Cable Update (GBPUSD)

Something for the weekend

I am sure the Indians will enjoy this

Hi nAVIN2007,

Thx so much for EXPLANTION

thank u and wellcome

EU close to Greece bail-out deal, officials say

http://newsimg.bbc.co.uk/media/image...08894218-1.jpg Greece has been convulsed by strikes and protests

The EU is poised to reach agreement on a potential multi-billion euro bail-out for Greece after weeks of crisis, senior officials have told the BBC.

They say the rescue package would be available if Greece asked for assistance to finance its huge deficit.

Eurozone ministers are expected to finalise a proposal setting out a range of options as early as Monday.

Greece has not requested help so far. The EU says no deal has been agreed but technical work is continuing.

Greece is struggling to deal with a 300bn euro ($419bn; £259bn) debt.
It needs to raise about 20bn euros ($27bn) on bond markets to refinance debt maturing in April and May.

Its deficit is more than four times higher than eurozone rules allow, and it is trying to reduce it with austerity measures that have provoked public anger. The crisis has also undermined the euro.

German opposition

The BBC's Gavin Hewitt in Brussels says the hope is that the proposed deal will be there as a last resort, and the funding will not actually be needed.

Germany and France would be the main backers, with no contribution from Britain and other non-euro countries, our correspondent adds.

European media reports say options being considered include the provision of loans to Greece and a bond issue guaranteed by eurozone countries.

http://newsimg.bbc.co.uk/media/image...08894775-1.jpg Greece's PM has been trying to drum up support for austerity measures

Officiald are quoted as saying the the aid could amount to 25bn euros.
The deal would have to be constructed to get around rules governing the euro currency which prohibit a bail-out for a country on the brink of insolvency.

And any potential rescue package will be hugely controversial in Germany where there is strong opposition to helping Greece, our correspondent adds.

It would also have to avoid the possibility of a challenge from Germany's supreme court.

On Saturday, European Commission spokesman Jonathan Todd said: "The commission stands ready to act if necessary. Technical work is ongoing and has not yet been concluded. All the rest is speculation."

Greece's austerity measures have sparked protests and nationwide strikes.
European Union rules state that no nation in the euro bloc should have an annual budget deficit which is higher than 3% of its gross domestic product.

Greece has pledged to reduce its deficit from 12.7% to 8.7% during 2010.
Its long-term deficit-cutting plan aims to cut the budget shortfall drastically, to less than 3% by 2012.

Concerns about its giant debts currently make it more expensive for Greece to borrow money compared to most other European nations.


http://newsimg.bbc.co.uk/media/image...bt02_466gr.gif


Link : http://news.bbc.co.uk/2/hi/europe/8565623.stm

Bernanke May Get Help Planning Exit With Fed Board Selections

By Steve Matthews

March 13 (Bloomberg) -- President Barack Obama’s likely nomination of three Federal Reserve governors will help Chairman Ben S. Bernanke plan an exit from record monetary stimulus and strengthen banking supervision and consumer protection.

Janet Yellen, an economist who heads the Fed Bank of San Francisco, is Obama’s choice for central bank vice chairman in Washington. The administration has also approached Sarah Bloom Raskin, Maryland’s commissioner of financial regulation, and Peter Diamond, an economics professor at the Massachusetts Institute of Technology, to fill two vacancies on the Board of Governors.

The appointments would complete the Federal Reserve’s seven-member board for the first time since April 2006. Yellen, former chief economist under President Bill Clinton, and Diamond could help Bernanke determine when to raise interest rates from record lows, while Raskin brings expertise in regulatory issues.

“Does Bernanke need help in navigating the exit strategy? He sure does,” said former Fed Governor Lyle Gramley, senior economic adviser at Potomac Research Group in Washington. “The board has a lot of work to do in a variety of areas, even under normal circumstances.”
Yellen, 63, would replace Donald Kohn, who will retire at the end of his term in June after 40 years at the Fed. His departure would leave Bernanke, a former Princeton University professor, as the only economist on the board.

Growing Workload

“It was absolutely critical that the vacancies be filled,” said New York University economist Mark Gertler, who co-wrote research with Bernanke. “Its workload now is higher than it has ever been in the postwar, given that it must now deal with the vexing issue of financial-market regulation and also the winding down of its balance sheet.”

Fed governors are responsible for setting monetary policy as voting members of the Federal Open Market Committee, along with the president of the New York Fed. The other 11 Fed bank presidents rotate as voting members.
The FOMC, which next meets March 16, is likely to keep the benchmark interest rate unchanged until November, according to the median forecast in a Bloomberg News survey of economists this month. The central bank cut the main rate to a range of zero to 0.25 percent in December 2008.

The Fed has already wound down many of the emergency programs it set up to battle the financial crisis, and it plans to complete purchases of $1.25 trillion of mortgage-backed securities this month.

Balance Sheet

Fed officials are now debating how and when to shrink the central bank’s $2.29 trillion balance sheet. Some policy makers pushed to start selling assets in the “near future,” according to minutes of their Jan. 26-27 meeting.

Yellen said last month that the U.S. “still needs the support of extraordinarily low” interest rates.

Yellen spent most of her career teaching economics and researching labor markets, joining the University of California at Berkeley in 1980. She and her husband, George Akerlof, a Nobel Prize-winning economist, have written more than a dozen papers that included studies on unemployment, wages, street gangs and out-of-wedlock births.

In 1994, Clinton appointed Yellen to be a Fed governor in Washington, serving until 1997, when the president moved her to the White House to chair the Council of Economic Advisers. She left the position in 1999 to return to Berkeley.

Yellen rejoined the Fed in 2004 as president of its San Francisco district bank, which represents the largest region by area and economic output. She has always voted with the majority of policy makers on interest-rate decisions.

Consumer Protection

Raskin, chair of the Legislative Committee of the Conference of State Bank Supervisors, said in congressional testimony last June she viewed the role of state regulators as “the first-line of protection for consumers.”

U.S. senators are considering creating a new consumer protection agency within the Fed. Barney Frank, Chairman of the House Financial Services Committee, called a Senate plan “a joke” because he said the Fed has failed to protect consumers in the past.

Federal Reserve Governor Daniel Tarullo and Bernanke are revamping the central bank’s approach to supervision, even as the Senate considers proposals to limit or remove the Fed’s oversight powers.
Diamond, a specialist in taxation and behavioral economics, has written on overhauling entitlement programs. His 2003 book “Saving Social Security” was co-written with Peter Orszag, director of the Office of Management and Budget.

“I definitely think this trio helps on both fronts,” monetary policy and supervision, said Alan Blinder, a Princeton University economist and former Fed vice chairman.

To contact the reporters on this story: Steve Matthews in Atlanta at [email protected]
Last Updated: March 13, 2010 00:01 EST

Link : http://www.bloomberg.com/apps/news?p...d=aK2QbDvjGOWg

Global Energy After The Economic Crisis
Christof Ruhl

Commercially traded energy is what classical economists used to call a "basic good": directly or indirectly, it enters the production of every other produced commodity or service. Nonrenewable fossil-fuel energy and nuclear energy are produced by first converting and then burning natural resources.

Because these resources are finite and unevenly distributed, they seem to become increasingly hard to come by when global economic activity expands. The need to maintain regular access to them is the simple logic behind the concept of energy security.

Recently, these traditional concerns have been exacerbated by another threat: the fear that the atmosphere's capacity to absorb carbon emissions caused by humans may be exhausted long before humans' capacity to find hydrocarbons in the earth's crust and burn them for energy is.


Read More >> http://www.ihavenet.com/economy/Glob...Crisis-FA.html

Notice : Let's WE make GREEN World...

Thanks bro for the chart and the info

Many guys says e/u and g/u going UP so high
But my view the same we going down so, Time best tool to tell

All take care

nice work tsar u have been reading keep it up thats the way to master the market

wise man the room with out u is boring come bro we need u

[quote=Tsar;3548224]Hi Privet,


Hi! How your business?
do we go before 1.5410
and after 1.4355 ?

Your Welcome, Bro

We're in same Boat.
Hopefully... We Realizable in This Week

Cheers

Thank's Bro

Just SHARING Info about Fundamental Analysis for ALL
And... Supported for my View in CHART Pattern.

cable is set to climb upward due to the pension age of women being advanced gradually to 65 what this will do is to reduce women unemployment and to place a conciderable amount of cash into the british coffers .this coupled with unemployment gradually being reduced will create big drops in the unemployment levels .as we know the economic anouncements will spike upwards raising the level of the pound .over the course of time the pound value could lift back to the two dollar level .so watch and profit in the future .

Would be nice if you could provide the source link as perfectly demonstrated by Tsar's recent fundamental posts. Thank you.

[quote=Privet;3548318] More Better...

At MONDAY in Market Open, CABLE have Little UP first to 1.5245 (Arround)
And then Go DOWN...

After DOWN, will go UP again to 1.54xx (Max) try to TEST.
If Can BROKE... GU will go UP to 1.55xx
If Can NOT BROKE... GU will DOWN until 1.457x ( with Zig Zag UP & DOWN. Of course )

Maybe I'm WRONG, but Hopely, I'm Right.

Best thing i read today
“Ninety percent of everything is crap.”
Theodore Sturgeon

[quote=Privet;3548318] privet
hey sweet thing how are u long time where u been great work keep it up

From the Los Angeles Times:

Economist Janet L. Yellen, a California-based official of the Federal Reserve, has emerged as President Obama's likely nominee to be vice chairwoman of the central bank.

She is an inflationist with socialist leanings even more radical than her boss Ben Bernenke. She once remarked that if it were in her power she would make interest rates negative. With her appointment it makes it easier for Obama to flood the world with more unbacked fiat US Dollars

Her appointment means more US deficits, more borrowing, and more issuance of US Treasury bonds to bailout failing banks, businesses, unions, Obama chronies, house mortgage holders and the unemployed and muutibillion funding for the upcoming health care legislation and more subsidies to defense contractors.


Unemployment extention payments for up to 99 weeks are being voted on in the US Senate and are likely to pass. This is not really unemployement benefits but a form of welfare. - paying people not to work.

Eventually the party will end as world wide investors are reluctant to fund all the deficits, bailouts, give aways etc.

This will lead to increased inflation world wide and a drop in the US Dollar. Commodities such as gold, crude oil, grains, copper, silver, stock markets will continue in their uptrends.

Commodity currencies such as the AUD and Canadian dollar will be well supported. Already the US Dollar Index is topping out.

I saw the RAINBOW in DAILY Chart Pattern

good time