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Sky: Pound Hits All-time Low Against Euro

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http://uk.biz.yahoo.com/28032008/140/pound...ainst-euro.html

Friday March 28, 11:57 AM
Pound Hits All-Time Low Against Euro
By Sky News
| | |
The pound slid to an all-time low against the euro following news that consumer confidence is at its lowest level for some 15 years.
It also lost ground to the dollar because of the big dent in optimism and a Nationwide housing survey which showed
house prices have fallen five months in in a row.

More confirmation that Gordon's miracle is headed in the same direction as his inflated HP.

GBPEUR=X 1 28 Mar 1.2639

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The pound slid to an all-time low against the euro following news that consumer confidence is at its lowest level for some 15 years.

It also lost ground to the dollar because of the big dent in optimism and a Nationwide housing survey which showed

house prices have fallen five months in in a row.

Is the argument for cuts and to hold equal though.

Pound falls - hold off cuts as I presume cuts will elad to further sterling falls.

Economy slowing, house prices falling - demand for cuts

Still 50 50 as far as I can make out. Add to that the pressure from bankers and cuts look more likely IMPO.

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Gordon should have a work with Sarko - get him to put pressure on Trichet to cut rates.

But hold on, Trichet is able to tell Sarko to feck off.

Pity Mervyn can't do the same thing to Gordon.

Sarko was over here hinting in speech's that he wished the French economy was more like the British. I suspect many on HPC would prefer the UK economy to be more like the French. At least they can still build the odd thing or two.

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Sarko was over here hinting in speech's that he wished the French economy was more like the British.

Sarko is a bling king. Nuff said. Made me laugh to see all those sycophantic champagne socialists glad handing him with such gusto.

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Sarko is a bling king. Nuff said. Made me laugh to see all those sycophantic champagne socialists glad handing him with such gusto.

That is true-not even a grey hair on his head. Gordon did not appear to be jealous of Sarky's wife. Strange? The press have found themselves a replacement for Di sort off, or at least another Jaqueline Kennedy-Onassis.

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Sarko was over here hinting in speech's that he wished the French economy was more like the British. I suspect many on HPC would prefer the UK economy to be more like the French. At least they can still build the odd thing or two.

You see, Gordon's done such a wonderful job that the French are looking to join the Pound....

..... I'll get my coat.

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I presume cuts will elad to further sterling falls.

To be honest when they cut it will probably not fall much further.. I imagine this fall in the value of sterling is on the back of the expectation of the cut we are about to have.

If it happens: Little / no change

If they raise: Sterling will strengthen considerably

(IMO of cause)

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Here we go past the 0.8 barrier (0.795 last time I looked).

Not so long ago, my mental calculator was set with 0.65 pence to the Euro. Glad that I am paid in Euros and half my savings are in Euros and Swissies.

Edited by nerble

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Here we go past the 0.8 barrier (0.795 last time I looked).

Not so long ago, my mental calculator was set with 0.65 pence to the Euro. Glad that I am paid in Euros and half my savings are in Euros and Swissies.

Sterling's long and rapid slide continues. It's touching .796p to euro this morning against .65 just six months ago. With UK plc's problems becoming increasingly apparent what's to stop it nearing parity before long?

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Sterling's long and rapid slide continues. It's touching .796p to euro this morning against .65 just six months ago. With UK plc's problems becoming increasingly apparent what's to stop it nearing parity before long?

the only thing would be that Italy, Ireland and Spain bring down the Euro as their economies are suffering badly. However, the global situation of the Euro seems to be way better off than the UK anyways.

Parity with the EU quite soon. Watch it.

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the only thing would be that Italy, Ireland and Spain bring down the Euro as their economies are suffering badly. However, the global situation of the Euro seems to be way better off than the UK anyways.

Don't be fooled by Italy's official figures. A huge percentage of their economy is black market and off the books. They're doing a lot better than they make out though it won't stop them squealing and demanding help of course. Similiar situation in Spain though on a smaller scale. Brit and Irish property speculators on the Costas may get wiped out but so what! There'll have to be some belt-tightening in both countries but not on the apocalyptic scale that people like Ambrose Evans-Pritchard predict.

As for the Republic of Ireland: the Celtic Tiger has been shot dead. They've enjoyed the debt-fuelled spending party and now it's time for them to pay for it. Ireland's got much pain to come, though I can't see the ECB and the rest of the EU having much sympathy for them. They won't be leaving the euro though as they've got nowhere else to go.

Parity with the EU quite soon. Watch it.

It looks like it's coming.

streaming forex

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Listening to varicose currency"experts" on Gloomberg this fine HPC morn and I find it remarkable that they are only just waking up to the fact that Gordon's miracle economy is headed in the same direction as the miracle house prices he facilitated over a 10 year period of imprudent credit expansion.

Parity with the Euo seems likely before the year is out:

GBPEUR=X 1 31 Mar 1.2555

The chart is even more dramatic:

http://uk.finance.yahoo.com/currency-conve...=GBP&to=EUR

And the HPC is only just getting underway. Think about where sterling will be in a few months now that denial is over and poisons are hatching out eveywhere in the miracle economy.

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Don't be fooled by Italy's official figures. A huge percentage of their economy is black market and off the books. They're doing a lot better than they make out though it won't stop them squealing and demanding help of course. Similiar situation in Spain though on a smaller scale. Brit and Irish property speculators on the Costas may get wiped out but so what! There'll have to be some belt-tightening in both countries but not on the apocalyptic scale that people like Ambrose Evans-Pritchard predict.

As for the Republic of Ireland: the Celtic Tiger has been shot dead. They've enjoyed the debt-fuelled spending party and now it's time for them to pay for it. Ireland's got much pain to come, though I can't see the ECB and the rest of the EU having much sympathy for them. They won't be leaving the euro though as they've got nowhere else to go.

It looks like it's coming.

streaming forex

I know well about Italy, being Italian myself. I agree, most of the country's PLC is hidden and the black market far exceeds what is declared. However, even the little tax dodgers who were purchasing Porsche Cayennes a year ago, now are suffering and a lot of business are going to the wall.

Anecdotals from friends and family over there seem to support that there is crisis. More then ever before.

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I know well about Italy, being Italian myself. I agree, most of the country's PLC is hidden and the black market far exceeds what is declared. However, even the little tax dodgers who were purchasing Porsche Cayennes a year ago, now are suffering and a lot of business are going to the wall.

Anecdotals from friends and family over there seem to support that there is crisis. More then ever before.

Didn't there used to be a saying: "Italy: situation critical but not serious"? :lol:

Italy always seems to wriggle out of a hard landing!

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Euro just had another go at a new high against the dollar.

Failed just under 1.59 and then pulled back to 1.58 taking precious metals down with it. It still looks to have support above 1.5750, below that then we're looking at a bigger Euro fall.

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To be honest when they cut it will probably not fall much further.. I imagine this fall in the value of sterling is on the back of the expectation of the cut we are about to have.

If it happens: Little / no change

If they raise: Sterling will strengthen considerably

(IMO of cause)

This is good thinking to me... If someone here thinks market has not priced in fair amount of sh1t, then think again - we have seen there is plenty of inv. w@nkers instead of inv.bankers, but it doesn't mean the market is inefficient and dumb in relative pricing of most liquid currencies.

BoE can only surprise - by not cutting (or hiking). Hiking is probably wishful thinking, but leaving the rate on hold would be quite splendid. And honestly I can't see any reputational gain if the BoE cut now - they have already learnt that cutting does not equate to increasing liquidity these days, so why cut... better think how to provide liquidity to those species that are or will be chasing it like mad this year and try to fight the fecking inflation rather than inflate things even further.

If King surprises here (by not cutting as widely expected (until prices are brought under control)), pound may not fall much further, against EUR that is. Also, if someone thinks Euroland is cool, think again. At the end of day, there are many good things about anglo-saxon capitalism. (Personally, I'm glad to see that NR is being downsized or so it seems to me..I hope they slowly kill it and sell the remains to a going concern. This would be a slap into the face of those hoping to see a Japan in an anglo-saxon environment. As long as they liquidate entities like NR, the UK should be fine.)

There's lot of sh1t on this island, but I believe this place can behave a like a motor-boat (quick and agile) rather than a tanker (Euroland), that takes half a day to break, another half a day to turn 90 degrees to the right or left etc.. I'd tend to think this is why, contrary to and probably because of the relative USD, GBP, and EUR performance), DAX is the worst performing index while DOW is the best performing with FTSE inbetween.

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Italy always seems to wriggle out of a hard landing!

And you know why? Because they could always devalue. Before Eurozon that is. Let's see what happens this time....

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snip..........Also, if someone thinks Euroland is cool, think again. At the end of day, there are many good things about anglo-saxon capitalism. (Personally, I'm glad to see that NR is being downsized or so it seems to me..I hope they slowly kill it and sell the remains to a going concern. This would be a slap into the face of those hoping to see a Japan in an anglo-saxon environment. As long as they liquidate entities like NR, the UK should be fine.)

There's lot of sh1t on this island, but I believe this place can behave a like a motor-boat (quick and agile) rather than a tanker (Euroland), that takes half a day to break, another half a day to turn 90 degrees to the right or left etc.. I'd tend to think this is why, contrary to and probably because of the relative USD, GBP, and EUR performance), DAX is the worst performing index while DOW is the best performing with FTSE inbetween.

You are Ambrose Evans-Pritchard and I claim my £5 ;) Can I have it in euros please? :lol:

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You are Ambrose Evans-Pritchard and I claim my £5 ;) Can I have it in euros please? :lol:

Is it a compliment or :blink: ....... :lol: I don't know that guy well as I'm not reading too much of English newspapers. As I understood, a Telegraph writer...

The only thing that scares me a bit is that look of one HPCer: a polar bear with red glasses. That guru had some scary statistics about housing stock as a proportion of the UK's aggregate wealth the other day, but I'd tend to think currency markets need no presentation of those facts and that they are aware of it and how it may unfold :blink: ... But only time will tell. That'd be quite a dent to my belief in the efficieny of the market in pricing (publicly traded and liquid) financial assets. If the pound were to fall much further due to what is publicly known (housing trouble) and expected (a bit of rate cuts by BoE), I'd need to eat my hat and w/o ketchup, like Krusty. The trick here is not to forget that Euroland is no safe haven...so it all ends up being very relative, Euro is nothing absolute. I hope.

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  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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