Philip Chua Business Blog

Posts Tagged ‘position’

The dollar had an excellent week, its best since January. The US currency rose 2% or more against every major currency except the Canadian Dollar; against the loonie it gained only 1.8%. Several factors sent the dollar soaring: end of the year profit taking and position squaring; sovereign debt concerns…

The DXY does not mirror the United States trade position in the global economy. It is heavily weighted to Europe, undervalues the Canadian Dollar, ignores South Korea Taiwan and by necessity China. A firm cannot settle a trade flow in the DXY nor is it particularly useful as a hedge…

Sterling fell sharply on Friday following the much weaker than expected Q3 GDP data – GBP/USD and GBP/EUR closed the week at $1.6337 and €1.0887 respectively. Prior to the GDP release, sterling had been rallying all week as one of the top G-10 currencies. The large speculative short position (that…

Reuters – U.S. securities regulators are considering ways to shed light on anonymous trading venues known as dark pools, including treating so called “indications of interest” as regular quotes, a source familiar with the Securities and Exchange Commission’s position said on Tuesday.

The yen has seen renewed pressure – following generally better-than-expected US earning reports – increasing the risk of a position squeeze in the markets as speculative investors have been positioned for further USD/JPY downside. The week to 13 October saw some of these JPY longs being unwound and net long…

JPMorgan Chase named Jes Staley the head of its investment bank, a move that could put Staley in a position to step in as the new CEO should the bank’s current chief, Jamie Dimon, leave.

Reuters – Switzerland knocked the United States off the position as the world’s most competitive economy as the crash of the U.S. banking system left it more exposed to some long-standing weaknesses, a report said on Tuesday.

With a reversal of most of its losses off the 1.4444 level, its Aug 03′09 high seen the past week, risk for more upside gains targeting that level continues to be envisaged. Beyond that level will put the pair in position to head further higher towards the 1.4719 level, its…

Singapore is now in a stronger economic position after a turbulent start to the year, thanks to a united response from Singaporeans and a slew of government measures that cushioned the impact of the downturn.
Prime Minister Lee Hsien Loong presented this reading of Singapore’s situation in his National Day message televised last night.
These factors, along with a ’somewhat stabilised’ global situa… more

Reuters – Dynegy Inc said it was selling some of its power plants to LS Power for $1.0 billion in cash as the U.S. power producer seeks to pay back debt and improve its liquidity position.