Forex rebates on every trade - win or lose!

I learnt something new this week - I'm an ectomorph!
So nope, Harlosh ;)

Can I have some of what you're on please :)

Niiice one meggers and thanks Dezza.
And where's Hils?

WASHINGTON (AFX) - The US economy is expected to pick up its growth rate as the year progresses and inflation should continue its retreat, a top Federal Reserve official said today.

'I am pleased with the current direction of inflationary impulses,' Dallas Fed President Richard Fisher said in prepared remarks to the Park Cities Rotary Club in Dallas, adding 'I am as comfortable with the inflationary outlook as a prudent central banker can be.'

Fisher pointed to the Commerce Department's announcement last month that the US economy snapped out of a sluggish spell and grew at a faster-than-expected 3.5 pct pace in the final three months of last year as consumers ramped up spending despite a painful housing slump.

Fisher called the 3.5 pct figure a 'gee-whiz number,' and predicted it would be revised slightly lower to somewhere in the neighbourhood of 3.0 pct. He said he expects the economy to grow at about 3.0 pct this year.

'And if we at the Fed do our job well, we should be able to accommodate that growth rate while bringing inflation down below 2 pct,' he said.

The Fed's preferred measure of inflation, the core personal consumption expenditure price index, rose 2.1 pct in the quarter, slower than 2.2 pct rise in the fall.

Fisher is not a voting member of the interest rate setting Federal Open Market Committee, which last month left the key federal funds rate unchanged at 5.25 pct, where it has been since June. The Dallas Fed chief is scheduled to become a voting member of the FOMC in 2008.


NEW YORK (AFX) - Wall Street retreated sharply Thursday as investors glumly absorbed a spike in oil prices and comments from two Federal Reserve officials that unexpected economic growth could prompt an interest rate hike. Investors began to sell after St. Louis Fed President William Poole and Dallas Fed President Richard Fisher both warned rates will go higher if inflation doesn't ebb. Wall Street has been looking for any clues about how central bankers are viewing the economy, and which way it might lead on interest rates this year.

Bond prices fell sharply following speeches by the two Fed presidents; the yield on the benchmark 10-year Treasury note rose to 4.78 percent from 4.73 percent late Thursday. The dollar was mixed against other major currencies, while gold prices rose.

Harlosh: Er, where did you see the 400 pip move? I've looked on two different Reuters feeds and I can't see that movement. All I can see is Cable wafting in the breeze around 1.9500.

Choccie: Of course you're an ectomorph. Lean and delicate, that's you ;-)

Hilary is very busy doing other stuff right now, I understand, although I'm assured that she's looking in to make sure that everyone is behaving.

Harlosh
I was assuming that it was an IGIndex error not an actual increase. Lots of happy longers if it isn't an error - wish I'd left mine open :)

i would not want to bet that IG's indication is wrong, albeit that that is a pretty dramatic swing ...... if it is indeed correct, just slightly cross with myself that i did not short at +/-19480, but was too busy travelling to pay proper attention ..... to my mind, $ is almost certain to continue to weaken over the coming months

I saw a 198xx figure for cable late last night on CMC. Only popped in to check a UKX short, so it didn't really register until I saw the comments on here this morning.

just checked and it's still quoting 1.9824/27

Hmmm.

This morning Reuters are showing 1.9499/502. No observable blips.

I just don't belive a 400 pip 'blip' -- so I think it must be an anomoly on the FX feed used by some of the Spreadbetters. I have seen some fairly odd things on raw feeds in my time . . .

monday morning will reveal all!

I first picked it up on ITV news at 10.30 last night MM which made me look on my charts and CMC both of which show it so it looks as though it may have fooled them too.

Nice to see IG show a high of 1.9941 too :)
My charts and platform are boringly within a few points of each other around 1.95 ;)
The girlie at CMC said they'd had a few calls since last night! You'd have thought a dealer should have been around this morning to offer an explanation. All she could say was that it looked a bit suspicious.

Afternoon.

No news on the Miss Mel job front as yet. I'm telling her that if they were
going to blow her out, then she would have had the Dear John by now, and
that they're still trying to figure out the best place for her. Hope I'm right.

On a brighter note, the professor who taught her at Uni has just contacted
her and told her that the work she did on neurology is going to be included
in a paper that he is publishing and that she will get accredited with her
name in print.
If this Investment bank blows her out, it's their loss, and I've told her so.
It's just a matter of time until she's doing what she wants to do, imho.

Put below a few charts and comments. Still feeling very rough, so not doing
very much at the moment. Just a couple of small profit trades to keep ticking
over. Enjoying watching your actions with your reasoning behind them.

Refreshing as ever, thanks Mels :)

Just had a quick look at IG - dunno what they're on, but I'm sure we'd all like some of it. They're now showing a high of 1.9828 and a low of 1.9824.
Looks like CMC have wiped the egg off their face though ;)

IG error is now corrected ..... 19481 / 19484 .... at which rates one can currently deal.

GOLD well worth watching ... now 666.20 / 666.70 .... closed out my earlier long postion, but of course now wish i hadn't

Yep, all back to normal this morning.

Got your shorts on choccie - could be heading for 19380ish support - possible pause around 19440ish .... but I reckon the bears are on it at the moment.

Managed 50 this morning so time to go back to bed - Goldilocks is calling :)

Porridge all finished and I had a long trigger spot on 440 - happy to leave it for a while - moved my stop up to entry so a nil loss position. Got another short to open at 500 to close out the long and reverse - we'll see. I don't actually think it'll get back up there in the short term - but there you go.

Keeping the shorts on meggers - it's a nice day for it ;)

Decided to fold for 25 points - happy with those in a falling market

Nice one biiig bear ;)