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Ashraf Laidi

Ashraf Laidi

CMC Markets

Contributor since: 26 Feb 2010


Ashraf Laidi is Chief FX Strategist at CMC Markets and author of "Currency Trading and Intermarket Analysis: How to Profit from the Shifting Currents in Global Markets" Wiley Trading.

  • Prolonged Risk Aversion Until Obamas Inauguration

    Published 15 January 2009 | viewed 3,782 times

    Prolonged risk aversion is expected to ensue until Tuesdays presidential inauguration brings in a temporary feel good rally. Having made their third failed attempt to…

  • Zero-Bound Fed Breaks Dollar

    Published 16 December 2008 | viewed 3,782 times

    The Fed's shift towards a range of 0-0.25% in its fed funds target zero intensifies the yield assault to the dollar, leaving little chance for…

  • Detroit Spoils Dollar Party

    Published 11 December 2008 | viewed 5,073 times

    It may be premature to call the recent currency developments a paradigm shift, but it is worth shedding light on these changes as the news…

  • Fed's Quantitative Easing Extends Seasonal Reversals

    Published 25 November 2008 | viewed 4,948 times

    Today's latest liquidity drive from the Federal Reserve gives a fresh jolt to risk-seeking trades, extending my scenario of seasonal reversals in currency and commodity…

  • Beware of Seasonal Forex Reversals

    Published 20 November 2008 | viewed 4,191 times

    Although currencies ended up adopting their usual path of following the swings in risk appetite, it's worth explaining Wednesday's earlier spikes in EURUSD and GBPUSD.…

  • Consumers Further Erode Retail Payrolls

    Published 14 November 2008 | viewed 3,204 times

    The attached chart shows the deepening implications of falling retail sales on retail sector payrolls, highlighting the deteriorating role of the US consumer, especially as…

  • Risk Aversion Fills Data Vacuum

    Published 11 November 2008 | viewed 4,216 times

    Although signs of easing credit strains are manifested in multi-year lows in interbank rates, the market turmoil has exasperated the already shaky cash situation of…

  • Bank of England Plays Catch-up at Expense of Sterling

    Published 06 November 2008 | viewed 2,584 times

    The Bank of England's shocker 150-bp cut to 3.00% (lowest level since 1955) against expectations of 50-bp cut is the biggest rate cut since the…

  • Elections, the Dollar, Stocks and the Economy

    Published 03 November 2008 | viewed 3,783 times

    Much has been written about the relationship between the partisan power in the White House and the performance of the stock market. Considerable amount of…

  • Reflationary Trade Here to Stay

    Published 30 October 2008 | viewed 4,976 times

    The Fed's 50 bp-cut to 1.00%, adds to the 50-bps made less than a month ago, making the central bank in full pursuit of its…

  • Pre-FOMC FX Strategy

    Published 29 October 2008 | viewed 3,518 times

    Fed to Remain More Creative Than Surprising The main question is whether today's anticipated Fed rate cut will succeed in maintaining the current boost to…

  • Yen-Bound Flight of Least Resistance

    Published 24 October 2008 | viewed 3,925 times

    Sterling collapses by over 800 points (8 cents) to $1.5260, posting its biggest intraday decline since exchange rates became freely floated in 1971, reinforced by…

  • USDJPY and Yield Curve Analysis

    Published 16 October 2008 | viewed 3,750 times

    Violent volatility maintains its daily routine of aggressive swings, as US equities close 5% higher after more than a 9% decline yesterday, dragging risk appetite…

  • What Retail Layoffs are Telling Us

    Published 03 October 2008 | viewed 4,450 times

    September payrolls fell by 159K, worst decline since May 2007, while the unemployment rate held at 6.1%. Although unchanged, the unemployment rate is widely expected…

  • ISM Won't Prevent More EUR, GBP Losses

    Published 01 October 2008 | viewed 3,854 times

    An important component in today's terrible August ISM report (plunging to a 6-year low of 43.5) is the tumbling prices paid component to 53.5 from…

  • Implications of Gold's Rise Relative to Oil

    Published 18 September 2008 | viewed 4,738 times

    Over the past 8 weeks, we alerted clients that the gold/oil ratio would continue to recover from its July record lows as oil begins to…

  • Risk Aversion Drives JPY and GBP in Opposite Ways

    Published 10 September 2008 | viewed 4,764 times

    Now that US equity indices have erased all of Monday's gains less than 24-hours after the US Treasury's takeover of Fannie Mae and Freddie, we…

  • US Jobs Report and Relative FX Strengths

    Published 05 September 2008 | viewed 3,639 times

    The jump in the August unemployment rate to a new 5-year high of 6.1% from 5.7% leaves little doubt to currency traders that the USD…

  • Secular Currency Performances

    Published 28 August 2008 | viewed 2,713 times

    The events of the past three weeks in foreign exchange markets continue to be dominated by prolonged dollar strength and a fierce bout of selling…

  • GSEs' Impact on Foreign Inflows and Risk Appetite

    Published 14 July 2008 | viewed 2,873 times

    Almost 4 months to the day after the Fed backed the JP Morgan rescue of Bear Stearns, the Fed and the US Treasury intervene to…