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Daily OANDA Forex Blog (Nov 19, 2008 at 06:40:35am) — by Alfonso Esparza

While the majority of investors think it’s a bad idea to bail out the Auto sector, they are afraid that not bailing it out could be a costly mistake for the economy. To make matters worse both political parties have dug in their heels on the issue eliminating the possibility of a swift agreement on either direction. There is nothing worse for the market than uncertainty.

Henry Paulson is too busy rewriting his memoirs and past statements but he has indicated that the Auto Industry should not have any of the $700B bailout. Car manufacturer CEOs have pleaded one after the other and it seems BofA chief Ken Lewis sees fewer than three as a magic number. Who shall be eliminated from tonight’s Economic Crisis special?

The US$ is stronger in the O/N trading session. Currently it is higher against 10 of the most actively traded currencies, in a ‘whippy’ trading range.

The US$ currently is higher against the EUR -0.10%, CHF -0.32%, and lower against JPY +0.27%. The commodity currencies are...


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Who is Dean?

"The best traders have a unique ability to decipher new information a fraction quicker than the average person, but information overflow can confuse their clear line of thinking. When I was trading, I always wanted a general overview—relevant information in snippets, with not too much detail—as a way to get up to speed each day. My goal with this blog is to provide this type of overview. I want it to be informative for the average trader, so I encourage suggestions and active discussions." (Dean Popplewell)

Dean Popplewell has a wealth of forex experience: professional currency trader for 10 years, fixed income trader for four years, and head of the global trading desks at various financial institutions in Canada. Dean is now OANDA's resident currency analyst, and has been writing OANDA's daily forex blog since January, 2007 as a way to share some of his forex experience with the OANDA community.

 

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