 | Tomorrow on Money In Motion
Euro's Next Stop
Another week, another low. That more or less sums up the price action in the euro. The most crowded and successful trade this quarter has been to sell the euro against the dollar. That pair briefly broke through 1.22 this week, and hit a twenty-six month low of 1.2161. So is there more pain to come? Shorting anything at a 52-week low is never easy, but it might just be the best way to play the euro now. We'll tell you what key technical levels our traders are looking at and how you can profit from the euro's next move.
Oil Back to $100?
A month ago, crude broke through $80 as investors were calling for the end of the world. However, a funny thing happened on the way to financial Armageddon: we never got there. Expectations for some type of stimulative action by central banks have sent risk assets rallying, and oil has surged some 16% in just a month. So is the rally in crude more than just a bet on more QE? Could the price jump in crude signal a stronger global recovery, and if that's the case, is triple-digit crude just around the corner? Commodities King Dennis Gartman will make his crude call and reveal what currency pairs he's playing to take advantage of a potential move higher.
Is Chinese GDP the New Libor?
We saw how easy it was for just a handful of bankers to rig Libor rates - a hugely important benchmark that determines the cost of everything from mortgages to credit card loans. If something as important as Libor can elude the reach of regulators and policy makers, just imagine how easy it is for the Chinese government to massage its economic data, says Larry McDonald, author of New York Times Best Seller A Colossal Failure of Common Sense and senior trader at Newedge. He believes the Chinese GDP figures are bogus, and he points to three pieces of data to explain why. He'll explain what they are when he joins us on Money in Motion Currency Trading.
That's all coming up tomorrow in Money in Motion Currency Trading.
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