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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3054
Posted: Feb 22, 2010 5:00
Comments: 3054
Forum Topic:
GBP
Discuss GBP
Considering Euro is still coming into its correction range bound mode for a while.
Aussie fundamental still look firm for month ahead.
Gold still find its support below 1100 before a big move up.
Considering Libor will correct a little over 3.5 %
Inflation decreasing that may play a little positivity on US equities
Plus after a slow growth seen through out winter season we will start getting better figures. So till august i see up side.
Let wait and see what Jim O'Neill has to say a bit later on much of market sentiment.
Today the new chancellor George Osborne is announcing a downpayment of 6 billion in cuts to Government spending. Really this does not even qualify as a rounding error (indeed the most recent published PSBR was more off target than 6 billion).
There is a budget next month to go for the real deal, but when 60 billion needs to be taken out of public sector and away from future taxpayers debt burden, speed is of the essence. I can only hope that the government realises that death by a thousand cuts is a form of torture and not a successful political strategy.
the euro is highly media covered at present and perception was incredibally bearish hence the bounce this week. it is too early to establish that a new euro trend has emerged.