US ($) Currency Thread 2

whatusername

neilbond007 wrote: »

just dipped to 1.61 and then in the space of a few minutes jumped up to 1.62!! There is hope out there.
I'm feeling particularly lazy this afternoon. Stuffed myself with sushi at the Japanese buffet at lunch.
Just managed to get 2 tickets to see the Killers. A long weekend in Louisville's finest hotel* awaits the misses... when she eventually gets here....

*actually it's a "Homewood Suites" that is free with Hilton points!

Enjoy them mate, saw them in Glasgow back in March and they were superb.

inspector_monkfish

1.6035 trading

a truck load of important US figures out today
1.30pm - Average Earnings
- Non-Farm Payrolls
- Manufacturing Payrolls
- Unemployment
2.40pm - ECRI inflation index

whistler-alison

Can someone tell me what cable means please?

inspector_monkfish

whistler-alison wrote: »

Can someone tell me what cable means please?

its the nickname given to GBP/USD foreign exchange rates

dates back to the old transatlantic cable that ran under the Atlantic Ocean from US to UK
its still used as a nickname to this day on City Trading Floors

see these wikipedia aricles:
http://en.wikipedia.org/wiki/Cable_(foreign_exchange)

http://en.wikipedia.org/wiki/Transatlantic_telegraph_cable#St._John.27s_to_Nova_Scotia

Wirral_Girl

Thanks IM, I didn't know that either

Kim

inspector_monkfish

rallied to 1.6145 from a morning low of 1.6020

inspector_monkfish

1.6195 trading
did hit 1.6240 after the US figures, but fallen back a bit now

inspector_monkfish

13:39 05Jun09 IFR-GBP/USD: Buoyed by Forecast-Busting NFP Number

[12:39 GBP/USD: Buoyed by Forecast-Busting NFP Number] London, June 5.

Cable leapt by three-quarters-of-a-cent to an intra-day high five pips shy of touted offers at 1.6250 on the back of May"s much better-than-expected US Non-Farm Payroll number. This came in at minus 345k, compared to the minus 520k consensus expectation. The forecast-busting number is positive for risk appetite--and positive for the pound. GBP/USD buy stops were tripped on the breaks through 1.6185 and 1.6200. The pre-data release high was 1.6175.

April"s NFP number was upwardly revised by 35k to minus 504k, with March"s NFP number upwardly revised by 47k to minus 652k. May"s US unemployment rate to
9.4%, from 8.9% in April. A more modest rise to 9.2% was forecast.

inspector_monkfish

collapsed to 1.6050 now

neilbond007

Morning all!
Looks like it's on the slide again... 1.6076.

But at least it's Friday and the sun is shining! (Well it is here.. 26C today... lovely!)