AUTOREFRESH 
UK trade data disappointing
By Gerry Davies || February 9, 2010 at 09:39 GMT
|| 3 comments || Add comment
UK December global trade balance has come in at -£7.278 bln, demonstrably worse than median forecast of -£6.63 bln, and a deterioration from revised -£6.798 bln seen in November.
Trade gap widest since January 2009.
Data not helped sterling, cable back bel0w 1.5600 again, presently at 1.5585.
EURGBP near the 38.2 retrace of the 9152-8602 move down. Whatever that means…
any idea when the M&A flows from deals like cadburys might start going through? would imagine that with cable being so low now would be a great time for them to put those moneys through (which would also maybe give cable a major lift)?
Talk of buy interest @ 1.5500 for GBPUSD if that barrier is threatened, there is support @ 1.5533 though … before 1.5500