Thursday, March 3, 2011

Market Brief: March 3rd 2010

- 7:11 GMT
  • Choppy day post ECB decision. EUR/USD was sent flying through the rough and helped float the dollar index today. 
  • Most of the major pairs went straight to dollar strength. 
  • Oil saw geo/political risk relief as Brent fell from its three day high (117 to 113). 
  • Gold Currently down about 1.7% from yesterdays high. 
  • SPX in consolidation right above support levels 
  • NZD continuing to fall from and right above my first target for support levels. My long term view as stated beore is bullish... does this mean to buy in on this dip? I will wait into next week to make a better call. However, the past 6 months + I've found the 0.73 to 0.74 range attractive buys. 
  • CHF unwinding a lot with people covering short USD/CHF or buying EUR/CHF. EUR/CHF price spikes such as today are quite common for that pair.

Kinda exciting earlier in the day with FX but on the whole not much action from what I'm seeing. IMHO - US CPI/PPI plays are going to get a lot more interesting. I would also warn on ECB reheotric ... ECB more likely to raise rates before the BOE? I wouldn't necessarily jump the gun on that one. Either way inflation plays for the UK and Euro economy seem to be good ideas.

Huge admin tasks ahead: Revising legal documents for investor subscriptions the next few days. Polishing infrastructural well under way now. Being under staffed really is not easy, but got to keep going!


Alexander Lê
Managing Partner
Analyze Capital LLC

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