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

inspector_monkfish

jonathanrichardson69 wrote: »

well i can't handle this, so i'm off now, speak to you tommorow.

:rotfl: ciao

back up to 1.4090

inspector_monkfish

ending the day around 1.4115

inspector_monkfish

happ friday to all

the rocket is fuelled and ready for take off.....

cable trading at 1.4255 currently

inspector_monkfish

07:36 06Mar09 GBP/USD: Buoyed by Rumour NFP Could Approach Minus 1 Million

[07:36 GBP/USD: Buoyed by Rumour NFP Could Approach Minus 1 Million] London, March 6. Cable has tripped batches of buy stops above 1.4200 en route to a 4-day high of 1.4281 in early European trade, as the continent absorbs a late US session rumour that February"s US Non-Farm Payroll number could approach the minus 1 million mark. Minus 648k is the consensus forecast. The number will be revealed within February"s US employment report, which is due at 13:30GMT today.

1.4305 (Monday"s early Asian session intra-week peak) and 1.4385 (Feb 26 top) are sterling resistance levels. 1.4108 was today"s early Asian session base. 1.4037 was yesterday"s post-50bp UK rate cut and QE announcement low.

BoE Governor Mervyn King yesterday said that "I think it is very unlikely
that interest rates will go any lower" (Sky News website). Bank Rate is 0.5%,
having been 5.0% at the start of Q4 2008.

The BBC has learned that Lloyds Banking Group is close to a deal with the
government whereby GBP 250bn of assets would be insured under the UK Asset Protection Scheme. The BBC says the agreement could increase the UK taxpayer"s share in LBG from its current level, "according to sources at the Treasury". "UK set for 70% economic stake in Lloyds" is the headline of an article in today"s FT. LBG shares have been hit hard of late on the back of uncertainty re: the bank"s use of the APS. An announcement was expected last Friday (Feb 27). LBG shares closed at 40.3 pence yesterday.

jonathanrichardson69

are we hoping for the US non-farm payroll number to be at minus 1mill. Which is better for us??

inspector_monkfish

jonathanrichardson69 wrote: »

are we hoping for the US non-farm payroll number to be at minus 1mill. Which is better for us??

what kind of world do we live in where we wish for 1 million people to be taken off the payroll???

inspector_monkfish

jonathanrichardson69 wrote: »

are we hoping for the US non-farm payroll number to be at minus 1mill. Which is better for us??

have a read of this....

scroll down to the bit that says 'How Will the US Dollar react?'

http://www.dailyfx.com/story/bio1/US_NFPs_May_Fall_by_1236281860091.html

jonathanrichardson69

ok, reading that, it looks like we would be better off it the numbers released matched the forecast number.

jackieblack

ok, I just read

"fundamental US data does not tend to have a logical impact on the currency"
and
"if we see that NFPs fall more than expected and the unemployment rate climbs above 7.9 percent, the news could trigger losses in risky assets like stocks, trigger flight-to-safety, and thus, boost the US dollar against currencies like the euro. On the flip side, if job losses and the unemployment rate don’t climb quite as much as anticipated, the news could spark enough optimism to boost demand for stocks and forex carry trades, and subsequently lead the greenback lower."

neilbond007

morning all! a little stiff this morning after fitting 18 holes in in 1hr 40! shot 79. not only a £:$ expert but a potential pro golfer too. may be a little late for the PGA... i'm aiming for the seniors (my god that's scary)

looking pretty nice his morning!

PS - I'm not an IT geek. I'm "from the industry"