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Gustav lashes Jamaica with wind and rain |
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Friday, 29 August 2008 |
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Tropical storm Gustav passed over Jamaica on Friday, drenching the island with rain and ripping roofs off homes. It is expected to get back to hurricane strength when in returns to open water.
A bulletin issued by the MET Service of Jamaica at 8:00 a.m. this morning, stated that a hurricane warning remains in effect for Jamaica as Gustav approaches the western end of the island.
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Pattern, Price & Time Daily Analysis |
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Thursday, 28 August 2008 |
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FINANCIALS Treasuries are trading flat this week after Monday’s surge. Higher crude oil and better than expected economic reports are keeping a lid on any rallies.
A better than expected Second Quarter GDP report today could put downside pressure on this market. Because of the upcoming three-day weekend, trading has been thin and narrow. This may lead to a volatile break today if the market gets hit with negative news.
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Hawkish Comments by ECB Member Firms Euro |
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Thursday, 28 August 2008 |
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The EUR USD rallied early Wednesday as traders reduced speculation that the ECB would cut its interest rate before the end of the year. Comments from ECB Executive Board Member Axel Weber put an end to the talk that the ECB was considering a rate reduction. In keeping with the ECB mandate to get inflation down to an acceptable 2.5% level, Weber told Bloomberg News that any talk of an interest rate cut was premature. Axel also hinted that the ECB would be watching data until the end of the year before reaching a conclusion. He did not rule out another round of tightening.
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Symmetrical Triangle in USDJPY |
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Thursday, 28 August 2008 |
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We have a symmetrical triangle forming on the Daily USDJPY, which can be seen clearly now on the 240 minute chart I've posted below.
The trend on the daily chart is higher, as is the primary trend on the 240 min chart, and given a symmetrical triangle is a continuation pattern, my thinking is you may not want to get caught short this pair heading into the weekend.
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Usain vs Asafa…Dance Contest? |
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Thursday, 28 August 2008 |
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Following the success of Usain Bolt and the Jamaican team at the Olympics, Puma, the official sponsors of the team, hosted a party for the athletes at a nightclub in Beijing the night after the athletics competition ended.
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