Forex rebates on every trade - win or lose!

If i showed my legs on here bully would ban me, and you would probably faint..
tks for the afx article, trying to work out if klawitter is just a puppet

I started reading this thread because a) I might get a glimpse of those legs again, and b) equities was boring, and i needed some volatility.

ah well......the best laid plans of mice and men.....

still deuce

Beeble,

Klawitter's comments, loosely translated, probably mean "WestLB will be a buyer at 1.26".

:o)

And not being one to disappoint ........



















































































Bet you thought that if you scrolled down far enough you'd see my legs. Didn't you?

:o)





























































Keep going .............










































No it's too cold. Sorry.













































Oh, go on then. If it keeps you happy.

:o)

you're a tease you are
how about E on one big toe, and $ on t'other
advantage legs

Oh to be a mouse.... sorry, dreaming again, now where were we,
back to deuce

Beeble,

Hope you got out safely on the 08:30 spike down. There's a nice resistance line now connecting the 19:00 high from yesterday with the 2 highs today. I'm hoping to see it sub-1.26 this afternoon.

no, sat on it to 126.95, then figs got me
off to Basingstoke later, so will just watch for now

Dollar giving a pasting today to the maj fx.
Just ventured a short on USD/CAD. -just scalping today for a few points here and there. If unsure best to stand aside as this is more dangerous monster beast than the DOw. before u can say WOW u r dead.

rgds
zarif

That resistance line seems to be coming under a bit of pressure. Looks like we could both be winners today, Beeble.

Strange isn't it - far better figs than they could dream of, pop down a bit, then start the gring back up again. some momentum driving the euro, and .
shame i got stopped out @ 126.39, but there you go.
dont think we'll see 126 today now, hope you're not short.

Covered it earlier as it rallied from the spike down. Long now.

good girl.
do you give lessons ?

You couldn't afford me.

:o)

And up she goes.

:o))

And out. It could get a touch choppy between 1.2720 and 1.2750, imo, as some of the older support and resistance lines converge, plus it's footy tonight.

Usd/Cad short is paying off well at the moment -just locking in profits to see how far i can play it.

reckon the Euro and cable will recover from the lows (blows more like!!!) and then trend up again.

rgds
zarif

Long Euro/$ from 1.2732, but preparing to get out as no direction either way, and knowing my luck it will spike down.

Out for -12. Not had a good day overall - was well in the money at one time on stocks and watched it fly out of my wallet. May look back here a little later before I go bowling.

edit. Back - managed to win at bowls. Wish I could do it when trading. Hope you've not got longs on Euro/$, guys and gals!

I was hoping for some more legs....but all I got was:-



(Taken from "A Hearts and Lipstick Mouse Tracking Site")

;-)

Tut, tut, Doc. You were being nosey.

:o)

EUR/USD falling again this morning.

FOCUS Further euro rise could prompt ECB rate cut; euro selling less likely
null


---- by Christopher Anstey ----



LONDON (AFX) - The European Central Bank will probably have to cut interest rates if it wants to play a role in slowing the euro's rise, as other potential actions are less likely to have an impact, currency strategists and economists said.

As the rising euro starts to impact euro zone growth prospects and corporate profits, the ECB could increasingly consider a rate cut, particularly if the single currency rises above 1.35 usd, several strategists said.

Other actions, such as selling euros in the open market to prop up the dollar, are less likely, as the ECB could not expect to have the support of the US, analysts also said.

'All the jawboning and all the intervention in the world are not worth anything unless fundamental changes -- like a change in interest rates leading to a reversal of yield spreads -- are in the offing,' said Carl Weinberg, chief international economist at High Frequency Economics, explaining why a rate cut would be the most effective tool.

One of the key drivers of the euro's rise over the past several months has been the positive interest rate differential that the euro zone enjoys. Overnight rates in the US are 1.0 pct, while in Europe they are 2.0 pct. Two-year US Treasury notes yield 1.62 pct, against the yield on the two-year German schatz of 2.44 pct.

A rate cut could lessen that differential, and slow the euro's rise. The euro rose about 5 pct in the space of a month, when it hit its latest record high just under 1.29 usd on Tuesday.

Analysts said it could easily go higher, as US interest rates are not likely to rise in the near term -- especially if US job growth remains as muted as the 1,000 increase in non-farm payrolls last month.

Former IMF chief economist Ken Rogoff said in an interview this week with the German magazine WirtschaftsWoche that 'a euro exchange rate of 1.40 dollars is easily imaginable and a rate of 1.50 to 1.60 dollars is possible.'

Robert Lind, chief economist at ABN Amro, said 'we are still some way above a significant trough for the dollar,' noting that back in the 1980s, when the US had the sort of large current account and budget deficit financing needs that it has now, the dollar fell 40 pct.

The dollar's decline has been more muted thus far in the current cycle. The Federal Reserve's index for the dollar's value against a large group of major US trading partners, adjusted for inflation differentials, shows the dollar at its weakest since Nov 1997, but above the levels of the mid-1990s.

One of Europe's problems is that the dollar is not being allowed to depreciate against major Asian currencies, due to currency pegs or persistent dollar buying by Asian central banks. This leaves pressure concentrated on the euro and sterling, analysts say.

Projections of further euro/dollar increases leave traders and investors contemplating what European officials could do to slow the pace of the rise, which is starting to impact euro area economic and corporate data.

A stronger euro makes exports from the 12 euro zone economies more expensive, and imports cheaper. This would crimp the positive contribution to euro area GDP growth from net trade.

The impact is already being seen, according to ABN Amro research, which shows that euro zone export volume growth has been lower than the rate of expansion of export markets over the past year.

This means the euro area is losing global market share, said Robert Lind, chief economist at ABN Amro, in a news conference Monday on the outlook for 2004.

European companies are also feeling the effects of the currency's appreciation.

German software maker SAP said yesterday that the rising euro caused it to lose sales in its fourth quarter. Revenues fell 3 pct in Q4 compared with the same period in 2002. Taking out the effects of the euro's rise, however, sales rose 4 pct year-on-year.

Such developments have prompted European business associations and political leaders to warn about the euro's rise. Some, including German Economy Minister Wolfgang Clement last week, have called outright for the ECB to cut rates.

While not hinting at rate moves, this week the ECB made its strongest statements of concern to date about the euro's surge, with ECB president Jean-Claude Trichet saying Tuesday that European central bankers believe 'excessive volatility and brutal moves were not welcome and not appropriate.'

His remarks were echoed this morning by ECB governing council member and Bank of France governor Christian Noyer, who also said 'we'll remain attentive and vigilant to any currency moves.'

The comments have sparked a correction in the euro, which is fluctuating around 1.27 usd in afternoon London trading -- about 2 US cents cheaper than its record earlier in the week.

Analysts said this so-called 'verbal intervention' marked a new stage of worry by European policy-makers about the growth-depressing effects of the euro's rise.

But history shows this sort of intervention has little long-term impact, Weinberg noted at High Frequency Economics.

Another potential tool is intervening in the market to sell euros, a move some analysts said could come if European markets started to fall in response to declining euro zone competitiveness.

'Should we see equity markets being hurt by the dollar depreciation, financial market volatility increasing ... this would probably trigger foreign exchange intervention,' said Lorenzo Codogno, London-based economist at Bank of America.

But other analysts said that such intervention would not be effective unless it were done in concert with the US -- something that is highly unlikely.

'Any intervention (to sell euros and buy dollars) without the support of the US Treasury would probably be seen in the market as simply a reason to speculate against the ECB,' said Michael Klawitter, currency strategist at WestLB, with traders betting that the central bank would be unsuccessful in bucking the market's direction.

'People in the market who are expecting some kind of a joint statement about the dollar will clearly be disappointed,' he also said, as US policy-makers do not appear uneasy with the US currency's decline.

US companies have benefited from the dollar's decline, while US export growth jumped 2.9 pct in November to the highest level in three years. Nike Inc last month said nearly half the rise in its order book is due to dollar depreciation.

This explains why though Europeans indicate concern about foreign exchange moves, US officials have presented a benign picture of them, by stressing that the dollar's value remains above its long-run average, analysts said.

The low probability of coordinated euro selling by international monetary officials brings analysts back to the prospect for a rate cut by the ECB.

Cutting rates would be a 'less risky approach' than intervening to sell euros in the market, as it could be explained as a reaction to slowing prospects for growth in Europe, rather than a specific response to the euro's rise, Klawitter said.

He added that 'certainly the probability of a rate cut is fairly high,' if the euro rose above 1.35 usd. Such a move is 'not unrealistic' in the first half of this year, he said.

Charles Dumas, economist at Lombard Street Research, said he believes the ECB will cut rates if the euro rises to 1.40 usd, adding that the central bank could decide to back the reduction with outright euro selling thereafter.

In any case, analysts said they will closely watch the statements and press briefings around the upcoming G7 finance ministers' and central bank governors' meeting in the US Feb 6-7, for further cues on officials' views on currency developments.