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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3054
Posted: Feb 22, 2010 5:00
Comments: 3054
Forum Topic:
GBP
Discuss GBP
I guess I'll continue to buy on dips till 153 and then sell from there.
I would hold off until it pushes higher - hopefully later this week -
Station Dealer has mentioned he is looking for the 153 area, and I would look for around that area too
what do you think guyz?
I'll be your apprentice. I'll get the job done no fees, just guidance required :)
It was only yesterday that I was thinking whats happened to Station. Good to have you back :)
RBA leave rates on hold at 4.5%
Statement highlights: Euro growth uncertain and pressure still on EZ banks; US labour market recovery slow; growth in China moderating; inflation in upper half of target zone; policy appropriate for moment
Chinese property market at beginning of collapse:http://noir.bloomberg.com/apps/news?pid=20601087&sid=aA9Y5VxWh9lw&pos=4
New Japanese FinMin watching stock and FX markets closely
Australian May balance goods and services +AUD1.6 billion
S&P futures were 1% lower in early trade following on from a 1% fall on Canadian markets and this led to an atmosphere of risk aversion in Asian FX markets, led once again by the AUD/JPY and EUR/CHF pairings.
AUD/USD opened at .8390 but after failing to retake .8400 in very early trade it fell below yesterdays .8375 low and only stalled when corporate bids entered the market around the .8320/30 level. The rebound on Asian stockmarkets helped the AUD recover pre-RBA decision. Range: .8318/99
USD/JPY tried on a few occasions to mount momentum for a test of 87.00 fuelled by selling in the cross pairs but the comments from the FinMin helped engineer a bounce on the Nikkei and the JPY crosses bounced as well. Ranges: USD/JPY 87.42/77, EUR/JPY 109.16/110.08.
EUR/USD fell under EUR/JPY and EUR/CHF selling and triggered stop-losses below 1.2490 before bouncing on the verbal intervention. EUR/CHF has remained heavy throughout the session, failing to bounce off its lows. Ranges: EUR/USD 1.2481/1.2555; EUR/CHF 1.3290/1.3356.
Cable has traded in a 1.5084/1.5155 range and EUR/GBP .8266/89.