US ($) Currency Thread 2

inspector_monkfish

poggs wrote: »

IM,

any idea why the pound crashed again when Gross domestic product fell by only 0.6% compared with the previous quarter, better than the previous estimate of a 0.8% contraction?

lost me!

it hasn't crashed
figures were pretty much as expected
we are currently trading at 1.5860, not far away from where we were before the data

inspector_monkfish

after good CBI data at 11.00, cable has now rallied up to 1.5930

inspector_monkfish

1.5990 trading now

Cade_Foster

Starting to go northwoods again how long before the BOE release something to crash it again(on purpose).

thatsfabulous

Ohh no, whats it doing. Go the otherway... up up up!!

Can anyone explain in simple terms:rolleyes: why its going down this week? I hope its just for this week only.

Keith99

1.6050 now, on the rise. I have no idea y!

inspector_monkfish

Keith99 wrote: »

1.6050 now, on the rise. I have no idea y!

05:24 30Sep09 Gbp/Usd bounced above the 1.6000 lvl on strong consumer confidence

04:24 GMT - [GBP/USD] rose from an earlier intraday low around the 1.5954 level to an intraday high around the 1.6035 level filling sell orders at the 1.6030 lvl on buying from a UK Clearer and a major Japanese name. The biggest one-month rise in more than 14 years in the Sep GfK consumer confidence index to -16 from -25 in August indicating that the recession may be finally over gave a prop to the pair. Some buying of the Gbp/Jpy by Japanese retail investors which sent the cross to an intraday high around the 144.55 level also helped to prop the GBP/USD. However, with fresh offers at 1.6065 from model accts and 1.6090, the pair will face strong headwinds.

Keith99

inspector_monkfish wrote: »

05:24 30Sep09 Gbp/Usd bounced above the 1.6000 lvl on strong consumer confidence

04:24 GMT - [GBP/USD] rose from an earlier intraday low around the 1.5954 level to an intraday high around the 1.6035 level filling sell orders at the 1.6030 lvl on buying from a UK Clearer and a major Japanese name. The biggest one-month rise in more than 14 years in the Sep GfK consumer confidence index to -16 from -25 in August indicating that the recession may be finally over gave a prop to the pair. Some buying of the Gbp/Jpy by Japanese retail investors which sent the cross to an intraday high around the 144.55 level also helped to prop the GBP/USD. However, with fresh offers at 1.6065 from model accts and 1.6090, the pair will face strong headwinds.

Cheers, I now hope it will continue! Need to buy some Dollars and pay for a hotel in dollars! Should of done it @ 1.70

inspector_monkfish

1.6090 trading

inspector_monkfish

1.6105 trading