Forex rebates on every trade - win or lose!

Quiet here this morning. Shame I closed last night, but hey ho. Scratching my head a bit now, although I did wonder last night about a sell off, I certainly wasn't sure. Had also considered the Gold sell off yesterday and whether that would strengthen the $, perhaps it has?

Thinking cap back on :)

pth

Rates too low, Bank deputy says

The Bank is expected to raise rates at its next meeting
UK interest rates are too low and are helping to drive demand for loans and credit, Sir John Gieve, deputy governor of the Bank of England, has said.
Speaking in Guildford, Surrey, Sir John explained why he was one of four rate setters who voted to raise interest rates at the Bank's last meeting.

Analysts are forecasting that the Bank will raise interest rates to 5.75% next week, after holding them in June.

Rates have hit their highest level in six years as inflation has picked up.

'Sharper slowdown'

Some analysts predict that interest rates will hit 6% by the end of the year. One of the main forces behind price growth has been the low cost of loans and debt, which has helped to finance spending by consumers and companies.

"I voted for a further increase earlier this month partly because I was not convinced that current rates would be sufficient to bring credit growth and nominal demand back to their long-term sustainable path," Sir John said.

"I also felt that the impact of moving too slowly on the credibility of the regime and thus the future prospects for the economy was of greater concern, given the robust rate of growth, than an unnecessary slowdown in activity," he added.

Sir John noted that there was a risk that "we may increase interest rates too fast or push them up too far, with an unnecessary loss of growth".

However, he also warned that "we may raise rates too slowly with a cost in higher inflation and potentially higher interest rates and a sharper slowdown in the end".

The yen is now banging down towards 122 after a big move overnight. My partner has 120 as the target although he stil feels yen is way under valued against the dollar.

yen has moved a lot in last 48 hours...might not be a straight line but agree will probably get there

that dollar looking a bit sick....

Cable...anyone for 2:01?


Hils is your FXtrek still ok...mine not working last couple of days

Where have all the Forex traders gone...

Dunno foale, so few posts, so stopped posting myself :S
+60 off GBP/YEN from yesterday, apart from that haven't done very much.

nice one pt...took similar myself

It's a little quiet, but we get spells of that here. Also, Chocolat is hors de combat at the moment. Get well soon, Choccie, your public needs you :)

"STERLING/DOLLAR: The pound doing better than some currencies but lagging this week's stars: the rand and the Canadian dollar. Implied volatility below 5.00 percent is among the lowest of the last decade.

Cable is not too overbought and momentum has turned bullish. All and any dips are seen as buying opportunities for a subsequent squeeze to $2.0064/75 late this week/early next week."

- Nicole Elliott, Mizuho Corporate Bank

D,

Yes my Intellichart is fine, but it was playing up earlier this week. It seemed to be locked on fiber.

Just closed a cheeky little long on Cable for +22 (double contract) so actually worth +44 :)

A little long on cable @ 50 to run into next week.

Closed + 36 a few minutes ago :-))

GBP / Yen might be interesting today...given where Cable and dlr/Yen is today..

well that was nice a 100 basis points fall since my last post.

I've removed last week's calendar from the header, but I've got PC problems which are preventing me from being able to sort out this week's calendar. I hope to have it resolved in the next day or so.

As the content-producing half of the FX IT department has an equipment problem, it was left to the hosting techie to produce the content. So I've done my best, stop complaining and put your reading glasses on.

I feel a business opportunity here....

Of course.

We are proud to announce the availability of a true technologocal marvel! Dr Clearly's Patent Forex Spectacles with added Event Prediction(TM).

Never more be wrong-footed on a nifty little Jappy short, you can KNOW when the carry trade is going to sell off. Never again let 'Helicopter Ben' Bernanke catch you on the downside of a Cable long when he mutters into his beard about maybe when he might think about possibly acknowledging the possibility that he's got a bijou crisisette on his hands and he might possibly soon just maybe nudge the FOMC into raising rates by as much as a staggering 25 basis points. Don't ever concern yourself again with the possibility that you'll ever hear a BBC business reporter say anything other than " . . which means that the Euro is worth 67 pence and null points".

The future in currency trading is now yours. You too will be able to read the runes, the stars and the Forex thread Economic Data Release Calendar with Dr Clearly's miraculous optical enhancement equipment.

Yours for only GBP 1,473 + VAT (is that enough, Seymour?) including postage and packing. All major credit cards accepted.