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BOE’s Sentance: Lots of data suggests UK economy growing in second half of 2009

By   || November 25, 2009 at 19:51 GMT
|| 10 comments || Add comment

BOE MPC voter Sentance is on the wires with some upbeat comments on the UK economy. He says he sees growth in the second half of the year and says he is” not sure it is clear that the UK is in recession”. How very British. I think that means the UK is out of recession.

Cable is consolidating gains at 1.6715.

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Category: All, Americas, Central Banks, Regions
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10 Responses to “BOE’s Sentance: Lots of data suggests UK economy growing in second half of 2009”

  1. Adje on November 25th, 2009 19:54 GMT

    UK buys Banks, India buys gold. I wonder who will be laughing at the end.

  2. Tajul Akbar Bin Ismail on November 25th, 2009 19:54 GMT

    Gonna sleep for a few hours, asian opening will be interesting … happy trading all :-)

  3. Adje on November 25th, 2009 19:56 GMT

    Nite Tajul

  4. Trading Nymph on November 25th, 2009 20:02 GMT

    Lilac…Are you still in recession over there?

  5. Bruce Knudson on November 25th, 2009 20:12 GMT

    Cable is consolidating gains at 1.6715 after reaching highs of 1.6745 on the panic buying which came as EUR/USD blasted through 1.5100.

    Jamie I am not sure what this means. When the EUR/USD takes off —does that suggest the GBP/USD will usually go as well–and why would you call it panic buying of the Sterling??

    Lastly been meaning to ask you. Who wags the dog on GBP/JPY?? Is it GBP/USD and USD/JPY moving in tandem (suppose to have 92% correlation) or is it the GBP/JPY buying/selling that moves the other two???

  6. lilac on November 25th, 2009 20:13 GMT

    Ask a silly question, nymphie ;)

    Soz, Adje, was away from the screen – someone probably has a sore head now.
    And no doubt someone else started the China 1.51 rumour this morning for the sake of Monday’s DNT – which is real enough.

  7. Adje on November 25th, 2009 20:38 GMT

    I have a sore head. :-) Lilac, all I knew was that last week DNT options where set. These were barrier options. I believe Gerry once mentioned that Barrier options seem to attract price and it seems so. I got stopped out @ 1.5103. Still living here.
    Now, wasn’t JPM predicting EUR/USD in Q2 of 2010 @ 1.6200 level?
    1.5040 held for time being. I think when I wak up tomorrow morning that the red day line will turn green.

  8. Trading Nymph on November 25th, 2009 20:46 GMT

    Lilac…lol….yep, kinda totally knew your answer when I asked….

  9. lilac on November 25th, 2009 20:51 GMT

    Sorry to hear that, Adje :(
    Like I said, Monday’s DNT was real enough, and it’s likely played right into someone’s game.
    Guess all we have to play for now is hunt the right China rumour ;)

  10. Sean Lee on November 25th, 2009 22:04 GMT

    Hi Bruce. If EUR/USD accelerates higher then 98 times out of 100, cable will follow suit tho not always at the same pace.
    Regarding GBP/JPY- it really depoends on the market at the time. last year we had both cable and USD/JPY falling fast and GBP/JPY collapsing whereas during the ‘carry trade era’ both legs were going up. The ‘real’ transactions tend to bein GBP/USD and USD/JPY wheres GBP/JPY cross is more of a speculative trade

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