US ($) Currency Thread 2

Cade_Foster

taking a right hit at the moment into the 1.54s

MatJohnson

Yep, all because the fantastic government are borrowing their way out of debt

Best get me cash bought soon before i goes sub 1.5

inspector_monkfish

1.5390 trading now

inspector_monkfish

09:59 19Feb10 GBP/USD Bears Step Up Pace For 1.5000



LONDON--Sterling continues to be the pariah of foreign exchange markets, and the deeply entrenched bear trend against the U.S. dollar looks set to continue towards the psychological 1.5000 level.

This fresh wave of pessimism has been created by the downside break into
fresh 9-month lows below 1.5537, completing a 2-week bear flag in the process.

Since losing 1.5537, a bear channel support line has been broken just beneath the 1.5500 area, and the inability to close the 1.5507/1.5493 downside gap highlights the ferocity behind this latest bout of weakness.

Having sailed through the initial target at 1.5415, there is little in the
way of meaningful support until the 1.5000 area.

Projected support from the height of the bear flag range highlights 1.5325
and 1.5260. But with nothing else to combine these levels, they alone will not be strong enough to stem the downward tide.

A couple of minor downside projections lie at 1.5110 and 1.5131, but again
the consensus is that bear pressure will be too strong and will look to challenge
the psychological 1.5000 level.

This level in the past has been shown to be pivotal, and is expected to
create a recovery of sorts.

However, with the wider picture highlighting downside risk to the
1.4720/1.4770 area - levels last seen in April 2009, there are few reasons to
stand in the way of a bear trend that is clearly increasing in terms of momentum.

The weekly MACD and slow stochastic indicator back this bearish outlook,
which is showing no signs of abating.

There is risk of consolidation to try to close the downside gap at 1.5507,
but the odds are not favourable.

GBP/USD was at 1.5385 at 0946 GMT.

sabretoothtigger

STERLING
The British pound moved lower vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.5555 level and was capped around the $1.5685 level. Many data were released in the U.K. today. First, the February CBI industrial trends survey improved to -36 from -39 in January, evidencing a marginal improvement in manufacturing activity. Second, January mortgage approvals decreased to 49,000 from 60,000 and the January M4 money supply rose to 0.6% m/m and 5.1% y/y. Perhaps the biggest news today confirmed that U.K. public borrowing increased for the first time in the month of January since at least 1993, up ₤4.3 billion. Notably, public borrowing from April 2009 through January 2010 grew to ₤124.2 billion, an all-time record. These data are indicative of the significant amount of debt being issued in the U.K. to finance the Brown government’s expansionary fiscal spending initiatives. The U.K. media is reporting some economists are displeased with economic language Bank of England Governor King used in recent testimony as compared with the MPC’s meeting minutes. Cable bids are cited around the US$ 1.5340 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.8720 level and was supported around the ₤0.8660 level.

Sterling Index At 1200 GMT 
      (JAN 2005=100)     INDEX      GBP/USD     EUR/GBP 
     PREVIOUS CLOSE      79.8       1.5588      0.8788 
               OPEN      79.6       1.5607      0.8824 
              10 AM      79.5       1.5579      0.8826 
               NOON      79.8       1.5633      0.8790 
               2 PM 
               4 PM 
February 11, 2010 07:01 ET (12:01 GMT)

      (JAN 2005=100)     INDEX      GBP/USD     EUR/GBP 
     PREVIOUS CLOSE      80.2       1.5642      0.8712 
               OPEN      79.7       1.5408      0.8746 
              10 AM      79.4       1.5364      0.8783 
               NOON      79.5       1.5384      0.8774 
               2 PM 
               4 PM 
 

 


February 19, 2010 07:00 ET (12:00 GMT)

I agree it looks bad but..

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” - Warren Buffett

US Dollar index is very bullish, everyone loves america right now for whatever reason even if they do have 14 trillion of debt. Im still inclined to believe sterling could recover short term at least

http://img651.imageshack.us/img651/2025/usdollarindexdaily30760.gif

inspector_monkfish

1.55 trading

inspector_monkfish

1.5420 trading

inspector_monkfish

[10:18 GBP/USD: 1.5420 Bids Threatened After Sell Stops Tripped]

London, February23.

Tripped sell stops have helped depress cable to an intra-week low a couple of,pips shy of touted bids at 1.5420 in the wake of its break below 1.5450. Demand circa 1.5450 underpinned GBP/USD through the European session yesterday.

The drop to threaten 1.5420 has been fuelled by the risk of more UK QE
flagged up by BoE Governor King and fellow MPC member Miles, and disappointing UKBBA mortgage approvals data Sterling was trading circa 1.5525 whenKing began to address the UK TSC, at 09:14GMT. 1.5575 was the 5-day peak scaledin early European trade.

neilbond007

what's this doing nearly on the third page?

1.5221 and falling!

Mr_Lahey

neilbond007 wrote: »

what's this doing nearly on the third page?

1.5221 and falling!

Once upon a time this thread was a place full of jokes, fun and a place to shoot the sh*t.



What happened?