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Posts by "stationdealer"
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Posts by Anonymous "stationdealer":
Considering Euro is still coming into its correction range bound mode for a while.
Aussie fundamental still look firm for month ahead.
Gold still find its support below 1100 before a big move up.
Considering Libor will correct a little over 3.5 %
Inflation decreasing that may play a little positivity on US equities
Plus after a slow growth seen through out winter season we will start getting better figures. So till august i see up side.
Let wait and see what Jim O'Neill has to say a bit later on much of market sentiment.
Today the new chancellor George Osborne is announcing a downpayment of 6 billion in cuts to Government spending. Really this does not even qualify as a rounding error (indeed the most recent published PSBR was more off target than 6 billion).
There is a budget next month to go for the real deal, but when 60 billion needs to be taken out of public sector and away from future taxpayers debt burden, speed is of the essence. I can only hope that the government realises that death by a thousand cuts is a form of torture and not a successful political strategy.
Chinas central bank chief has said (over Reuters) that the European debt crisis will not change the global recovery following it up with China/US agreed to support European efforts to overcome debt crisis. EUR/USD looks like it is trying to find a base around current levels after tripping stops below 1.2450 earlier on the Spanish general strike talk (and thats all it is at this stage).
In other pairs, AUD/USD short positions were cut by a whopping 36% and given the moves in the latter part of last week, positioning may have moved to short given the extent of the AUD/USD sell-off. UBS say AUD short positions (through the CME) have rarely lingered for long and although downside risks remain, significant positioning inspired support could now be engaged.
Greece has adopted very strong measures, shown will to put them in practice
Europe is taking steps as well as to strengthen budget rules
Italy must cut public spending to get room to reduce taxes
Italy, other countries budget laws objective is return to primary surplus
Rigorous stability pact has been positive factor for Italy
Euro zone recovery will be slow, gradual, with highs and lows and subject to risk
Risk to recovery are raw material prices, unemployment and changes to market structure
Maybe its me, but this chaps comments always leave me cold. Hope hes more exciting out of the office. Come on Lorenzo, pep it up a little. Born in Florence, lucky bugger.
mate what you need to realize is that Euro-zone is a big business force and every penny counts, Certainly our pound is not all that bad but what you must look at is all the revenue it bring in. That is a big positive for the UK and weaker pound exports which we don't have many left.
Pound cyclically stays low for some 4 -5 sometimes 10 to 15years till it wake up again, and starts kicking it like a rock start again.
ECBs Stark: The Euro Is Not Weak
ECB board member Juergen Stark on German radio has opined It is not the case that we have a weak euro at the moment, the purchasing power of the euro is secured and will remain so. The official added Our monetary policy has not changed and the measures we decided on May 9 did not result in a loosening of monetary policy.
and im saying nothing.