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Feb 23, 2012 10:25AM GMT
New York London Tokyo
Inflationary News Supports British Pound
By James Hyerczyk | General Overview | Jul 15, 2008 06:20PM GMT
The GBP/USD surged to an almost four month high on stronger than expected inflationary news out of the U.K..
Financial market traders in the U.K. are taking this as a sign that the Bank of England is in no position to lower rates and at the least will leave rates unchanged at its next meeting.
The BOE's hands are tied because raising rates from current levels would most likely stifle any economic growth which is taking place.
A deepening housing situation is the U.K.'s worse problem. So far there has been no evidence that the U.S. financial crisis has reached the same proportion in England.
Despite the bullishness in the Pound, this market exceeded most expectations on Tuesday's rally and could be set up for a profit-taking break.
Based on the current short-term range, do not be surprised by a break back to 1.9902 to 1.9842.
Financial market traders in the U.K. are taking this as a sign that the Bank of England is in no position to lower rates and at the least will leave rates unchanged at its next meeting.
The BOE's hands are tied because raising rates from current levels would most likely stifle any economic growth which is taking place.
A deepening housing situation is the U.K.'s worse problem. So far there has been no evidence that the U.S. financial crisis has reached the same proportion in England.
Despite the bullishness in the Pound, this market exceeded most expectations on Tuesday's rally and could be set up for a profit-taking break.
Based on the current short-term range, do not be surprised by a break back to 1.9902 to 1.9842.
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CFDs Quotes
| SPX 500 Futures | 1355.95 | -0.05 | 0.00% | |||
| NQ 100 Futures | 2582.90 | +4.15 | +0.16% | |||
| US 30 | 12938.67 | -27.02 | -0.21% | |||
| DAX | 6806.50 | -37.37 | -0.55% | |||
| UK 100 | 5918.00 | +1.45 | +0.02% | |||
| Japan 225 | 9595.57 | +41.57 | +0.44% | |||
| US Dollar Index | 78.97 | -0.34 | -0.43% |
CFDs Quotes
| Gold | 1779.75 | +8.45 | +0.48% | |||
| Silver | 34.568 | +0.314 | +0.92% | |||
| Copper | 3.818 | -0.015 | -0.40% | |||
| Crude Oil | 106.22 | -0.06 | -0.06% | |||
| Natural Gas | 2.822 | +0.047 | +1.69% | |||
| US Cotton No.2 | 90.31 | -0.21 | -0.24% | |||
| US Coffee C | 203.57 | +2.00 | +0.99% |
CFDs Quotes
| Euro Bund | 138.85 | -0.03 | -0.02% | |||
| Italian Govt. B. | 103.06 | -0.17 | -0.16% | |||
| Euro BOBL | 125.15 | -0.06 | -0.05% | |||
| UK Gilt | 115.83 | -0.11 | -0.09% | |||
| US 2 YR T-Note | 110.22 | -0.01 | -0.01% | |||
| US 10 YR T-Note | 130.90 | -0.17 | -0.13% | |||
| US 30 YR T-Bond | 142.07 | -0.29 | -0.20% |
Recent Activity
Central Banks Rates
| Central Banks | Interest Rates | Next Meeting | |||
|---|---|---|---|---|---|
| FED | 0.00%-0.250% | 03/13/12 | |||
| ECB | 1.000% | 03/08/12 | |||
| BOE | 0.500% | 03/08/12 | |||
| SNB | 0.000% | 03/15/12 | |||
| RBA | 4.250% | 03/06/12 | |||
| BOC | 1.000% | 03/08/12 | |||
| RBNZ | 2.500% | 03/07/12 | |||
| BOJ | 0.100% | 03/13/12 | |||
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