Apparently Cititechs have gone long cable at 1.6679, target 1.6960, stop 1.6550.
Cable sits at 1.6735, where it closed in North America Tuesday, recovering after a slight dip to 1.6712. Some important data/events today: 09:30 GMT: UK unemployment for October. Jobless claims expected 20k, claimant count 5.1%, ILO unemployment 3M to September 8.0% … Continue reading
With traders looking for much better than expected numbers, longs have had to trim positions in AUD, EUR and GBP, pushing them back to the day’s lows so far. EUR has found support just ahead of 1.4970 and AUD just … Continue reading
The talk in Asia this morning is that there is a lot of stops above the 1.6760 level, all the way up above 1.6800, with market sitting short from yesterday’s Fitch comments.
Cable began its overnight tumble at the 1.6750 level, fell to 1.6605, rebounded virtually 100%, to 1.6745 late in Europe only to dip to 1.6680 again. We’re on our way back once again, and suspect that some stops are perched … Continue reading
Another remarkable session for GBP. It plunged late in Asia after Fitch warned that the UK is the most vulnerable AAA sovereign credit to a downgrade. A sharp drop to 1.6605 from 1.6750 was seen on long liquidation but prices … Continue reading
Gordon Brown says that the UK has already taken steps to assuage concerns over government borrowing with a plan to cut the budget deficit by half over four years. The PM told reporters at a regular press conference “We have assured … Continue reading
UK September visible trade deficit has come in at -£7.194 bln, worse than the median forecast of -£6.1 bln, while non-EU balance has come in at -£3.783 bln, worse than median forecast of -£3.0 bln. Elsewhere, DCLG house price data has … Continue reading
Cable sits at 1.6645 in steady trade. Buy orders noted at 1.6600/10, some sell orders up at 1.6680. Stops seen gathered down at 1.6590/95. Data up in about 40 mins (09:30 GMT) Trade for September: Visible trade deficit -£6.1 bln, Non … Continue reading
Both the USD/CHF and the GBP/USD have broken potential USD-bottoming patterns in recent days and now the EUR/USD and the AUD/USD are closing in on recent highs. Breaks above 1.5060 and .9325 respectively would leave only USD/JPY support at 87.10 … Continue reading