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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3053
Forum Topic:

GBP

Discuss GBP
 
Stationdealer
London, UK
Posts: 715
12 years ago
May 24, 2010 11:05
My strategy is that GBP will make gains till, the budget and its finer details are announced.

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.
montmorency
Abingdon, UK
Posts: 610
12 years ago
May 24, 2010 10:58
BTW, I think Osborne will put VAT up to at least 20%. Even 25% would not surprise me. That would send some messages.
montmorency
Abingdon, UK
Posts: 610
12 years ago
May 24, 2010 10:43
And yet you are bullish on cable?
Stationdealer
London, UK
Posts: 715
12 years ago
May 24, 2010 10:29
When the governments of Sweden and Canada in the mid-1990s needed to make huge budget cuts, they realised that this would perhaps not be the most popular move. So with good political instincts they made them deep and early in their administrations. Thereby winning time to have an election many years hence.

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.
Stationdealer
London, UK
Posts: 715
12 years ago
May 24, 2010 10:05
Buying GBP for 15050.
INGbalek
Trencin, Slovakia
Posts: 120
12 years ago
May 24, 2010 8:49
as for indices..there could be a possibility of shotterm support bounce, maybe 2-3days, before the huge downmove could be back..
REDSTONE
bRISTOL, UK
Posted Anonymously
12 years ago
May 24, 2010 8:10
many thanks.
speculator
Posted Anonymously
12 years ago
May 23, 2010 21:40
yes if tha happens
redstone
brstol, United Arab Emirates
Posted Anonymously
12 years ago
May 23, 2010 8:28
H Spec. Some are sayng that the Dow s lookng at another 1000 pt fall between now and July. If thats the case would cable ht 137 ? Many thanx.
speculator
Posted Anonymously
12 years ago
May 22, 2010 20:48
i believe cable has further to fall to 1.40 at least. there is not much media speculation on sterling at present as all eyes have been on euro. so despite non comercial speculation being high against sterling, media speculation is limited.

the euro is highly media covered at present and perception was incredibally bearish hence the bounce this week. it is too early to establish that a new euro trend has emerged.