There are a few dynamics happening here; firstly we are seeing a lot of GBP shorts covering their positions as the prospect of indefinitely low interest rates recedes. Secondly we are seeing some significant buying of sterling by real money … Continue reading
The latest low has been 1.4168 and this trend is becoming entrenched. I think that EUR/USD will now struggle to get back above 1.4250/75. Cable has also triggered the first wave of stops below 1.6290.
Now we know why the cable is holding up and why there are stops below 1.6290 and 1.6270. I’m hearing of some solid real money bids at 1.6300 and just below.
With the Republican victory in Massachusetts, the Chinese curb on bank lending and further optimistic assessments of global growth in 2010, the European market will have lots to think about today. The bearish sentiment for the EUR is now well … Continue reading
The burst of activity in sterling after reports on a Kraft/Cadbury deal has now quietened down although the pound is still doing well, holding on to its session gains. Regional equity markets are virtually flat and gold is 0.5% higher at … Continue reading
Reports that an improved offer from Kraft has been accepted by Cadbury’s has sent the pound higher with cable above 1.6400 and EUR/GBP tumbling below .8780.
Cable closed in NY above its recent trendline resistance and further gains look possible. Sentiment for the pound has undergone a major change since the new year was ushered in and many analysts are now looking for significant gains especially … Continue reading
Cable got as high as 1.6292 but is now back under 80 after the latest monthly Rightmove survey of UK home asking prices showed an increase of 0.4%. The search activity in the housing market also showed a significant increase, … Continue reading
The Dubai rumours which Jamie mentioned below are probably to blame for the moderately risk-averse opening in the interbank market. EUR/USD is at 1.4350, cable is trading at 1.6240 and AUD/USD is at .9210, all below their NY closing levels. … Continue reading
It isn’t today’s leadership challenge ruck that’s at stake here, from where I’m sat sitting snuggled in from the snow. What’s more, it all ended as quickly the way the last rebellion did, some six months back, presumably after Baron Munchtrousers once again … Continue reading