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Posts by "stationdealer"
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Posts by Anonymous "stationdealer":
Pair is now trading above 12530 head for 12580 in my view as Europe's rescue plan has been met by an approval
(RTTNews) - Corrects the final sentence in the second paragraph
U.K.s public sector net borrowing was GBP 10 billion in April compared to a borrowing of GBP 8.8 billion in April 2009, data from Office for National Statistics showed Friday. The forecast for 2010/11 is net borrowing of GBP 157 billion. Consensus forecast for April was GBP 10.9 billion.
The public sector net cash requirement was GBP 8.8 billion, a GBP 4 billion higher net cash requirement than in April 2009, when there was a net cash requirement of GBP 4.9 billion. PSNCR stood above the expected GBP 7 billion.
At the end of April 2010, public sector net debt was GBP 893.4 billion, which was equivalent to 62.1% of GDP. This was larger than the GBP 755.4 billion debt or 53.9% of GDP as at the end of April 2009.
For comments and feedback: contact editorial@rttnews.com
The move below 1.25 in EUR/USD was short-lived and we are now trading back around 1.2540. The doom and gloom merchants were out in force in the UK press this morning but we have heard it all before. The European session has been a quiet one so far in stark contrast to the Asian session where liquidity is a huge problem.
Asian regional central banks were intervening all day in order to protect their local currencies. Talk of around half a yard each at the central banks of Taiwan, Philippines and Indonesia. Whilst S. Korea had a holiday it did not stop KRW NDFs trading another 2% higher. Asia has got the jitters big time. Another 4% drop on Wall Street may send them over the edge.
In other news
FRANKFURT (MNI) The German federal government will top up its
Feb2011 maturity bubill by E2 billion, the Bundesbank confirmed Friday.
The formal tender offer will be made on Friday, May 28. Bids are
due by 0900 GMT on Monday, May 31, with results of the allocation to be
announced shortly thereafter.
The bubills will settle on Wednesday, June 2, 2010 and mature on
February 23, 2011.
@LUCKY
I can suggest another sell from 1186 with a stoploss of 1206 see if it fares well for you
The unadjusted current account balance also turned to a surplus of EUR 1.3 billion, compared to the EUR 6.2 billion deficit a month ago.
The swing in the balance sheet came due to a higher surplus in the goods account and a sharply narrower deficit in the current transfers account.
Meanwhile, the unadjusted financial account recorded a surplus of EUR 0.9 billion in March, down from the EUR 4.5 billion surplus in the prior month.
@INGBalek I would suggest, considering the fundamental as they are as of today you know only imagine where the European bonds will be headed next week onto next month till the next release. Its over mate adjust your positions for longs aswell.
@ASHRAF "UK as the April Public Sector Borrowing Requirement surged to a new record of 8.8bln, M3 (money supply) was flat for the month and mortgage approvals fell to 47K, highlighting continued govt borrowing and weak bank lending." I ask, Would this not open doors for further QE? and if QE is brought in what effects do you see on GBP back of those measures. QE to me seem coming sooner than later. What do you think?
Alternative scenario: Below 0.821 look for further downside with 0.807 & 0.7905 as targets.
Comment: the RSI is mixed and calls for caution.
Key levels
0.859
0.85
0.837
0.8226 last
0.821
0.807
0.7905
I think we need to play this pair in 200-pip swings with the latest parameters at 1.2470 and 1.2670. I have solid support at 1.2400/20 and strong resistance at 1.2730 (38.2% retracement of the 1.3690/1.2145 fall).
Whilst some blame todays move on the RBA checking prices in the Asian morning rubbish the real culprit remains risk deduction. AUD/USD positions were extended across the board. AUD/JPY fell 8% at one stage yesterday and ricochet back over 4% today. Ditto EUR/AUD.
Option players say players are covering themselves through the options market and paying up to 25% for volatilty which can normally be purchased for less than half that price.
I dont have a firm on where it is headed but I would be a seller on rallies near 84 cents on the expectation that a move to 85 cents would see the topside out.
May 20, 2010 | Leave a Comment
By: John Nyaradi
As global markets swooned today, the question of the hour has to be, Is the bear back?
Many indicators would answer yes to that question and in a moment well take a look at some of the major factors at work in todays volatile markets.
In spite of the possible return of the bear, we had a good day today at Wall Street Sector Selector as we remain in the Red Flag Flying mode, expecting lower prices ahead.
Our portfolios year to date stand as follows:
Sector Selector Option Master: +73.3%
Sector Selector Standard: +14.4%
Sector Selector 2X: -4.0%
Today was a total wipeout as a global stock market rout rolled around the world in response to the ongoing crisis in Europe and declining confidence worldwide. Todays drop in the Dow was its largest one day decline since March 5, 2009, just before the now infamous March lows and bigger than last weeks flash crash.
Overseas the bungling bureaucrats in Europe continued to struggle with the crisis of the plunging Euro and were once more unable to get in front of this problem in spite of reportedly significant central bank intervention.
At home, new jobless claims jumped unexpectedly, April leading economic indicators declined and there are growing signs of a worsening credit crunch as interbank lending rates continue to rise.
The S&P 500 is now in official correction territory, down -11% from recent highs, and more ominously, has now closed below its 200 Day Moving Average which is widely viewed as the demarcation line between bull and bear markets. If its unable to recover above the 200 Day Moving Average, even lower prices could be expected.
Friday is options expirations day which oftentimes brings even increased volatility and so it should be an interesting end to an interesting week.
Disclosure: VXX, EFZ, EEV, S&P Put Option