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The Euro Is Getting A Rest For A Few Days !


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If you look at a weekly chart, it looks like the equivalent of a bear market rally. Given the violence, this upmove looks far less likely to hold than the preceding down move from end nov to y/e.

Eh? :blink: It's just volatility, wasn't right in late December not right now, markets (and everything and everyone who moves them) expects the ECB to cut their base rate more dramatically next week.

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I don't pretend to understand the whole " never join the euro" brigade. I am sure there are good reasons for and against.

I think, had we joined a number of years ago, we wouldnt have been able to get into so much debt but I could be wrong

I would also guess that the Euro would be a much stronger currency if we were part of it.

I like to trade a little Forex but you wouldn't find me suggesting a trade, especially buying Euro with Cable ( sterling) at the highest point it had ever reached.

Things aren't great here in the UK , nor are they in America or the Eurozone and speculating on fx markets, especially if you're geared ( leveraged) is extremely risky

People cry when they're losing £3 grand a month on their houses. That can be lost in minutes with shares, gold or Forex

Careful with your STR funds peeps

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Guest theboltonfury
Since when does this country export anything other than pensioners to spain and debt.

very funny. I like that image of rounding up oldies to send them to Spain against their wills

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I like to trade a little Forex but you wouldn't find me suggesting a trade, especially buying Euro with Cable ( sterling) at the highest point it had ever reached.

Things aren't great here in the UK , nor are they in America or the Eurozone and speculating on fx markets, especially if you're geared ( leveraged) is extremely risky

People cry when they're losing £3 grand a month on their houses. That can be lost in minutes with shares, gold or Forex

Careful with your STR funds peeps

Also be careful who you use; my usual FX dealer went bust last year and a mate lost £12,000.00. Apparently the CEO has absconded with the funds. Are there any guarantees in situations like this or is it seen as speculation and therefore not covered, like shares. (He wasn't, the money was to pay his builder).

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Since when does this country export anything other than pensioners to spain and debt.

Sigh. Looks like I'll have to quote the world factbook again:

Exports in millions of $ (2007)

1 Germany 1,354,000

2 China 1,220,000

3 United States 1,148,000

4 Japan 678,100

5 France 546,000

6 Italy 502,400

7 Netherlands 456,800

8 United Kingdom 442,200

9 Canada 431,100

10 South Korea 379,000

STILL surprises me about the Netherlands. All those flowers. :rolleyes:

No, I have no idea if it includes 'financial products' but it probably includes all the pop / rock music exports, god bless them.

Edited: Rally of £ over? Back down to where it was just before 12 o'clock, €1.11.

Edited by deflation
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Yep, but he needs to cash out asap. If he hasn't already. He's still made a tidy sum.

i have taken insurance i'm not that stupid...i really can't lose whatever is going to happen. i had to spend some of my profit's to ensure myself...such is life i stand by what i have said..a few bad days will not alter things a great deal. it's like the stock market's they went up and are coming down again, the same will happen with the pound.

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ECB will not cut if they do it will be a very small cut,, :lol: as much as you want in a few short days things will turn,just like stocks i told a mate stocks will go down again he :lol: well his not :lol: now..i hope you can all have a good laugh their is not much to laugh at these days..so pls enjoy yourselfs..happy new year to one and all.. :)

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Come thursday BoE will cut IR by 1% and the £ will hit € parity, and then, as widely predicted, we will automatically change to the euros. Cash machines will issue euros at a 1:1 rate, banks will change all your statements to euros, supermarkets will cross out all the £ signs and draw in €s, and the BoE will print €100bn in euros to bail out the UK banks.

You'll also need to alter your £20 notes with a biro.... will only take 2 sec as they look just like euros anyway.

I m not being critical of you here, but your thinking is wrong. The rate cut of 50 basis points was a near certainty amongst traders and the market. So this was priced in. The risk was that the BOE may cut rates by 75-100 basis points. Infact, the bias was that there was a greater than 50% chance of this happening...So the BOE cutting rates...led to a sterling rally. Infact, I called on this forum 3 weeks, in a sub-section of HPC, with a chart, that the euro/gp was in the process of topping out, and this would happen anytime in the next 3 weeks. Everyone is on the one side of this trade, and when that happens, you are better to take the opposite view of the herd mentality. Everyone is talking about imminent parity...considering lots the large banks currency valuation models find more realistic value at under 90, means that the smart money may be exciting...perhaps we will test the tops in the euro/gbp, perhaps we will get a parity. I wouldnt be long myself. I m quite sure a reversal is now in place...As everyone is long, then they will be forced to cover the longs, which will cause a nice rally sterling, which seems to be the case.

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Sigh. Looks like I'll have to quote the world factbook again:

Exports in millions of $ (2007)

1 Germany 1,354,000

2 China 1,220,000

3 United States 1,148,000

4 Japan 678,100

5 France 546,000

6 Italy 502,400

7 Netherlands 456,800

8 United Kingdom 442,200

9 Canada 431,100

10 South Korea 379,000

Does anyone know where there's a breakdown of these figures for UK exports?

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ECB will not cut if they do it will be a very small cut,, :lol: as much as you want in a few short days things will turn,just like stocks i told a mate stocks will go down again he :lol: well his not :lol: now..i hope you can all have a good laugh their is not much to laugh at these days..so pls enjoy yourselfs..happy new year to one and all.. :)

I think you were heavily advised not to get greedy and cash in your euros. Are you laughing now?

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I think you were heavily advised not to get greedy and cash in your euros. Are you laughing now?

yes i am still laughing, will still be laughing unless it falls of the cliff,,if it goe's back down to £1=1.10 i will sell..i have taken cover at £1=1.07 i could sell the cover now and make a very nice sum..so far win,win,,...nothing i have said has changed...long term i wanted 1=1 by end of march or before..

the fact it happend before was good ,i'm in it for the long term i will cash in 50% of my money by the end of this month..everthing i said about march will come true, march is coming closer and closer now..

it's not hard to hedge when you have made a packet..no need to get out just hedge you can make it both ways if you were in early like me..

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