wow, so we hit 500$/3000CHY this morn!
got me thinking about the Monday 18th meetings-in the forex trading world i dabble in, this kind of huge steady increase in the days before large announcements/discussions that have a large impact on the affected currencies' value is due to a leak on the info to be announced...
maybe were seeing buy ups because the US is about to give it a thumbs up. because its the chinese buying doesnt necessarily indicate much. OR maybe because a lot of the buying is outside of US it indicates the US investors know its going to be bad news and are waiting for the crash...
not much help am i
got me thinking about the Monday 18th meetings-in the forex trading world i dabble in, this kind of huge steady increase in the days before large announcements/discussions that have a large impact on the affected currencies' value is due to a leak on the info to be announced...
maybe were seeing buy ups because the US is about to give it a thumbs up. because its the chinese buying doesnt necessarily indicate much. OR maybe because a lot of the buying is outside of US it indicates the US investors know its going to be bad news and are waiting for the crash...
not much help am i
As much as I want to believe this and hope this is the case, if you look at the behaviour of other markets prior to big announcements, what you usually see is a pre-emptive swing in one direction, then as the announcement gets made a huge swing in the opposite direction, its basically traders exploiting the opportunity for some quick fast gains in the market.
Granted there aren't any actual decisions being made at these hearings, but it'll definitely have a big impact.
