3 - 7 Aug News

Busy week ahead..

Mon 3/8
USD ISM Manufacturing... figure better than last month although still in contraction

Tue 4/8
USD Personal Consumption Expenditure
USD ABC Consumer Confidence
GBP Consumer Confidence

Wed 5/8
GBP NIESR GDP Estimate

Thur 6/8
GBP BoE Interest Rate Decision at 11:00am GMT
Eur ECB Interest Rate Decision at 11:45am GMT

Fri 7/8
USD Non Farm Payrolls

As mentioned earlier....
HSBC post unexpected profit
Barclay post better result

causing GBP break the last 2009 high at 1.67 moved to 1.68

http://www.dailyfx.com/story/dailyfx_reports/daily_brief/Dollar_Coming_Under_Pressure_As_1249294819506.html

then at night... added by goodies frm US, pushing pound move higher to 1.69
http://www.bloomberg.com/apps/news?pid=20601087&sid=a_5hcqAqIyRQ

http://www.bloomberg.com/apps/news?pid=20601087&sid=aDXpH2lM6JAw

tonight we saw GBP & Euro break their 2009 high...
Euro moved higher to 1.44
GBP moved to 1.69
(I thought I read somewhere before, they target pound to 1.70...)

I just didn't get it...
there is uncertainty about BoE going to expend QE or not...
and still pound rally up...
(I thought crowd should be fear...)

well I guess the crowd ady overconfidence since there are lots of good news coming out lately....
somemore Greenspan comment this morning saying recession almost over...

http://www.dailyfx.com/story/market_alerts/fundamental_alert/Sterling_Ascends_to_Fresh_2009_1249297152189.html

the analyst mentioned to short GU...
http://www.dailyfx.com/story/market_alerts/technical_alert/Euro___Swisse_to_Fresh_1249312743865.html

Today is the day....
two main announcement for risky asset
BoE Interest Rate announcement
ECB Interest Rate announcement

most analyst said BoE going to announce to stop QE program...

GJ will be volatile as usual... analyst said GJ going to form double top...
until today...still cannot break 2009 high

http://www.dailyfx.com/story/trading_reports/pairs_to_range_trade/A_BoE_Rate_Decision_Makes_1249511681541.html

more indecision...
http://www.bloomberg.com/apps/news?pid=20601087&sid=aIyrSaVvJ2BE

What a joke....
trader been buying up and up....
most analyst said BoE going to stop QE
then BoE announce to expend QE more than expected amount

Moral of the story: never trust analyst...
(lucky I didn't trust them... instead of buying... I've been shorting ha..ha..)

http://www.dailyfx.com/story/market_alerts/fundamental_alert/BOE_Holds_Steady_But_Lowers1249557529786.html

http://www.bloomberg.com/apps/news?pid=20601087&sid=aPwLrU0E47xI

causing GU dive from 1.70 -> 1.68

another bad news frm US
http://www.bloomberg.com/apps/news?pid=20601087&sid=anW5t1sMBBss

Tonight NonFarm number better than expected...
Expected -328k Actual -247k

suddenly push up GJ @ EJ around 8.30pm just now....