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DOW set for big rise today
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inspector_monkfish
Posts: 9,276 Forumite
08:36 30Apr09 GBP/USD: 1.4900 Offers Tested, Triple-Digit Dow Futures Rise
[07:36 GBP/USD: 1.4900 Offers Tested, Triple-Digit Dow Futures Rise] London,
April 30.
Cable has tested 1.4900 offers as the pound continues to benefit from
increased risk appetite. Dow futures are currently up 115 points, having been up by a much modest 39 points less than an hour ago. The Dow closed up 2.1% yesterday. The Nikkei closed up nearly 4% today. Anthony Bolton, president of investments at fund manager Fidelity International, says "all the things are in place for the bear market (in equities) to have ended" (Bloomberg website).
The pound is also benefitting from chatter of good size month-end 15:00GMT London fix-related demand for GBP re: a global stock market index reweighting.
Above-figure GBP/USD sell interest is touted at 1.4940 (1.4944 was the April 17 high). Further supply is flagged ahead of 1.5000. Sterling scaled a three-month peak of 1.5069 a fortnight ago (Apr 16, pre-Chinese Q1 GDP data). 1.4855 (today"s Asian session top) is now a support point. 1.4815 was yesterday"s high(pre-FOMC statement).
[07:36 GBP/USD: 1.4900 Offers Tested, Triple-Digit Dow Futures Rise] London,
April 30.
Cable has tested 1.4900 offers as the pound continues to benefit from
increased risk appetite. Dow futures are currently up 115 points, having been up by a much modest 39 points less than an hour ago. The Dow closed up 2.1% yesterday. The Nikkei closed up nearly 4% today. Anthony Bolton, president of investments at fund manager Fidelity International, says "all the things are in place for the bear market (in equities) to have ended" (Bloomberg website).
The pound is also benefitting from chatter of good size month-end 15:00GMT London fix-related demand for GBP re: a global stock market index reweighting.
Above-figure GBP/USD sell interest is touted at 1.4940 (1.4944 was the April 17 high). Further supply is flagged ahead of 1.5000. Sterling scaled a three-month peak of 1.5069 a fortnight ago (Apr 16, pre-Chinese Q1 GDP data). 1.4855 (today"s Asian session top) is now a support point. 1.4815 was yesterday"s high(pre-FOMC statement).
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(MSE Andrea says ok!)
(MSE Andrea says ok!)
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