Forex rebates on every trade - win or lose!

Indeed, choccie. It's a worry. He's got even more sawdust between his ears than Bliar.

Sawdust or not, at least there's little sign of Euro-enthusiasm from Brown either.

In yesterday's FT, Wolfgang Munchau wrote that the lack of a political union is what threatens the Euro. In fact, he claims that the new constitution will be ineffective and lack the authority to enforce economic policy. So the Euro might fall apart, he says.

Well there we have it from a German then - there'll be a queue for the Berliners' new currency next.. ;)

oops wrong window!

chocolat...you mean Prime Minister Brown...by then
dont like him...but it will happen

House prices in Wales fell 8%...last MONTH...

No point in wasting emotion on any of 'em, foale..

Anyone been here?

http://www.euabc.com/index.phtml?action=set_country&country_id=28&word_id=220

Greenspan certainly jerking the pound up at the moment!

The mind boggles over that comment, hodgins.

:o)

WASHINGTON (AFX) -- The U.S. economy has regained its footing after slipping into a soft patch in June, Fed chief Alan Greenspan said.

'The most recent data suggest that, on the whole, the expansion has regained some traction,' Greenspan said in prepared remarks to the House Budget Committee.

Greenspan said consumer spending rebounded in July and job growth picked up in August.

The positive comments from the Fed chairman on the economic outlook match the expectation of Fed watchers. They said that upbeat comments on the economic outlook would cement expectations of a third consecutive quarter-point rate hike when the FOMC meeting on Sept. 21.

The Fed chief had soothing words on inflation, saying that rising non-oil import prices 'have lessened,' helping to lower core consumer price inflation.

'Despite the rise in oil prices through mid-August, inflation and inflation expectations have eased in recent months,' Greenspan said.

Greenspan said economists disagree about the impact of rising oil prices on the economy.

He said the outlook for oil prices 'remains uncertain' due to a wide range of factors, including potential heavy demand from the rapidly growing economies of China and India.

what just happened to cable ? it dropped from 1.7876 to 1.7846 in 3 minutes, having hovered around 1.7875 for the last hour or more. Was there some news or data ? Not complaining (am short), just can't find the reason.

July Visible Trade Balance at 9:30, Hotei.

No position in Cable ahead of MPC .... I figure it could whipsaw a bit ahead of the news. Instead, I'm currently long EUR/USD and long USD/CHF. They're both going the right way, atm. Weird, huh?

thanks hilary - 10 points a minute - I like that rate (when I'm on the right side of it !)

??? Has everyone given up on Forex - cable?

I have managed to recoup my small loss & am now flat but can't decide next move - any ideas????

You should be long greenback atm imo, Sue. I am.

Sue: Always heed the advice of a *professional* ;-)

Afternoon, Hil :)

long - so you mean buy?

As it is usually quoted /$ you would actually be short but yes you are long the dollar. Euro/$ quoted that way also.

$/Swiss and $/Yen most commonly quoted the other way around so on these instruments your trade would be long.

So effectively you are long or short the first quoted.

Well long would (no position here) have been successful today coming off a couple of hourly support levels which is the timescale that those who really move the market use.
No position here yet but getting back on short looking at 20 day hourly, horizontal support levels ( very much looked at in FX)and from the contrarian trade angle starting to look attractive.
Downward channel continuation supported by probable fundamentals. Much more upside-breakout?-probably unlikely?

Still not short but 1.7950 looking a good area to go short
Not really sure our interest rates are suddenly likely to go up at a faster rate than US!

If it's going up in Asia it should be going up already so went short and try to add tomorrow

I'm not sure that's what hilary meant - she usually means buy /$ so go long ie expect the /$ to rise above the 1.79 its at (at least that's what I think she meant) so $ would be weakening