Forex rebates on every trade - win or lose!

Blimey, SC - I was just going for a bubble.
Personal preference (when there's time to think) is a 10 min chart when starting a trade, but a 4 hr chart is an absolute minimum for other criteria. My MACDs are 19, 39, 9.

There are a few of us up north too, you know - and some very nice places to meet too - and I wasn't thinking of the Britannia either ;)

Thanks Choccy, but you really didn't need to stay up late to answer - this morning would have done ;-)

Weyhey - at last!

Good evening, FX players. New FX calendar for week starting Sunday June 4th is in the header.

ECB hikes refi rate to 2.75 pct from 2.50
AFX


FRANKFURT (AFX) - The European Central Bank raised its key interest rates, hiking the minimum bid rate on its main refinancing operations to 2.75 pct from 2.50 pct.

The decision was taken at today's meeting of the ECB governing council in Madrid and was fully expected by financial markets after ECB president Jean-Claude Trichet signalled such a move at last month's ECB news conference.

Some economists said there was an economic argument for a more aggressive 50 basis point rate hike, with euro zone growth gathering momentum, inflation accelerating and money and credit expanding strongly.

But the ECB had not given any clear signal that such a move was likely and there was a risk that a rate hike of this magnitude might have pushed the euro sharply higher, with negative consequences for euro zone exports.

The new minimum bid rate rate will apply from the refi operation to be settled on June 15.

The ECB also raised the rate on its marginal lending facility to 3.75 pct from 3.50 pct, and its deposit rate to 1.75 pct from 1.50 pct. These rate increases take effect on June 15.

Trichet will hold a news conference at 2.30 pm to explain the thinking behind the rate hike. Markets will be looking for any indications on the pace of further monetary tightening.

marilyn.gerlach@afxnews.com




The theory last week was that any fall in the euro over the short-term was likely to be limited to around 1.27, given market speculation that the ECB might have hiked interest rates by 0.5% today.

Back to Trichet and footie then :)

Trichet? Who does he play for, then?

Yen Carry Trade Is Doomed

Interesting.

Choccy, that Yen article is fascinating reading, thanks.

Thanks for that choc.

Been reading a bit of these guys for the last few months, certainly have a feel for where the markets probably headed! sorry cant do a link like yours, I'll learn one day

http://www.moneyandmarkets.com

presume spain have scored by the car horns!

Choccie: Do you need a .wav of me saying "The Yen Carry Trade is doomed"?

Thought you'd never ask, MM :)

YCT main reason I'm looking for a bit of long gold in the back pocket long term.

Everywhere you look Benjie Bunnie's being knocked for not toeing the Greensplat hyperinflation line. He might be the tough guy now - but I agree with the premise that it won't be too long before he opens the spigots in order to prevent a depression. Gold? Fill yer boots :)

Someone called around $540 as critical support, my wee Bourneville! ;-))

Typical - I get a day when I can do a bit of trading and it doesn't look at all safe to play. Have to do some stuff in the bathroom so looks as if it's gonna be DIY rather than TIY :(

Will take a look around lunch-time - could be a bit of action on Cable between 12:00 and 14:00 with those announcements.

Could be a game of Golf instead - after last week I think I need to get out more !!

Funny but when I talk to my wife about trading cable mg she tells me I should get out more :-)

my wee Bourneville -- dark, rich, sweet, addictive, with a hint of bitterness.

Blimey, Big Al, you sure know a chat-up line . . ;-)

Nah - that's Cointreau with a touch of Guinness ;)

Harlosh
Your wife is right, of course, problem is that we don't have any mates ;(

I could play Golf with my imaginary mate - who is an ace trader and always wants to play Golf - but he tells me he's busy - so I'll have to finish the bathroom chore - he said he'd help me with that - bloody creep.

Any way, came in to have a look at the charts and I've decided to go short based on the 60minute MACD @ 18530 (19,39,9). Could be a fake but if it completes the turn-over there are a good few points.

Stops (and plugs) in place whilst I'm bathrooming.