AUTOREFRESH 
Cable lower. Public finances data due
By Gerry Davies || March 18, 2010 at 06:44 GMT
|| 4 comments || Add comment
Cable has given back a chunk of yesterday’s gains, down about a full cent from recent high, presently at 1.5290.
Some event risk for sterling today in form of February public finances data. Will also be interesting to see mortgage approvals given the recent slowdown in the UK housing sector.
Release calender as follows:
09:30 GMT: UK major bank mortgage approvals for February expected 54k
09:30 GMT: PSNB for February expected 14 bln; PSNCR expected 11.0 bln
09:30 GMT: M4 money supppply for February expected +0.8% m/m
11:00 GMT: UK CBI industrial trends for March
09:30 GMT: UK
Morning Gerry,
what are your thoughts on Cable today? Do you think we’ll see a move below 1.5220 today during London session?
Cheers
These are my thoughts on cable of late, rather than specifically today. I thought 1.5250/1.5300 would be good area to go short and ofcourse it went to 1.5380. Not to worry just gave better levels to go short, but scary stuff. Below 1.4900 looks little cheap. I base my thinking, in no small part, on fact like Sean I see EUR/USD stuck in 1.3550/1.3850 range for time bein, 1.3450/1.3900 on the outside. I have no real clue whether well see move below 1.5220 today, just aint that clever. I surely hope we do. There is a chance I guess with public finance data due out.
Hello Gerry,
I thought you liked a strong pound. Now you are hoping it will move lower?
What about shopping in New York? Have you given up on that?
Hi pips. like it lower while im short at least. yes given up on new york for now. given weak pound looks like ill have to vacation at home this year.