US ($) Currency Thread 2

M4RKM

interesting - http://www.no1currency.com/our-company/news/bulletin-detail.asp?ID=317

Technical

Cable recovered well from yesterday’s Asian/early European sell off and is once again pushing towards the upper end of recent ranges. With the dollar looking precarious across the board and even hitting new lows for the year this week against the New Zealand dollar and Brazilian real, we could be close to a breakout which could propel sterling towards 1.70. A strong weekly close above 1.6425 and 1.6515 would provide further evidence of this with 1.6660 and 1.6745 as initial upside targets. Support now at 1.6435, 1.6360, 1.6310 and 1.6265.

I like the line that I made bold....


M

inspector_monkfish

1.6515 trading, 1min before retail Sales figures.....

inspector_monkfish

09:34 23Jul09 Cable jumps on strong UK retail sales

08:33 GMT - [CABLE] has jumped to fresh session highs above the earlier 1.6525 peak on the back of much better than forecast UK retail sales, which rose 1.2% m/m vs the 0.5% rise expected. Initial offers at 1.6530 have been soaked up as a result, with more lined up towards 1.6550 proving more tough just now. Stops are expected above Mon's high of 1.6560, whilst Gbp/Yen is also moving towards the top end of the week's ranges (156.05 Tue high, 156.50 Mon high).

inspector_monkfish

trickled back down to 1.6515

inspector_monkfish

1.6475 trading

dmg24

Daddyto3 wrote: »

I am going to LA next week for 4 days, i was just going to get the USD to take with me, to save having to keep changing travellers cheques. I noted on another thread that the general advice was to not take the cash with you.
Am confused as to why?

(apologies if its been covered, i havent read all of the 44 pages on this thread)

So am I! I'll be the one sat by the pool trying my hardest to look like a non tourist!

inspector_monkfish

back up to 1.6530

sabretoothtigger

markymoo wrote: »

interesting - http://www.no1currency.com/our-company/news/bulletin-detail.asp?ID=317




I like the line that I made bold....


M

The euro will gain most from dollar weakness I think

inspector_monkfish

late spurt, up to 1.6570

inspector_monkfish

16:16 23Jul09 STERLING EXTENDS GAINS, HITS 3-WEEK HIGH VS DOLLAR OF $1.6580 <GBP=D4>
16:23 23Jul09 Sterling hits 3-week high vs dollar of $1.6580

LONDON, July 23 - Sterling hit a three-week high against the dollar on Thursday, benefitting from solid gains on equity markets and earlier stronger-than-expected UK retail sales data.

Sterling rose to a high of $1.6580 <GBP=D4>, its highest since the end of June as UK equities jumped 1.5 percent <.FTSE> in line with rises in equity markets globally which have pushed up currencies perceived to be higher-risk.

Sterling has gained broadly since data earlier in the day showed UK retail sales rose 1.2 percent in June, more than three times the rise analysts had expected, supporting the view that the British economy is over the worst of the recession.