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Cable Update (GBPUSD)

  • #31,761
  • Sep 19, 2007 6:35pm Sep 19, 2007 6:35pm
Quoting cesarnc
Talks of large options barrier at 1.4. When those talks pop, the figure is traded. The buying pressure in euro today says so. To crack that figure, we need a trigger. We have Bernanke's mouth. Should be enough.

He is not crazy to go inflation-hawk tomorrow right after a 0.5 cut. Is he? Would he? Will he? My money depending on him?.... I want my mamma....


I love this kind of sh**.. LOLLL
The report did mention inflation yesterday didn't it ????
For he that would be deceived, let him.
  • #31,762
  • Sep 19, 2007 6:36pm Sep 19, 2007 6:36pm
Who knows in these markets eh? I trade mostly technically and don't pay an awful lot of attention to fundies unless it's one of the "big impact" ones.
  • #31,763
  • Sep 19, 2007 6:37pm Sep 19, 2007 6:37pm
Quoting pinchapip
The report did mention inflation yesterday didn't it ????
"Readings on core inflation have improved modestly this year. However, the Committee judges that some inflation risks remain, and it will continue to monitor inflation developments carefully. "

Quote
Who knows in these markets eh? I trade mostly technically and don't pay an awful lot of attention to fundies unless it's one of the "big impact" ones.

Bernanke with Paulson were asked to talk about the housing problem + details on those "plans" to bail out borrowers (not lenders) as of Bernanke's and Bush's speech like 2 or 3 Fridays back.

Goes to "big impact" basket here...
  • #31,764
  • Sep 19, 2007 6:41pm Sep 19, 2007 6:41pm
Quoting cesarnc
"Readings on core inflation have improved modestly this year. However, the Committee judges that some inflation risks remain, and it will continue to monitor inflation developments carefully. "



Bernanke with Paulson were asked to talk about the housing problem + details on those "plans" to bail out borrowers (not lenders) as of Bernanke's and Bush's speech like 2 or 3 Fridays back.

Goes to "big impact" basket here...
See....we had a hawkish interest cut..life is full of paradox !!!!!!!!!!!!
For he that would be deceived, let him.
  • #31,765
  • Sep 19, 2007 6:44pm Sep 19, 2007 6:44pm
Thanks everyone for chiming in on the 'spike'.

Since it's not just IBFX, my best guess is that it got to a certain point and triggered bunch of stops - I watched it happen - candle opened at 2.0015, dropped a bit, then bam, drop to 1.9978, then back up and closed at 2.0007; next minute's candle opened at 2.0007, closed at 2.0014, where it stayed for the next few minutes (all bid prices, as quoted by IBFX - well at least on my feed).

Crazy couple of days, eh?
I wish it was like that all the time!
(well, as long as we were all on the right side of the trade )
Cable is my sugardaddy
  • #31,766
  • Sep 19, 2007 6:45pm Sep 19, 2007 6:45pm
Quoting pinchapip
meanwhile...at a conspiracy theory site !!!!


The Fed's decision to cut interest rates again is likely to send the dollar tumbling to historic new lows, leading one financial analyst to predict that China's fury at the devaluation of its huge dollar reserves will provoke them into giving the U.S. government a terse ultimatum - let us invade Taiwan unopposed or we'll dump the dollar and bring about economic chaos.

China holds $1.3 trillion of dollar denominated assets and leading Communist Party officials have repeatedly threatened to use what the London Telegraph referred to as "the nuclear option," the liquidation of US treasuries if Washington imposes trade sanctions to force a yuan revaluation, the result of which would be an almost certain and immediate collapse of the dollar................



http://www.prisonplanet.com/articles...ump_dollar.htm
Think. If you hold $1.3trilllion. What is your interest? The last thing you want is a complete meltdown of the US dollar.Right? So there is the problem. China will not anything to deterirate the value of the dollar.. In my opinion.
.
  • #31,767
  • Sep 19, 2007 6:47pm Sep 19, 2007 6:47pm
Quoting cesarnc
And they got not a single centrifuge



Thanks for the info... Everytime dollar is dumped, this China Affair pops again. One day they will drop the bomb? To be continued.....
Hi cesarnc,

That doesn't seem possible. They are still mainly a exports oriented country and still do depend on the US on trade to keep prop up their double digit expanding GDP. China dumping the USD is like taking a bomb to kill someone 2 feet away.

Anyway, if the argument is they can survive on other countries. What do you think the world will be like if ALL the countries know what China did.. I'd call for a worldwide boycott of Made In China.
  • #31,768
  • Sep 19, 2007 6:47pm Sep 19, 2007 6:47pm
Quoting bullrock
Think. If you hold $1.3trilllion. What is your interest? The last thing you want is a complete meltdown of the US dollar.Right? So there is the problem. China will not anything to deterirate the value of the dollar.. In my opinion.
lol... no... the dollar gets meltdown after they get rid of it. When the price of the dollar gets ridiculous, they already have another currencys.
  • #31,769
  • Sep 19, 2007 6:49pm Sep 19, 2007 6:49pm
Quoting bullrock
Think. If you hold $1.3trilllion. What is your interest? The last thing you want is a complete meltdown of the US dollar.Right? So there is the problem. China will not anything to deterirate the value of the dollar.. In my opinion.
Morning bullrock,

do you sleep much? lol...
  • #31,770
  • Sep 19, 2007 6:52pm Sep 19, 2007 6:52pm
Hey guys since I'm still a newbie here can somebody with more screen time enlighten me on where people like Monarch and Goodthings went ?!?!

More recently what about Bravado, Camisa...and that guy that use to have a Spiderman avatar ???
For he that would be deceived, let him.
  • #31,771
  • Sep 19, 2007 6:52pm Sep 19, 2007 6:52pm
Quoting Warper
lol... no... the dollar gets meltdown after they get rid of it. When the price of the dollar gets ridiculous, they already have another currencys.
Yes but everyone forgets that US has the largest inventory of GOLD. Thats always a good insurance policy to take out. dump gold and prop back up.

China losses billions of dollars from FX Exchange while pushing the dollar down...
  • #31,772
  • Edited 7:17pm Sep 19, 2007 6:57pm | Edited 7:17pm
Quoting pinchapip
Hey guys since I'm still a newbie here can somebody with more screen time enlighten me on where people like Monarch and Goodthings went ?!?!

More recently what about Bravado, Camisa...and that guy that use to have a Spiderman avatar ???
I don't know. They may be on vacation or they may know that cable is sideways and hard to be unpredicted lately.
I think that Monarch trades more GBP/JPY.
-----
NZD/USD may up trend.
  • #31,773
  • Sep 19, 2007 7:09pm Sep 19, 2007 7:09pm
I'm off now for São Paulo x Boca Juniors "derecho de la Bombonera"... An evening to kick some Argentinean a**es

Cya all tomora by London

http://www.spfc.net/imagens/Wallpaper_-_SPFC.net_1.jpg
  • #31,774
  • Sep 19, 2007 7:12pm Sep 19, 2007 7:12pm
Quoting cesarnc
I'm off now for São Paulo x Boca Juniors "derecho de la Bombonera"... An evening to kick some Argentinean a**es

Cya all tomora by London
Enjoy
  • #31,775
  • Sep 19, 2007 7:25pm Sep 19, 2007 7:25pm
Quoting cesarnc
I'm off now for São Paulo x Boca Juniors "derecho de la Bombonera"... An evening to kick some Argentinean a**es

Cya all tomora by London

http://www.spfc.net/imagens/Wallpaper_-_SPFC.net_1.jpg
Against "los hermanos" even a "Corintiano" like me will wish you the best !!!!! Enjoy !!!!!
For he that would be deceived, let him.
  • #31,776
  • Sep 19, 2007 8:02pm Sep 19, 2007 8:02pm
I believe fundamentals will start to make more sense from now on, in that good news for the dollar will make it go up...hehhehehe its been a while since we haven't seen that happening right?!?!
For he that would be deceived, let him.
  • #31,777
  • Sep 19, 2007 8:09pm Sep 19, 2007 8:09pm
The Chinese holding 2tril US dollars is in a predicament we Americans call a catch-22. It devalues everyday but getting rid of it will devalue it even quicker.

Confucius say: Who let this happen. Doh!!
  • #31,778
  • Sep 19, 2007 9:07pm Sep 19, 2007 9:07pm
Quote
The Chinese holding 2tril US dollars is in a predicament we Americans call a catch-22. It devalues everyday but getting rid of it will devalue it even quicker.

Confucius say: Who let this happen. Doh!!

I have no idea what you guys are talking about, NO MAJOR COUNTRY in this world now keeps all(100%) of its foreign reserves in USD, they do count in USD though. The diversification process started over an year back.
Hello World!
  • #31,779
  • Sep 19, 2007 9:51pm Sep 19, 2007 9:51pm
Quoting ClockTrader
I have no idea what you guys are talking about, NO MAJOR COUNTRY in this world now keeps all(100%) of its foreign reserves in USD, they do count in USD though. The diversification process started over an year back.

How do countries choose what currency to keep their reserves in?

Well, foreign currency reserves are kept to give countries a way to stabilize their own currencies, intervening in the forex markets if necessary to dampen short-term swings in the value of their currencies. So logically you want to have that currency in hand, against which it would be most dangerous for your currency to swing against. What currency is that? Well, the currency in which most of your trade, loans, or debts are denominated. So the denomination of trade is important after all.

Who is Chinas biggest trade partner? Which currency they use ?
For he that would be deceived, let him.
  • #31,780
  • Sep 19, 2007 10:14pm Sep 19, 2007 10:14pm
Quote
How do countries choose what currency to keep their reserves in?
Thing of past, not anymore, major chunk of past reserves still in USD, but been under diversification, major part of new reserves go into other emerging currencies like euro however every such reserve is counted in USD. Just counting in USD doesn't mean reserves are in USD.

Quote
Well, foreign currency reserves are kept to give countries a way to stabilize their own currencies, intervening in the forex markets if necessary to dampen short-term swings in the value of their currencies. So logically you want to have that currency in hand, against which it would be most dangerous for your currency to swing against.
SECURITY n SAFETY, thats what I'm trying to explain, not even the Govts but even a common man today knows the currency to keep his bank balance in. Can you tell me how much EURO has appreciated against USD in the past 12 months ? or 24 months ? or 36 ? and so on ? Even a kid will tell you the currency to keep your reserves in. Everybody wants his reserves to grow with the passage of time and not the other way. If it can't grow nobody wants to see them depleted.

Quote
What currency is that? Well, the currency in which most of your trade, loans, or debts are denominated. So the denomination of trade is important after all.
Every reserve, trade, loan(transaction) etc. etc. shall keep getting counted in USD for until another few decades or more, I won't argue on this.

Quote
Who is Chinas biggest trade partner? Which currency they use ?
Of course USA and China has been under pressure not to diversify its first Trillion, US has done everything possible, BUT do you have any idea of the Chinese foreign reserves over 1 Trillion ? About an year back, Singapore setup a fully dedicated agency/deptt to handle and diversify foreign reserves on the lines of HK and China, primarily to safely and carefully diversify US reserves. This has been happening in every country.

I am from Asia(India) I read everyday in newspaper whats happening here, I'm not speaking just out of air, but on the basis of news. I don't trade economic events though.

People and companies here have actually started to keep their reserves in local currency / euro etc. switching from USD long way back.
Hello World!
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