US ($) Currency Thread 2

sabretoothtigger

[URL="http://stocktwits.com/u/esecfutures"]esecfutures[/URL] August 10, 4:03 pm[URL="http://stocktwits.com/u/esecfutures/3226208452"]#[/URL]
[URL="http://stocktwits.com/t/GBPUSD"]$GBPUSD[/URL], pound continues to get pounded, down 500 pips in 2 days $$

neilbond007

roots_controller wrote: »

All together now -
'Come on pound, turn it round'

It aint working!

Down to 1.6464

neilbond007

Latest from TorFX

Things were looking rosy for sterling at the start of last week as sterling surged higher on Monday against a broadly weaker US dollar. The greenback has been under pressure as rising stock markets and subsiding investors risk aversion has resulted in a flow of funds out of the dollar and into riskier, higher yielding assets. On Thursday though, the Bank of England derailed sterling's rally as it announced an increase in quantitative easing from £125bn already spent, up to £175bn, and extra £50bn of spending. Most economists are welcoming the move, but that doesn't help the pound, which fell as soon as the announcement hit the news wires. The shadow monetary policy committee had previously recommended extending the programme by "between £75bn - £300bn", but most market watchers expected the BoE to simply release the £25bn balance that they still had in the pot.
This leaves the rally in tatters for the time being, and bigger questions will be raised if sterling falls below key trend support at 1.6550. The next major support below there is 1.5984 (July low) and 1.5802 (June low), so this week will be a crucial test from a technical perspective. We advise clients with USD requirements to cover half now and then take a "wait and see" approach over the next few days.

Cade_Foster

Seems to be hanging around the 1.646 mark now which whilst not good is better than the drops we have experienced in the past few days.

sabretoothtigger

Ashraf_Laidi wrote:

2009.08.11 05:46: It may be a quiet Tuesday session but USD is gradually gaining more ground, dragging GBPUSD back down near the key 55-day MA at $1.64, which is also the 5 month trend line support on the weekly chart. CAD is the worst performing currency among the majors since the NY, with USDCAD probing the 21-day MA at 1.0925, The pair has posted its 4 straight daily increases since January. USDJPY remains vulnerable to further pullbacks towards 96.40 and 95.80. Watch Ashraf on Bloomberg TV discussing FX and the FOMC this morning at 10:35 GMT, 11:35 BST.

http://listmanager.appliedi.net/lt/t_go.php?i=9705&e=OTc1MjI2OQ==&l=-http--www.ashraflaidi.com/search/--Q-q--E-GBPUSD--A-t--E-TAG

alaidi
Sterling traders make sure u're around for the BoE inflation report tomrow @ 5: 30 am EST, 9:30 am GMT.

whatusername

neilbond007 wrote: »

Morning all
How is everyone? Had a great weekend. Went to see the Killers. Awesome! Temperature was in the low 90's...

Pity the rate is going in the wrong direction... 1.6590

Hi Neil,

Saw the Killers in March in Glasgow and they were magic, a real show.

No great movement again in cable and i hope anyone buing took advantage of high 1.60's last week

neilbond007

Morning all!
Quiet on here.

We've just had a little spurt up to 1.6559

Cade_Foster

Yeah bizarrely on the back of Bad Unempoyment data and forcasts

Wirral_Girl

Thank goodness it's looking a little better as going to States in 4 weeks and need every cent I can get my hands on for shopping, food and alcohol! :rotfl:

ageandjo

I have 3 weeks left to exchange my dollars hmmmmmm when when when???