mrpleasant Posted May 23, 2011 Share Posted May 23, 2011 Anyone noticed the FTSE this morning? Down nearly 2% already... Quote Link to comment Share on other sites More sharing options...
Pent Up Posted May 23, 2011 Share Posted May 23, 2011 Black Monday!!! Oh wait, forget it I'm too late. (and don't want to jinx it!) Quote Link to comment Share on other sites More sharing options...
Errol Posted May 23, 2011 Share Posted May 23, 2011 Dollar strength. Pound weakness. Quote Link to comment Share on other sites More sharing options...
ken_ichikawa Posted May 23, 2011 Share Posted May 23, 2011 Volcano means the bombing of Libya has to stop shortly, and the up and coming carpet bombing campaign of Iran is to be delayed for a bit. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted May 23, 2011 Share Posted May 23, 2011 Towards the end of the week there is a ey US consumer spendingn report out. Over the weekend US media was suggesting that the report will show that US consumers have stopped spending. Quote Link to comment Share on other sites More sharing options...
Fishman Posted May 23, 2011 Share Posted May 23, 2011 Towards the end of the week there is a ey US consumer spendingn report out. Over the weekend US media was suggesting that the report will show that US consumers have stopped spending. Italy downgraded. Individuals finally realising the inevitability of the failure of the common currency experiment in Europe. Hang on to your hats. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted May 23, 2011 Share Posted May 23, 2011 Shouldn't gold be rising in such a situation? Quote Link to comment Share on other sites More sharing options...
leicestersq Posted May 23, 2011 Share Posted May 23, 2011 Shouldn't gold be rising in such a situation? I dont know if it should be, but it is. Looks like gold has hit another all time high in GBP today. Yields on UK Treasuries are falling to an unbelievable 3.3% on the ten year gilt. Clearly due to the excellent probity of the current government who are well on the way to balancing the budget and not wasting money on assisting deposits for FTB and SMI and other such nonsense. Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted May 23, 2011 Share Posted May 23, 2011 (edited) Anyone noticed the FTSE this morning? Down nearly 2% already... FTSE should be able to attract a bit of buying when it reaches future fair value of "1 point" Edited May 23, 2011 by georgia o'keeffe Quote Link to comment Share on other sites More sharing options...
skomer Posted May 23, 2011 Share Posted May 23, 2011 Spanish election results? Perhaps we will find out where Spain is hiding all its off balance-sheet debt? Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted May 23, 2011 Share Posted May 23, 2011 Dollar strength. Pound weakness. Wouldnt that work the other way? When the dollars weak, foreigners buy into the DOW. Id have thought when the pound is weak, foreigners buy into the FTSE (get more for less) Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted May 23, 2011 Share Posted May 23, 2011 I dont know if it should be, but it is. Looks like gold has hit another all time high in GBP today. Almost, it was about a quid off the all time highs. Sterling weakness driving this one, the last one was driven by Dollar weakness. The whole system is now metastable. Massive swings in currencies and PM's is apparently a sign the end isn't far off... Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted May 23, 2011 Share Posted May 23, 2011 maybe prices are a bit too high for investors to invest. we need market support by the Government otherwise some white shoe boys will be getting a trip to the barbers. Quote Link to comment Share on other sites More sharing options...
Ungeared Posted May 23, 2011 Share Posted May 23, 2011 Blackpool got relegated Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted May 23, 2011 Share Posted May 23, 2011 Dollar strength. Pound weakness. But but but everyone (practically) on HPC said $ would always fall. Some of us said it would rise sharply this year. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted May 23, 2011 Share Posted May 23, 2011 Id have thought when the pound is weak, foreigners buy into the FTSE (get more for less) Western / developed mkts move in tandem. Quote Link to comment Share on other sites More sharing options...
leicestersq Posted May 23, 2011 Share Posted May 23, 2011 But but but everyone (practically) on HPC said $ would always fall. Some of us said it would rise sharply this year. Rise and fall against what exactly? It has fallen sharply against oil for example, this year. Some would say that is the crucial measure, more so than gold even. Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted May 23, 2011 Share Posted May 23, 2011 Rise and fall against what exactly? It has fallen sharply against oil for example, this year. Some would say that is the crucial measure, more so than gold even. I think most traders if asked would recognise the key cross rate for dollar watching is the Gabonese CFA Franc, and it too has been showing weakness versus the dollar of late despite Ali Bongo still commanding the complete loyalty of the Army Quote Link to comment Share on other sites More sharing options...
Errol Posted May 23, 2011 Share Posted May 23, 2011 Shouldn't gold be rising in such a situation? It is. Check the sterling price. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted May 23, 2011 Share Posted May 23, 2011 It is. Check the sterling price. Fair enough. I only have access to comex and $ spot price on my bloomberg app, both are down marginally. Quote Link to comment Share on other sites More sharing options...
libspero Posted May 23, 2011 Share Posted May 23, 2011 Dollar strength. Pound weakness. I'm no trader.. but this looks like risk aversion more than currency exchange. If the pound were weaker you would naturally expect stocks valued in it to rise. This looks like a move out of risky assets into (US) bonds.. hence the strength in the dollar. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted May 23, 2011 Share Posted May 23, 2011 I'm no trader.. but this looks like risk aversion more than currency exchange. If the pound were weaker you would naturally expect stocks valued in it to rise. This looks like a move out of risky assets into (US) bonds.. hence the strength in the dollar. +1 Smart money is getting out of, or has already got out of, stocks. Quote Link to comment Share on other sites More sharing options...
Cozza Posted May 23, 2011 Share Posted May 23, 2011 Italy downgraded. Individuals finally realising the inevitability of the failure of the common currency experiment in Europe. Hang on to your hats. Italian sovereign bonds seem to be on an upwardly trend as are the rest of the PIIGS. http://www.bloomberg.com/apps/quote?ticker=GBTPGR10:IND Quote Link to comment Share on other sites More sharing options...
Errol Posted May 23, 2011 Share Posted May 23, 2011 (edited) Gold also up in the following: CAD, EUR, AUD, NZD, INR, HKD, JPY, RUB, BRL, MXN, KWD. http://goldprice.org/gold-price.html Edited May 23, 2011 by Errol Quote Link to comment Share on other sites More sharing options...
mikthe20 Posted May 23, 2011 Share Posted May 23, 2011 +1 Smart money is getting out of, or has already got out of, stocks. ...until they're sure QE3 is happening. Quote Link to comment Share on other sites More sharing options...
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