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

inspector_monkfish

UK Industrial output and manufacturing output due at 9.30am today

inspector_monkfish

trading at 1.3845 now
well off the opening low of 1.3775

jackieblack

What on earth were you guys up to yesterday......:eek:

Left on Friday $=1.42
This morning 1.38!:mad:

Now you can't blame that on me.........:D

neilbond007

jackieblack wrote: »

What on earth were you guys up to yesterday......:eek:

Left on Friday $=1.42
This morning 1.38!:mad:

Now you can't blame that on me.........:D

It was quite a day jackie.
Now I'm not one to gossip.... BUT.... this new boy came on. He was nasty to our fishy friend. Said he smelt of fish and he didn't know his 2 times table... we all know only 1 of these is true

jackieblack

I've been reading back over yesterday's posts.....

Handbags down today please,

one question though...

how are you going cope without YouTube today?

lisaloo1977

:eek: Lmao ^^^^^^^^^^^^^^^^


Obviously that was aimed at Bond and not Jackie,

jackieblack

inspector_monkfish wrote: »

trading at 1.3845 now
well off the opening low of 1.3775

So... any predictions for today?

neilbond007

jackieblack wrote: »

I've been reading back over yesterday's posts.....

Handbags down today please,

one question though...

how are you going cope without YouTube today?

why, has it gone bust? it can't have... i've just been looking at it!! i mean working hard boss.. .
a great early morning song -
http://www.youtube.com/watch?v=WumSB0vZ5l8

inspector_monkfish

08:02 10Mar09 (GBP) January industrial production data awaited

(GBP) UK Jan industrial production data, due today at 09:30GMT, should reveal another m/m fall, of 1.0% in Jan, weighed down by an expected 1.4% decline in manufacturing output. The headline IP figure would actually mark a deceleration in the pace of decline from the 1.7% m/m drop witnessed in Dec, and should this be the case, it would suggest that output began the year and quarter on a slightly less weaker footing, although it would still be coming from a very weak base.

Survey data from the CBI in particular continue to reveal that the weak GBP hasyet to provide a boost to UK exports of manufactures, with the evidence instead being one of a continuous deterioration in export orders since Jul 08. Export orders are reportedly at their weakest levels since Nov 2001, due to the impact of the downturn in the economies of the UK main trading partners. And with manufactured goods accounting for close to 80% of total UK exports (and forming some 79.2% of total IP), it is evident that UK industrial production will suffer as global demand continues to deteriorate and manufacturing output declines. Manufacturing output is already down 10.7% from its high point reached in Oct 07, and our forecast for Jan, should it materialise, would drag it down by 11.9% since Oct 07 (a 15 month period). This is not as bad as the situation that prevailed in the early 1980s, when manufacturing output dropped by a vertiginous 17% in Jan 1980 - Jan 1981, but it is not too far off. Indeed it already exceeds the 7.7% peak-to-trough drop in manufacturing output thatwas witnessed in Mar 90-Aug 91.

As for headline IP, the impact of the drag from manufacturing could be
mitigated by positive output in the utilities/energy and oil & gas sectors,
which in our view could limit the fall in overall output to 1.0% m/m, vs the
market expectation of a 1.2% m/m decline. But the quarterly rate will still be
dire, at -5.2% in the 3mths to Jan, from -4.5% in the 3mths to Dec. Our
forecast for manufacturing would push the latter's 3mth/3mth rate down to -6.2% in the 3mths to Jan, from -5.2% in Q4.

But the market is probably inured to bad economic data these days, and with investors more concerned about the state of the banking sector, the IP data are unlikely to do much to lift GBP out of the doldrums, even if the headline figure does turn out to be less bad than the consensus forecast. EURGBP in particular can approach 0.9285 in the s/t, should it break 0.9205 resistance.

neilbond007

jackieblack wrote: »

So... any predictions for today?

i think the aussies will beat SA and the england windies game will peater out to a draw.
i think liverpool will go through but chelsea might struggle

oh, the $ rate. well that'll be 1.35 before we know it (reverse psychology here)