, playing margin in forex is playing w/ fire. I made tons of money a decade ago..then lost everything about a decade-1year ago. Good luck to you.

[dwalker460]

Its definitely not for everyone, but I do decently well with it.

[dwalker460]

Got the bounce, will wait for the retraction then start adding on additional longs as the Euro and GBP advance against the USD.

[MrPrena]

Fairly surprised you are long on eur/usd.
You think euro hit the rock bottom? Or usd going down near future?

I watch cnbc Europe everyday, and Europeans seem long on usd.

Maybe Mario brothers '( Monti and draggi) has some tricks left.

[Aloha_Shooter]

I can see why he is. Europe is freaking screwed but nowhere near as bad as we're going to be after another four years of Obamanomics. At least Europe has Germany and a few other responsible countries trying to rein in the irresponsible ones. Fiscal conservatives in the US just got marginalized.

[dwalker460]

My personal take is the retreat from the stock market into currency we saw today is only temporary, but it will push the Euro and cable up before correcting down, and it is likely to bounce around quite a while until the austerity measures in Greece sort out etc. I tend to trade on a daily basis and I am looking for 10 to 100 pip movements, so very short term rather than trying to predict longer term trends.

[Ridge]

Spending your money overseas, eh? What a great patriot you are.

[dwalker460]

Spending? Yes sometimes, but mostly I am making money overseas.

[DSB OUTDOORS]

Risky business?? Worth it?? Can be. I'm not that brave yet. I'll keep reloading. [Coffee]

[Byte Stryke]

well if you consider That another 4 years of Obama means the papermill is going to keep spinning, now is a good time to hedge against inflation.

[MrPrena]

For a currency traders.....


Just in on CNBC Worldwide.
ECB keeping rate at 0.75%

[Pancho Villa]

well if you consider That another 4 years of Obama means the papermill is going to keep spinning, now is a good time to hedge against inflation.

LOL. Do you think Romney was going to let the fed raise rates? Or appoint someone who would?

[roberth]

LOL. Do you think Romney was going to let the fed raise rates? Or appoint someone who would?

No, not for a while anyway, a good chance he wouldn't have for the first 4 years.

[Pancho Villa]

No, not for a while anyway, a good chance he wouldn't have for the first 4 years.

I don't mean to be cynical but raising the rates would cause a lot of short-term pain, and the way things are no politician that has ambitions for either a 2nd term or for his party to remain in power in his 2nd term and beyond is going to do anything that can be solidly linked to them like that.

Don't get me wrong, it needs to be done; I just don't think anyone is going to force the issue until someone at the fed eases it up for their own reasons.

[roberth]

I don't mean to be cynical but raising the rates would cause a lot of short-term pain, and the way things are no politician that has ambitions for either a 2nd term or for his party to remain in power in his 2nd term and beyond is going to do anything that can be solidly linked to them like that.

Don't get me wrong, it needs to be done; I just don't think anyone is going to force the issue until someone at the fed eases it up for their own reasons.

Wall Street, D.C. and Americans in general don't want any pain of any sort so they'll keep up the current charade. Adult Americans know we need the pain but our guys lose in the primaries.

Yes, it needs to be done. Bush the Younger could have sacked up and done it and we'd probably be through it now. The dumbass ran TARP instead and The Messiah just followed Bush policy and here we are today.

[dwalker460]

LOL. Do you think Romney was going to let the fed raise rates? Or appoint someone who would?


Actually, I think Romney would have fired Bernanke and Geithner and done away with BS programs like "Quantitative Easing" (link for you in case you arent following- http://en.wikipedia.org/wiki/Quantitative_easing ) and put someone who knew what they were doing and had some damned common sense in their place. Had Romney been elected, cut some of the socialist programs and put out a balanced budget, the rest of the world would have seen it as a sign of recovery and our currency and debt rating would have improved. Instead we have re-elected a person the entire financial world considers a socialist, who will continue to print money at will and borrow from China while giving away to others, and that will lower our debt rating and confidence in the dollar. The fact that Europe is having their own issues- Greece is a big deal but Spain and Portugal are not much better off- is a large part of what keeps our currency from being devalued further.

Euro and cable are ranging, solid drop to support at 1.59280 at the announcement then retrace back around 1.60 after the US market open. Expect to see resistance at 1.64 range if it continues to push up.