I have added to my EURCHF and USDJPY long positions. I am looking for a reversal or pullback and also have one eye on possible intervention by the central banks.
Monday, 30 January 2012
Sunday, 29 January 2012
The COFER Database
The COFER database
COFER (Currency Composition of Official Foreign Exchange Reserves) is an IMF database that keeps end-of-period quarterly data on the currency composition of official foreign exchange reserves. The currencies identified in COFER are:
U.S. dollar,
Euro,
Pound sterling,
Japanese yen,
Swiss francs, and
Other currencies.
Before the euro was introduced in 1999, the European currencies identified separately were:
COFER (Currency Composition of Official Foreign Exchange Reserves) is an IMF database that keeps end-of-period quarterly data on the currency composition of official foreign exchange reserves. The currencies identified in COFER are:
U.S. dollar,
Euro,
Pound sterling,
Japanese yen,
Swiss francs, and
Other currencies.
Before the euro was introduced in 1999, the European currencies identified separately were:
European Currency Unit (ECU),
Deutsche mark,
French franc, and
Netherlands guilder.
Foreign exchange reserves in COFER consist of the monetary authorities’ claims on nonresidents in the form of:
Deutsche mark,
French franc, and
Netherlands guilder.
Foreign exchange reserves in COFER consist of the monetary authorities’ claims on nonresidents in the form of:
foreign banknotes,
bank deposits,
treasury bills,
short- and long-term government securities, and
other claims usable in the event of balance of payments needs.
Foreign exchange reserves in COFER do not include holdings of a currency by the issuing country. For instance, the U.S. dollar assets of the Federal Reserve and the euro assets of the European Central Bank and member countries of the European Economic and Monetary Union are not foreign exchange reserves. The definition of foreign exchange reserves in COFER is the same as that in the IMF’s International Financial Statistics (IFS).
bank deposits,
treasury bills,
short- and long-term government securities, and
other claims usable in the event of balance of payments needs.
Foreign exchange reserves in COFER do not include holdings of a currency by the issuing country. For instance, the U.S. dollar assets of the Federal Reserve and the euro assets of the European Central Bank and member countries of the European Economic and Monetary Union are not foreign exchange reserves. The definition of foreign exchange reserves in COFER is the same as that in the IMF’s International Financial Statistics (IFS).
Source: IMF
Thursday, 26 January 2012
Quick AUDUSD short trade
I placed a quick AUDUSD short trade today where I was purely looking for a pull back after the long upward thrust in the pair. I got the move I was looking for in a matter of hours and closed out with 50 pips.
I only traded small size at 5000, but this was more to get back to winning ways after my lengthy drawdown than a serious trade.
I only traded small size at 5000, but this was more to get back to winning ways after my lengthy drawdown than a serious trade.
Wednesday, 25 January 2012
EURJPY and EURUSD positions closed
I have closed out my euro positions. I wanted to take advantage of the euro strength while it is there even though it seems there could be a lot further to run. The drawdown has taken away any neutral perspective I may have so I felt it better to get out, even if it means missing the move.
I have also reduced my USDJPY position, in part to cover the losses from the euro trades.
I have left the EURCHF trade open, with an eye on possible intervention.
There is very interesting fundamentals coming out at the moment and it ties in well with the Currency Wars book I am reading at the moment. I might take the weekend to reconfigure before thinking about some new trades.
I have also reduced my USDJPY position, in part to cover the losses from the euro trades.
I have left the EURCHF trade open, with an eye on possible intervention.
There is very interesting fundamentals coming out at the moment and it ties in well with the Currency Wars book I am reading at the moment. I might take the weekend to reconfigure before thinking about some new trades.
Tuesday, 24 January 2012
The tide may be turning
As you can imagine, I have been sitting on my hands this last week watching the recovery in the euro closely. From the depths of my recent drawdown of about £800, I am now down only about £160, albeit I have reduced some of my EURUSD position for a small loss.
The EURUSD has recovered from 1.26 to 1.30 and EURJPY from 96 to 101 today. I am now conscious to hold on for as long as possible as the 'risk on' period continues, but also cautious not to ride both pairs back down. I will probably look to reduce positions further in the coming days.
I am happy to hold my EURCHF trade while above 1.20, with one eye on intervention again from the SNB. My USDJPY trade is also fairing better this week.
I have been extremely busy at work recently so not having much time for posts or reviewing conditions.
The EURUSD has recovered from 1.26 to 1.30 and EURJPY from 96 to 101 today. I am now conscious to hold on for as long as possible as the 'risk on' period continues, but also cautious not to ride both pairs back down. I will probably look to reduce positions further in the coming days.
I am happy to hold my EURCHF trade while above 1.20, with one eye on intervention again from the SNB. My USDJPY trade is also fairing better this week.
I have been extremely busy at work recently so not having much time for posts or reviewing conditions.
Saturday, 14 January 2012
Foreign Exchange Reserves held by Central Banks
Here is a list of the foreign exchange reserves held by Central Banks around the globe. This data is published by the CIA.
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