Forex rebates on every trade - win or lose!

Hil, fine, but how do you reconcile 8-10% interest rates with entry to the Euro?

Or is this just your way of saying that Euro-entry in impossible given the radical differences in our economic structures?

(Please don't infer that I'm a Euro-enthusiast . . . :)

MM,

It appears that neither of us are Euro enthusiasts.

:o)

Personally, I can't see us joining the single currency for a long, long time yet, if at all. The sooner Bliar gets the message that it'll never work into his thick head, the sooner we can all move on, imo.

Ah - but it ain't up to Bliar... we have Chancellor Brown to contend with, and we'll not be moving on for a while to come.

Indeed, choccie. It's a worry. He's got even more sawdust between his ears than Bliar.

Sawdust or not, at least there's little sign of Euro-enthusiasm from Brown either.

In yesterday's FT, Wolfgang Munchau wrote that the lack of a political union is what threatens the Euro. In fact, he claims that the new constitution will be ineffective and lack the authority to enforce economic policy. So the Euro might fall apart, he says.

Well there we have it from a German then - there'll be a queue for the Berliners' new currency next.. ;)

oops wrong window!

chocolat...you mean Prime Minister Brown...by then
dont like him...but it will happen

House prices in Wales fell 8%...last MONTH...

No point in wasting emotion on any of 'em, foale..

Anyone been here?

http://www.euabc.com/index.phtml?action=set_country&country_id=28&word_id=220

Greenspan certainly jerking the pound up at the moment!

The mind boggles over that comment, hodgins.

:o)

WASHINGTON (AFX) -- The U.S. economy has regained its footing after slipping into a soft patch in June, Fed chief Alan Greenspan said.

'The most recent data suggest that, on the whole, the expansion has regained some traction,' Greenspan said in prepared remarks to the House Budget Committee.

Greenspan said consumer spending rebounded in July and job growth picked up in August.

The positive comments from the Fed chairman on the economic outlook match the expectation of Fed watchers. They said that upbeat comments on the economic outlook would cement expectations of a third consecutive quarter-point rate hike when the FOMC meeting on Sept. 21.

The Fed chief had soothing words on inflation, saying that rising non-oil import prices 'have lessened,' helping to lower core consumer price inflation.

'Despite the rise in oil prices through mid-August, inflation and inflation expectations have eased in recent months,' Greenspan said.

Greenspan said economists disagree about the impact of rising oil prices on the economy.

He said the outlook for oil prices 'remains uncertain' due to a wide range of factors, including potential heavy demand from the rapidly growing economies of China and India.

what just happened to cable ? it dropped from 1.7876 to 1.7846 in 3 minutes, having hovered around 1.7875 for the last hour or more. Was there some news or data ? Not complaining (am short), just can't find the reason.

July Visible Trade Balance at 9:30, Hotei.

No position in Cable ahead of MPC .... I figure it could whipsaw a bit ahead of the news. Instead, I'm currently long EUR/USD and long USD/CHF. They're both going the right way, atm. Weird, huh?

thanks hilary - 10 points a minute - I like that rate (when I'm on the right side of it !)

??? Has everyone given up on Forex - cable?

I have managed to recoup my small loss & am now flat but can't decide next move - any ideas????

You should be long greenback atm imo, Sue. I am.

Sue: Always heed the advice of a *professional* ;-)

Afternoon, Hil :)

long - so you mean buy?

As it is usually quoted /$ you would actually be short but yes you are long the dollar. Euro/$ quoted that way also.

$/Swiss and $/Yen most commonly quoted the other way around so on these instruments your trade would be long.

So effectively you are long or short the first quoted.

Well long would (no position here) have been successful today coming off a couple of hourly support levels which is the timescale that those who really move the market use.
No position here yet but getting back on short looking at 20 day hourly, horizontal support levels ( very much looked at in FX)and from the contrarian trade angle starting to look attractive.
Downward channel continuation supported by probable fundamentals. Much more upside-breakout?-probably unlikely?