Big Update

I had a very successful trip to Boston. In short, SummerstreetFX wants to partner with The Titan Group. They do not have a presence in Chicago and would like to start one. We will begin working out the details on Monday. There will be more info coming next week.

As far as the market is concerned, the last couple days have been very active. On Thursday, the quarterly GDP announcement came out that was very positive. This had a negative effect on the US dollar for these reasons: the market interpreted this as the economy is recovering, businesses would start spending more money oversees, and resume taking more risks. The dollar lost considerable ground to the other currencies except the yen.

On Friday, the markets all reversed themselves from the previous day's movement. Reflections revised the viewpoints of the GDP numbers, that they are being propped up by the government's stimulus program and not likely to have staying power. The US dollar gained back the ground it lost the day before.

Since I was in Boston meeting with SummerstreetFX, I did not trade either day.

Here are the daily stats for Thursday, October 29, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6370	1.6602	1.6336	1.6545	266
EUR/USD	1.4707	1.4857	1.4682	1.4821	175
USD/CHF	1.0269	1.0285	1.0167	1.0189	118
USD/JPY	90.74	91.60	90.23	91.39	137
GBP/JPY	148.53	151.58	147.63	151.22	395

Here are the daily stats for Friday, October 30, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6544	1.6576	1.6407	1.6429	169
EUR/USD	1.4821	1.4856	1.4702	1.4707	154
USD/CHF	1.0191	1.0274	1.0156	1.0261	118
USD/JPY	91.40	91.56	89.91	90.07	165
GBP/JPY	151.21	151.70	147.62	147.96	408

Have a great weekend!

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com