The Traderszone Network

A lively time for the Loonie.
Softer oil prices have added to the upside pressure on USDCAD and we’ve now seen 1.4530 posted in a rush before dropping back to 1.4458 as I type.

EU vice-president doing the newspaper round and this time talking to Kathimerini
– EU ready to start Greek reforms as soon as possible, probably next week
– EU working on the assumption that the IMF continue being part of the programme
I’ve always been taught assumption is a dangerous game.

Greetings one and all
The week-end is close but still a long way to go and action to follow before we finally pause for breath.
15 Jan – First anniversary of the SNB CHF cap removal which I know still has many of you fuming, not to mention vastly out of pocket, and many brokers still facing serious questions of how they behaved that day. Jordan meanwhile is unrepentant but still trying to convince Swiss exporters.

EU vice-president talking to Les Echos.
Bloomberg reporting.
– even if France is reaching nominal deficit-reduction targets it is failing to deliver on structural reform
If France wants to get the deficit under 3% next year it will need structural reform. The target would be easier to reach if more was done in 2015 and 2016

It appears the world is ganging up on The Fed as following China’s recent clear and present threat should the USD strengthen, BoJ’s Kuroda warned that further QQE might threaten the bank’s finances – implicitly demanding moar from Yellen because he knows he’s out of bullets.

read more

A torrid day for the Nikkei but some improvement at the close
– -93.84
– open 17522.46
– high 17597.87
– low 17057.60
– USDJPY 117.86
Expect offers/res into 118.00 on any further rally

So says fin min Gordhan speaking on 702 Radio
– govt recognizes challenges facing SA
– sees tough decisions on managing SA finances
– agriculture and mining in difficulty
The rand has been another casualty of the commodity and Chinese fall out and unlikely to perk up any time soon.