Video

#SaxoStrats
The big news seen overnight was the energy sector creeping higher as shares broke through January highs on the rally in crude oil prices.
Article / 17 December 2013 at 15:22 GMT

T'was the week before Christmas

FX Trade Strategist / www.Loonieviews.net
Canada

T'was the week before Christmas and in TradingFloor land,

Few traders were stirring and their trades were unplanned.

The rest of the players studied charts with great care

In hope that Bernanke would answer their prayer.


Pic: Johann Helgason

Photo: Johann Helgason / Shutterstock.com


The economists and strategists were scratching their heads,

Attempting to predict the words from the Feds.

With visions of tapers enhanced by nightcaps,

They reread old speeches and then needed long naps.


Pic: StockLite
Photo: StockLite / Shutterstock.com 


When out in Washington there arose such a clatter,

Traders sprang to their desks to see what was the matter.

They scrolled through the chat lines, news feeds and Squawks

To see what had happened, what was the talk?



Pic: ollyy
Photo: ollyy / Shutterstock.com 


The noon-hour beers had been downed rather quick,

Which made focusing, to many, a difficult trick.

On Saxo TV, what to my wondering eyes did appear?

The FOMC chairman, who was full of good cheer.


Bernanke
Photo: Albert H. Teich / Shutterstock.com


His eyes how they twinkled, his dimples like fruit

Masked his true feelings about being given the boot.

His droll little mouth was drawn up like a bow

And the beard of his chin was as grey as the snow.

"Labour markets improved," he said with a grin.

"To keep QE going would be considered a sin.

It's time to start tapering, the Fed knows for a fact."

And US dollar bears were about to get whacked.


 usd

Pic: Creative Illus / Shutterstock.com


Short Aussie, short kiwi, short yen and the loon,

The big dollar was soaring straight for the moon.

Black turned to red in a sea of red ink,

The move was so quick it was done in a blink.


shock
Pic: Twin Design / Shutterstock.com 


And then Benny said, "But the timing's not right,

For long term rates are still as high as a kite."

The dollar gains were erased in the blink of an eye

As the FOMC keeps augmenting the money supply.


dollar printing

 Photo: Shutterstock.com


Bernanke walked from the podium, to his team gave a whistle.

They went off to dine, he was all out of missiles.

But I heard him exclaim 'ere he walked out of sight,

"Merry Christmas to all and to all a good night."

(with apologies to Clement C. Moore)



reindeer, skyline

Pic: Kasza / Shutterstock.com

 

(xcma)

5y
Johann Mare Johann Mare
Hi Michael, Excellent piece. There is nothing much that I enjoy more than somebody skillful with words - you're one of a couple on this site.

This piece has become my favourite Xmas pantomine, and more importantly the favourite Xmas poem that I will read to my 4 year old each night.

Keep up the sharp wit! I think I will be following the Loonie next year.
5y
Clare MacCarthy Clare MacCarthy
Couldn't agree more, Johann. The TradingFloor news desk was rocked by laughter at Mike's wit. I reckon his Christmassy thoughts were inspired by Canada's recent claim on North Pole sovereignty!! The Economist: Is Santa Canadian?
http://www.economist.com/blogs/americasview/2013/12/canadas-arctic-claim
5y
Michael O'Neill Michael O'Neill
Thanks Johann, but I think your 4 year old would be a lot happier with the Clement C Moore version of The Night before Christmas.

And to Clare-Beware the imperialistic leanings of Canada. Leave it to a Canuck to want to invade an ice-cube. We may be friendly, but obviously not too smart,

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Tradingfloor.com permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Tradingfloor.com and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Tradingfloor.com is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Tradingfloor.com or as a result of the use of the Tradingfloor.com. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through Tradingfloor.com your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail