We've just had - IMO - two very important News Events that MAY have a big influence on many currencies in the days to come, so I thought I'd open a thread to get a few opinions.
These News Events were: The first failure of a UK Gilt (bond) Auction in more than 10 years. This means that the UK Government were unable to Sell all of the gilts that they had on offer.....now remeber that they have LOADS of these to sell as PM Brown and gang are borrowing the UK into the ground and need truck loads of new money to keep them popular / in power etc - they call it something else, but lets get real......http://www.forexfactory.com/images/icons/icon12.gif
2009.03.25 10:57:08 MARKET TALK: Sterling Drops On Poor Gilt Auction
Anyone taking a long term short in cable and assosciated pairs? mmm, read on.....
The second News Shock happened a couple of minutes before the better than expected US Home Sales data, when Mr Geithner - he's some big wig in the US govnment - said that he didnt mind a new currency to replace the Dollar........OMG........the Amero raises its head - again.....or will it be a Chinero??
2009.03.25 13:57:16 *Dollar Drops After Geithner Says Open To SDR Currency
NEW YORK (Dow Jones)--The dollar declined to session lows against the euro and yen after U.S. Treasury Secretary Timothy Geithner said he was open to considering a new global reserve currency.
That's what caused the 160 pip spike in Euro / Cable / Swissy etc
So we have cable that's had a kick in the you know whats and the dollar now about to be moved into the Old Folks Home aka Chapel of Rest........
Now this is what I call an eventful day - those FunnyMentals really have had their cage rattled - big time......
Toodle Pip
Islander
PS I also trade in Dubloons......http://www.forexfactory.com/images/icons/icon10.gif
These News Events were: The first failure of a UK Gilt (bond) Auction in more than 10 years. This means that the UK Government were unable to Sell all of the gilts that they had on offer.....now remeber that they have LOADS of these to sell as PM Brown and gang are borrowing the UK into the ground and need truck loads of new money to keep them popular / in power etc - they call it something else, but lets get real......http://www.forexfactory.com/images/icons/icon12.gif
2009.03.25 10:57:08 MARKET TALK: Sterling Drops On Poor Gilt Auction
Anyone taking a long term short in cable and assosciated pairs? mmm, read on.....
The second News Shock happened a couple of minutes before the better than expected US Home Sales data, when Mr Geithner - he's some big wig in the US govnment - said that he didnt mind a new currency to replace the Dollar........OMG........the Amero raises its head - again.....or will it be a Chinero??
2009.03.25 13:57:16 *Dollar Drops After Geithner Says Open To SDR Currency
NEW YORK (Dow Jones)--The dollar declined to session lows against the euro and yen after U.S. Treasury Secretary Timothy Geithner said he was open to considering a new global reserve currency.
That's what caused the 160 pip spike in Euro / Cable / Swissy etc
So we have cable that's had a kick in the you know whats and the dollar now about to be moved into the Old Folks Home aka Chapel of Rest........
Now this is what I call an eventful day - those FunnyMentals really have had their cage rattled - big time......
Toodle Pip
Islander
PS I also trade in Dubloons......http://www.forexfactory.com/images/icons/icon10.gif
Trading Levels with WRBs