EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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my best month so far in over last 7 years
25k in profits pocketed and still 8 profit trades running wild
Plus did you hear this one; Bank Of England Made 8 Bln Profit From Quantitative Easing Fund
The Bank of England is sitting on an 8 bln net profit from its 200 bln quantitative easing fund
And it seems what ECB is doing exactly not by printing money but by issuing bonds, and with all the purchasing it seems like ECB is going to owing most of bad debt % currently sold widely through out by European banks. That debt once settled & collect under one umbrella where there will be no rating agency dare nosey around will remain safe. And once bonds settles and libor turns as soon as ECB clears much of this mess things will start getting better.
What no one is thinking about right now once ECB holds max % of this debt and they start raising interest rates how competitive this debt and sort after it will become.....This is a very clever hand.
PIPSTER Stops are eyed above the 1.4650 level in cable, traders report. Typically, well trigger the stops, get a few new longs on board, then pullback1.4610 is now support.
Gilts returned 2.2 percent since Camerons Conservatives agreed to govern with the Liberal Democrats on May 11, compared with 1 percent for U.S. Treasuries and 2 percent for German bunds, according to indexes from Bank of America Corp.s Merrill Lynch unit. Ten-year gilt yields fell to the lowest in more than seven months on May 25, a day after the government announced 6.25 billion pounds ($9.1 billion) of spending cuts for 2010.
Well no one has really been talking about GBP for while since I thought it would perform really bad around post election session but start doing exceptionally well right after. As GBP has been one of the currency that has suffer most since 2008 but I some reasonable strength ahead specially if the uncertainty on US's recession confirms and continues. Last time we had Euro that stole away GBP limelight once GBP went over $2. But i guess Euro will remain checked but I do see significant gains there too as its really cheap to buy here.
Remember last time the yanks took over a year to admit that they were in recession, I dont see why they wont keep playing the same high card till we wont see 4 5 months of really bad economic declines.
So go figure
Could I get your take on the gbp/Usd - I am reasessing my trading plan and now see 1.4723 as a potential area to short. I've been away and am not sure what you guys and Ashraf have said about Gbp/Usd -
Thanks
http://www.bbc.co.uk/blogs/thereporters/stephanieflanders/2010/05/time_to_worry_about_inflation.html
"UK must raise interest rates, warns OECD
Organisation for Economic Co-operation and Development, the Paris-based thinktank, says Bank of England must raise rates no later than last quarter of year"
[Larry Elliot, Wednesday 26 May 2010 17.39 BST ]
[...]
"In its half-yearly health check on the global economy, the Organisation for Economic Cooperation and Development (OECD) said Threadneedle Street should start lifting the interest rate from its emergency level of 0.5% in the second half of the year.
However, a positive update from the Paris-based body on the outlook for economic growth helped global markets rebound from losses earlier in the week. The FTSE 100 ended nearly 2% higher at 5038.08, recovering the bulk of Tuesday's 2.5% drop, while Wall Street was about 50 points higher in early trading. France's CAC 40 added more than 2% and Germany's DAX rose 1.5%.
The OECD also said the Bank should simultaneously start to withdraw the 200bn of quantitative easing the electronic money pumped into the economy in a bid to lift it out of its worst postwar recession."
[...]
"The OECD said a more rapid attack by the coalition government on Britain's record peacetime budget deficit would allow interest rates to be raised more gradually.
The thinktank gave strong backing to the government's fast-track approach to repairing the hole in the public finances left by the recession, noting that further fiscal consolidation was essential.
It added, however, that the slow pace of Britain's recovery meant the Conservative-Lib Dem coalition should be wary of administering too much pain now."
[...]
"The economic outlook said growth in the 30 OECD nations would hit 2.7% this year and 2.8% next year. That compares with forecasts last November of 1.9% for this year and 2.5% next. Growth in the US is predicted to be 3.2% in both years, but the crisis-hit eurozone is expected to expand by just 1.2% this year and 1.8% next.
The OECD said it could not rule out a "boom-bust" in emerging markets such as China and India, with knock-on effects on other regions. Strong growth in emerging markets meant the global economy would expand by 4.6% this year and 4.5% next year.
"Instability in sovereign debt markets poses another serious risk. It has highlighted the need for the euro area to strengthen its institutional and operational architecture," the OECD said."
[...]
Nothing new there then.
Cameron says rise in inflation is worrying and BOE will need to set interest rates to control it, while at the same time saying reducing government borrowing will help ensure interest rates can be kept lower for longer.
I think Ill just stick with what I think, basically Uk rates aint going anywhere for time being.
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