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Cable Update (GBPUSD)

  • #78,861
  • Jul 30, 2008 9:01am Jul 30, 2008 9:01am
Update: Centrica UK Energy Hikes Could Boost CPI To 5% By Sept Jul 30 / 09:59


LONDON (MNI) - Centrica has hiked its household gas tariffs by 35%
effective immediately in a move that will boost UK inflation.

The move had been expected but was well ahead of the +20 to +25%
range pencilled in by analysts. The move is likely to further boost UK
inflation in coming months, although the increase comes too late to
impact on the July Consumer Price Index, which is due to be released in
2 weeks time.

The move is likely to lead to an earlier-than-expected peak in UK
inflation and push CPI to around 5% as early as September. It will also
push UK CPI well above 4% in the August Inflation report.

Centrica - which owns British Gas - also hiked its electricity
prices by 9%.
Trading is 80% Emotional, 20% Technical
  • #78,862
  • Jul 30, 2008 9:01am Jul 30, 2008 9:01am
Quoting fx local
Update: Centrica UK Energy Hikes Could Boost CPI To 5% By Sept Jul 30 / 09:59


LONDON (MNI) - Centrica has hiked its household gas tariffs by 35%
effective immediately in a move that will boost UK inflation.

The move had been expected but was well ahead of the +20 to +25%
range pencilled in by analysts. The move is likely to further boost UK
inflation in coming months, although the increase comes too late to
impact on the July Consumer Price Index, which is due to be released in
2 weeks time.

The move is likely to lead to an earlier-than-expected peak in UK
inflation and push CPI to around 5% as early as September. It will also
push UK CPI well above 4% in the August Inflation report.

Centrica - which owns British Gas - also hiked its electricity
prices by 9%.
hence the small bounce in cable off lows
Trading is 80% Emotional, 20% Technical
  • #78,863
  • Jul 30, 2008 9:03am Jul 30, 2008 9:03am
close short for 45 and reverse
went long at 65 MP held
  • #78,864
  • Jul 30, 2008 9:06am Jul 30, 2008 9:06am
Quoting abdon
Still hope cable will go up...

Btw. I had to close red position after having 24 winning positions in a row :/
Looks like cable goes up ... is it a hammer in 1hr TF ?

are u still long, optimum ?
  • #78,865
  • Edited 9:28am Jul 30, 2008 9:18am | Edited 9:28am
Quoting pinopips
Looks like cable goes up ... is it a hammer in 1hr TF ?

are u still long, optimum ?
short 1,9831 closed 1,9750 +81pip
long 1,9750 t/p : 1,9790 or 1,9800 <---> closed 1,9770 +20pip
  • #78,866
  • Jul 30, 2008 9:33am Jul 30, 2008 9:33am
Quoting gammase1
Gold does not drive the dollar, it is the other way around. Gold depreciates in times of dollar stength and low risk aversion.
I beg to differ. In March South Africa cut electricity to all mines. Gold production dropped drastically and threat of long term gold production cuts. Gold rallied to over $1050 GBP shot up to 2.0388 so who is driving who? After SA sorted out its electricity problems Gold dropped and dollar strengthen!?
  • #78,867
  • Jul 30, 2008 9:40am Jul 30, 2008 9:40am
Quoting fx local
hence the small bounce in cable off lows
bro which website did u get that info from?.the centrica stuff
  • #78,868
  • Jul 30, 2008 9:42am Jul 30, 2008 9:42am
long? now?
  • #78,869
  • Jul 30, 2008 9:45am Jul 30, 2008 9:45am
Quoting nAVIN2007
bro which website did u get that info from?.the centrica stuff
got it off news subscription that i have Market News, they provide on the sec headlines, stuff like centrica and economic releases etc, expensive service thou
Trading is 80% Emotional, 20% Technical
  • #78,870
  • Jul 30, 2008 9:49am Jul 30, 2008 9:49am
Quoting fx local
got it off news subscription that i have Market News, they provide on the sec headlines, stuff like centrica and economic releases etc, expensive service thou

35% increase is taking the biscut
  • #78,871
  • Jul 30, 2008 9:56am Jul 30, 2008 9:56am
Down / Up ?
  • #78,872
  • Jul 30, 2008 10:05am Jul 30, 2008 10:05am
Quoting nAVIN2007
35% increase is taking the biscut
Gas went up a similar amount in 2006/7 winter as I remember

in 1994 I was spending £400 per qtr on gas and that was a lot then

people with old stone houses must be into GBP1k per qtr ?

Easier to be Michael Jackson and get a few scouts in the bed to keep warm - much cheaper

They say that math teaching in the US is not too good - but he knows that two eights make a 16
  • #78,873
  • Jul 30, 2008 10:13am Jul 30, 2008 10:13am
Quoting Runway Trade
I beg to differ. In March South Africa cut electricity to all mines. Gold production dropped drastically and threat of long term gold production cuts. Gold rallied to over $1050 GBP shot up to 2.0388 so who is driving who? After SA sorted out its electricity problems Gold dropped and dollar strengthen!?
I disagree. You may remember in March there was the small matter of the Bear Stearns rescue on March 17th. In the weeks leading up to this rescue, the market was plagued with rumours of the demise of Bear Stearns (when interbank players started to refuse them as a counterparty and hedge funds took their business elsewhere) and the potential collapse of the US banking system.

The Fed then increased their liquidity scheme to cover broker dealers and engineered the forced sale of Bear Stearns to JP Morgan. After this point, a degree of calmness returned to the markets, credit spread narrowed, financial stocks and equities rallied AND the dollar appreciated, as investors believed that a meltdown of the financial system had been averted.

This has far, far more to do with cable spiking than electricity problems in SA.
  • #78,874
  • Jul 30, 2008 10:18am Jul 30, 2008 10:18am
Adding longs to 1.9900 at this point with stops below the figure. Correlating nicely with Euro.
  • #78,875
  • Jul 30, 2008 10:24am Jul 30, 2008 10:24am
slow day today eh - just rolled out of bed and looking at the daily charts again

This is either the bottom of the daily channel and a HUGE long opportunity or a set up for a false 50 point hike max in the hourly, before a plunge into the entrails of the earth where Dick Cheney was born

Either way it has a long bias I reckon, but I am inclined towards the bowel theory which is very unchartist of me because I should not call a break in the daily until it happens
  • #78,876
  • Jul 30, 2008 10:45am Jul 30, 2008 10:45am
Quoting allserene
slow day today eh - just rolled out of bed and looking at the daily charts again

This is either the bottom of the daily channel and a HUGE long opportunity or a set up for a false 50 point hike max in the hourly, before a plunge into the entrails of the earth where Dick Cheney was born

Either way it has a long bias I reckon, but I am inclined towards the bowel theory which is very unchartist of me because I should not call a break in the daily until it happens

Why so quiet all of a sudden ya'll ... Im thinking a false spike due to OIL Inventories ...

Added more shorts at 9810 TP 9600 :-)
  • #78,877
  • Jul 30, 2008 10:48am Jul 30, 2008 10:48am
Quoting poweredbuyer
Why so quiet all of a sudden ya'll ... Im thinking a false spike due to OIL Inventories ...

Added more shorts at 9810 TP 9600 :-)
I don't see 1.9600 being hit. Good luck!
Just digging in the trenches like everyone else!
  • #78,878
  • Jul 30, 2008 10:52am Jul 30, 2008 10:52am
Quoting eohater
I don't see 1.9600 being hit. Good luck!


You Long now or short dude?
  • #78,879
  • Jul 30, 2008 10:54am Jul 30, 2008 10:54am
Quoting poweredbuyer
You Long now or short dude?
Neither, I was long at 1.9750 and closed out at 1.9800. Waiting to reenter.
Just digging in the trenches like everyone else!
  • #78,880
  • Jul 30, 2008 11:03am Jul 30, 2008 11:03am
it could go up or down ..this is a fundy week.....it might not happen this week we sink might be next month..this is what im thinking...

might be heading up a bit ...i looking to sell at 1.9950 if we can reach it..
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