Thursday, April 8, 2010

JPY crosses (& Sterling)

From Forex Live, the best FX news source on the web:

Goldman Sachs is up to something. They either know something or are taking a big punt and they generally do not do this without some inside information. They have been heavy sellers of EUR/JPY, AUD/JPY and USD/JPY over the past 24 hours. I can only speculate that this has something to do with Greece or China (or a double-whammy of both!). Don’t be surprised to see them issue a sell recommendation in the next day or so!

In case there is something up in China I am going to leave a sell stop order in AUDJPY:

Also very nasty story just come out for tomorrow's Telegraph re the UK debt and sterling:


  1. Nic,

    What is the validity period for closing the crude contract every month?
    I know we cannot trade after 20th but are we allowed to close open contracts till the end of month or what date?

    btw, I know that's not you in the pic just some random trading addict, she looks fit though :-)


  2. Hi Ams
    Depends how you trade crude.
    The calendar for the Brent crude contracts is here:
    The WTI contract dates are here:

    If you trade CFD's then you get rolled automatically and usually (like ODL) a few days before expiry to avoid volatility. If you trade direct market futures you can pick which month you want to trade. The last few days of the front month can be quite a rollercoaster. The USO (ETF for US crude) is 30% of the contracts so when they switch it can make for quite a squeeze.

  3. thanks for the info Nic!