Euro (€) Currency Thread

inspector_monkfish

08:22 01Apr09 (DEM) Feb retail sales weaker-than-expected

(DEM) German retail sales surprised market participants on the downside in Feb by showing a 0.2% m/m fall, close to our lower-than-consensus forecast of -0.1% m/m (vs +0.2% m/m expected by the market), following a 0.9% m/m drop in Jan.

To us, the Feb fall comes as no surprise. Indeed, cooling labour market and great uncertainty regarding the economic outlook should keep German households under great pressure. Note that the Mar figure should show a further m/m decline, which would pave the way for a steep detraction of household spending from Q1 09 GDP growth. We expect private consumption to detract around 1-1.5pp from 2009 German GDP.

inspector_monkfish

waynehayes wrote: »

1.086 now, been rising overnight. Why's that then?

more buyers than sellers

loveunit

morning.. looking very good today

please can you explain this?

A UK clearer recently issued a recommendation to sell EUR/GBP, targeting
0.8300.

thanks.

inspector_monkfish

loveunit wrote: »

morning.. looking very good today

please can you explain this?



thanks.

sure,
it means a UK clearing Bank (one of HSBC, Lloyds, RBS or Barclays) who are obviously going to be big big players in the Forex Markets, have recomended selling EUR and buying GBP. Targeting 0.83 eventually.

With it currently trading at just under 0.92, thats quite an interesting target.


0.92 equates to just under 1.09
0.83 equates to 1.205


hope that helps

inspector_monkfish

Eurozone Unemployment was expected to be announced as 8.3%

Actual figure was just released as 8.5%:eek:


gbp/eur trading at 1.09

loveunit

thanks monkfish for the reply - do they also give an indication of when this target might be reached?

inspector_monkfish

10:05 01Apr09 Eurozone Mar unemployment increases again

09:05 GMT - The [EUROZONE MAR UNEMPLOYMENT RATE] jumped to 8.5% from 8.3% in
Feb, revised from 8.2% previously. Data from Eurostat showed that the
Spanish jobless rate picked up significantly to 15.5% from 14.8% in Feb,
the highest in the region, with all other countries in the eurozone seeing
increases in unemployment.

inspector_monkfish

loveunit wrote: »

thanks monkfish for the reply - do they also give an indication of when this target might be reached?

haha
unfortunately not one they have made public !!

loveunit

thought it was worth an ask.. well.. small dip as I said it, but seems today and tomorrow should be good for the £ or bad for euro - same result...

inspector_monkfish

LONDON, April 1 - The Bank of England said it received an offer-to-cover ratio of 1.25 when it bought 3.5 billion pounds of five-nine year gilts on Wednesday as part of its 75 billion pound ($107.6 billion) asset purchase scheme.

The BoE said investors offered to sell 4.36 billion pounds worth of securities.

The central bank had earlier said it would exclude the 4.5 percent 2019 gilts from Wednesday's auction as the bond will be sold by the Debt Management Office within the next 7 days.