Forex rebates on every trade - win or lose!

in on the spike

Zooming in, there are some clearer signs imo this morning that we may be on the turn.

I did read an article the other day suggesting that the Fed would be forced into increasing rates against expectations. That could easily prove to be the "news catalyst" to drive the Dollar going into the summer quarter.



Btw, MM, my old email account was closed a few hours after I posted 7850 the other day. You can now contact me by using the same username@sky.com.

Today's US jobs data released at 1:30 BST, is expected to reveal that 115,000 net new jobs have been added in April after adding 180,000 jobs in March. The unemployment rate is seen rising slightly to 4.5%, up a tick from 4.4%.

Well that was rubbish :)
Plan B then.

c - not as many lines as normal!

Normal, gofe? ;)

for what it is worth (little to less than nothing) we shall be looking (hoping) for $ to strengthen to about 19700 before falling away again, ultimately to 207000, though this latter target could take 6 or evben 12 months to reach

Thanks to the co-operative technological effort rendered possible by the interweb thingie, the Economic Data Release Calendar has been updated by Hil + self.

Well thanks Hil Self.
After The Quantity Theory of Insanity, I've come to the conclusion that too much thinking clouds my thinking.
And I've only got one proposition - 81.92 ($ Index) and 1.3542 (Euro) for a turn.
Or is that two?

LONDON (Thomson Financial) - The dollar managed to gain more ground this afternoon, particularly against the euro, during a quiet day of trading.

Overall, the dollar strength is seen to be driven by investors covering short positions in the dollar and long positions in the euro amassed in recent weeks and ahead of central bank meetings this week.

Although the Federal Reserve is widely expected to keep interest rates unchanged tomorrow, any change in the wording of its statement may move the dollar.

'The key for markets should be the tenor of the accompanying statement and whether the Fed keeps its tightening bias intact -- especially in the wake of the softer than expected April payrolls and March PCE core deflator,' said David Brown at Bear Stearns.

Because of this, analysts expect the dollar to come under renewed pressure, while the euro should remain buoyed by the fact that the European Central Bank is widely expected to signal this week that it will raise rates next month, and possibly again later this year.

Euro zone data has remained strong and suggests that the European economy has so far weathered the strong currency and managed to 'de-couple' somewhat from the weakening US economy.

This was evident again in German industrial output data this morning, which showed a smaller-than-expected decrease in March, whereas manufacturing output rose.

'Output is likely to have supported overall Q1 GDP,' said Stuart Bennett at Calyon. 'Further, with yesterday's release of March factory orders surprising to the upside, strong demand indicates that output remain firm in Q2.'

Elsewhere, the pound had a mixed day, with a lack of economic data leaving investors to consider tomorrow's retail sales and the rate decision on Thursday.

Retail sales as published by the British Retail Consortium tomorrow are expected to be robust, with total sales up 6.4 pct in April. The Bank of England, meanwhile, is widely expected to hike rates on Thursday, with the outside chance of a 50 basis point move expected to keep the pound supported.

FOMC statement

Consumer confidence ahead of MPC thingie

Cable really hammering that support this am....1.9765-75 area...will it hold?

Secondary support is around 1.9724 according to the UBS analysts . . .

Do you need me to mail you a JPEG, Delboy?

Got it, thanks Hil. Hosted and posted.

Very nice thank you :)

Think I need bigger specs ;)

Got me bins out the wardrobe ;)

Yep, there's lotsa data this time. Enjoy!