Cable Update (GBPUSD)

Depends on the Euro at this point.

thats what deutsch bank says...lets read a little...

Let me get this straight...

GB no hike, price drops 20.

EU hike, price drops 20 and GU drops another 20...

I promisse... One day I'll figure this s*** out...

LOL.

Went long at 236 fib. 9295

price broke 1.9300 level until 1.9278.waiting for reversal entry

Yeah, I'd like to know how does it feel to be a guy like Trichet, Greenspan, Bernanke.

You say "Hello" -> 2 pips up
You smile ->1 pip down
You start with "today we..." -> 5 pips up
Your cell phone rings -> 2 pips down
It is you wife -> 3 pips up..

on and on and on...

Sorry I'm bored..

does anyone know when this craziness with crappy news and market not following them will end? i'm kinda sick of all these...
will stay away for some time, i can't get a clear picture.

This is Bull...t! Games, fiddle the figures and more games!

HaHa, thats what they do to keep us all from getting rich!!!!

Bullshit Summary

Following the earlier 25bp rate hike, [ECB PRESIDENT TRICHET] said that monetary policy is still accomodative, with liquidity ample and that the decision to hike rates was taken with view of maintaining price stability in the medium term. Trichet remained bullish on growth quoting surveys and the high-frequency data as pointing to further robust economic activity. He said that lower oil prices are helping growth and that the export sector is also aiding activity, with domestic demand expected to remain vigorous. He said he expects consumption to strengthen over time as incomes and employment improve. He said that the ECB staff f/c for growth this year at between 2.1% to 2.9% and 1.9% and 2.9% for next year, both revised upward from the last f/c round. He said that the risks are balanced. On inflation, he said that CPI is likely to fall in the spring and summer and then rise later on. This is based on oil price exps.

Bullshit Summary - Part II

[EUR/USD] higher in response to Trichet's reference to rates still being on the accommodative side, those looking for a pause in the ECB's tightening cycle paring risks, with bunds sharply lower. Ongoing protection of a 1.3200 barrier implies that the upside will be hard fought though, but clearly the news is boosting the Euro on cross plays with Eur/Yen setting fresh session highs at 154.30. Eur/Gbp's uptrend has also been refreshed, the on hold BOE prompting expectations for a near term test of 0.6850.

Bullshit Summary - Part III - Trichet Lives...

[ECB TRICHET] said that there are upside risks to growth stemming from possibly higher oil prices, higher administered prices and the possibility of higher wage growth. The new ECB staff f/c for inflation are 1.5% to 2.1% this year, down slightly from the last set of f/cs, and 1.4% and 2.6% next year, which is slightly higher than previously suggested. Trichet said that money supply remains vigorous. He said the the persistent upward trend in the underlying monetary expansion seen so far continued in Jan. He said that the strong money supply data are a reflection of the accomodative monetary policy and the strong growth dynamics in the economy. Concluding on inflation, he said that one must look beyond short term volatility in CPI and that risks to price stability are still on the upside. Basically, tightening bias remains.

i know why all this is happening. because i decided to start real trading with a big sum... i'm sure as soon as i back off, it'll all come to normal the VERY NEXT MINUTE or so... but i won't, so this madness will continue indefinitely or until all my money are gone.

And last but not least...
The fallout from Trichet's comments has seen Usd/Europe push higher, [USD/CHF] in particular pushing through good offer interest at 1.2250 on the back of macro fund bidding. Next offers are expected around 1.2270, then in more size at 1.2300. The Chf is also maintaining a soft profile on the back of more equity gains, Eur/Chf lifting through stops above 1.6085 on the back of bidding by a pair of German banks. Next offers are expected around 1.6100, with the 38.2% retracement of the recent losses at 1.6110 also likely to feature a mix of offers and stops. As the market returns to the yield theme the upside is likely to remain the focus, though equity market developments will be influential. There are also reports Gbp/Chf has been bid repeatedly during the day, though no names are given. Offers are in place around 2.3680, with the 2.3800 level marking a retracement target also likely to feature bids and stops.

Okey... GB no-hike + EU hike = Dollar up...

Is Einstein in the room?

haha I said the very same thing. After the two biggies tomorrow I think the market will cool down a bit.

nope... it will continue the same. i still have money for the next week, so it'll probably take a week and a day more.

it's just speculation... this thing must go up...

BOE no hike was already 75% priced into the market. The other 25% will be shaken out soon.

Choppy market time...

All that bunch of crap and no important level even tested... day's range 70-80 pips, for a rate statement ?

Gonna find a funeral here to cheer me up a notch...

Be back later...