US ($) Currency Thread 2

neilbond007

Spurted back up to over 1.65 on that news Ratkarth!

Ouchtheygotme

Dollar in banks now not covered by FDIC latest sovereign society thread.

Buy euros £ will dive in October crash 2009

Cade_Foster

Any chance of what thet means in english.

Cade_Foster

Looks like it has just gone back to bouncing backwards and forwards but not really doing anything like it was doing a bit ago.

sabretoothtigger

Just noticed at the top of the page, this guys spelt Gilt as guilt in his picture. Quite correct :laugh:

Intraday Market Thought

from Ashraf Laidi

2009.08.20 09:21: US equity futures in the red as US jobless claims rise to a 4-week high of 576K, dragging down an already fragile GBP, CAD and AUD against USD and JPY. USDJPY falls back below 93.90. A break below 93.80 will likely re-emerge in the event of disappointing USD data such as an August Philly Fed survey (14:00 GMT) of no more than zero 9from previous -2.2 in July. Also watch the employment component of the Philly Fed survey whether it improves from -25.3. July leading indicators index exp +0.7% from Junes. Any protracted declines in oil below 72.00 will likely prope USDCAD towards 1.1030s and drag CADJPY towards 85.00. Sterling vulnerable to more losses in event of break below $1.6440.

neilbond007

This is from TorFX yesterday -

Market Update - GBP USD
We adopted a cautious tone last week after sterling started to look shaky following the Bank of England decision to extend quantitative easing ("QE") measures. We were concerned that a break of trend support could lead to further technical selling of the pound, and that has proven to be the case with a further 3 cent slide since last week's report. Things seemed to be picking up yesterday after a stronger than expected inflation figure. Here's what TorFX head of trading Adam Solomon had to say about that in this morning's daily insight.
"The UK inflation rate unexpectedly held steady at 1.8% in July, as consumer prices rose and provided some initial optimism that the economy is staving off the threat of deflation. The annual gain in consumer prices was the same in June, the lowest level since September 2007. On the month, prices stayed unchanged, compared with initial estimates of 0.3% drop"

The bounce was shattered this morning by the release of the minutes from the recent BoE meeting. Only six of the nine member committee voted for a £50bn increase in QE, with the other three (including influential BoE governor Mervyn King) voting for a larger £75bn increase. That puts the markets on notice that further easing may be in the pipeline, casting an ominous cloud over sterling. In extending help to the economy, the BoE are inevitably and perhaps deliberately denting the pound. A weaker pound helps narrow the gap between imports and exports as UK goods become cheaper to foreign buyers.
The technical outlook has deteriorated since the break of trend support last week, but so far the support around 1.63 has held. Our current view is that dollar buyers should reduce risk by covering at least half of any requirement now.

whatusername

Aint been on lately due to pressures of work, home and generally low morale as i aint going back to that states for a while :mad:

I see cable aint doing anything much and hovering in the 1.60 somethings as it has for yonks now. The QE announcements seem to have an eefect then it rallies again. Nothing surprises me on Forex trading now.

neilbond007

whatusername wrote: »

Aint been on lately due to pressures of work, home and generally low morale as i aint going back to that states for a while :mad:

I see cable aint doing anything much and hovering in the 1.60 somethings as it has for yonks now. The QE announcements seem to have an eefect then it rallies again. Nothing surprises me on Forex trading now.

I'd like to say you've been missed... but my mother told me never to tell lies

You not been watching the rate over the last 10 days? Manic. Up and down like the proverbial !!!!!s undercrackers!
And gas went up 25c a gallon yesterday. Now that's what you call a jump. There again going from $2.30 to $2.55 aint going to bankrupt me

neilbond007

A collapse of Australian proportions has sent the rate from touching 1.66 to below 1.65.

Cade_Foster

Finishes in the 1.65s

Unfortutnately after this trip in September I will be looking at the Aussie dollar which aint doing to well.