US ($) Currency Thread 1 (closed - use thread 2)

neilbond007

inspector_monkfish wrote: »

Morning

Cable opened in London around 1.4130, after reaching an overnight high of 1.4201

We have since had a big spike back up to 1.4198, and has currently settled back down around 1.4170

could be a cagey morning as we await the BOE and ECB rate decisions at 12.00 and 12.45 respectively

What are the English Cricket Board announcing?

inspector_monkfish

neilbond007 wrote: »

What are the English Cricket Board announcing?

hohoho

errm, probably that they will never set foot in Pakistan ever again !

inspector_monkfish

cable just flew like a rocket up from 1.4175 to 1.4215 in a matter of seconds......

http://www.youtube.com/watch?v=v3BRBq4AgLQ

http://www.youtube.com/watch?v=JvkbFc-th28

inspector_monkfish

wooaaahhh... its just gone again..... from 1.4210 up to 1.4231

this is the key fibo level - smash through this and we can all be rocket men...




altogether now:
'and i think its gonna be a long long time......'

jonathanrichardson69

so what happens when we get to your mark of 1.4225? are you expecting a big dip before it rises again? nice videos

inspector_monkfish

oops we just had a Shuttle crash, back down to 1.4195
profit taking hopefully after the extremely sudden rises

inspector_monkfish

jonathanrichardson69 wrote: »

so what happens when we get to your mark of 1.4225? are you expecting a big dip before it rises again? nice videos

if its to continue onwards and upwards through that level, it would need to hover around there for a while, with perhaps a slight dip, before gaining momentum to kick on...

after the sudden drop back to 1.4195, i'm not sure we are going to achieve this at this point..... maybe it will try again later...

inspector_monkfish

jonathanrichardson69 wrote: »

so what happens when we get to your mark of 1.4225? are you expecting a big dip before it rises again? nice videos

can't beat a bit of Mraz

inspector_monkfish

HBOS house price figs due any second now

cable at 1.4200

inspector_monkfish

FACTBOX-What is quantitative easing?

Central banks throughout the world are considering or turning to non-conventional measures like quantitative easing to keep credit flowing as they run out of scope to lower benchmark interest rates any further.
But what is quantitative easing? Here are some details:

WHAT IS QUANTITATIVE EASING?
-- Quantitative easing, notably employed by Japan from 2001 until 2006, refers to ways of boosting economic growth after traditional monetary policy tools, such as interest rate targets, have been exhausted.

-- Central banks flood the banking system with masses of money, more than is needed to keep official interest rates at zero or a low rate, to shore up financial systems and promote lending. They usually do this by buying up large quantities of assets from banks.

MAJOR CENTRAL BANKS AND QUANTITATIVE EASING:

* U.S. FEDERAL RESERVE:
-- Economists agree the Fed's various programmes to boost the flow of credit through the expansion of its balance sheet to over $2 trillion can be regarded as a form of quantitative easing.

-- On March 3, the Fed announced the details of the Term Asset-backed Securities Loan Facility, TALF. A $200 billion programme to lend against securities backed by student, auto, credit card and business loans, TALF could expand to $1 trillion and include troublesome mortgage and debt securities from banks.

-- The Fed is buying highly rated, U.S.-dollar denominated, three-month commercial paper through a special purpose vehicle to run until Oct. 30.

-- In January, the Fed started a programme to buy $100 billion in the direct obligations of housing-related government sponsored enterprises -- Fannie Mae, Freddie Mac and the Federal Home Loan banks -- and $500 billion in mortgage-based securities backed by Fannie Mae, Freddie Mac and Ginnie Mae.

* EUROPEAN CENTRAL BANK
-- ECB policymakers have said they considering all options to extend its monetary toolbox further, although they stress that no decisions have been taken.

-- Economists polled by Reuters give a 40 percent chance to the ECB embarking on quantitative easing in the coming months. [ECB/INT]

* BANK OF JAPAN
-- Bank of Japan policymakers have not ruled out a return to quantitative easing, although they have said it is unlikely or at least not needed for now.

-- While not constituting quantitative easing, the Bank of Japan is to buy up to 1 trillion yen ($10 billion) of corporate bonds maturing within a year. [ID:nT220574]

- It is also buying up to 1 trillion yen worth of shares held by Japanese banks. BOJ plans to sell the shares from Apr 2012 to Sept 2017.

* BANK OF ENGLAND
-- The BoE has asked for permission from the British government to formally embark on full quantitative easing that would involve the purchase of gilts and other commercial assets using new money.

-- Finance minister Alistair Darling is expected to give the BoE the go-ahead to purchase between 40-150 billion pounds ($56-211 billion) with which to purchase assets on Thursday. [ID:nL2700943]
-- The central bank already buys commercial paper under its Asset Purchase Facility. However, the scheme does not constitute quantitative easing as it is financed by the issuance of Treasury bills.

* OTHER CENTRAL BANKS
The Bank of Canada said on March 3 it would engage in quantitative easing if required after it cut its benchmark interest rate to a record low of 0.5 percent.

The Swiss National Bank has said it is studying unconventional measures such as foreign exchange interventions and quantitative easing to improve economic conditions.

The Bank of Israel said on Feb 16 it would start buying government bonds on the secondary market to improve liquidity.