Retailers mixed, paring GBP and EUR shorts
<![CDATA[Retailers are still inclined for more USD gains as ratios show more USD longs than shorts. However, those ratios have changed quite considerably over the last 24hrs after the intense USD rally of this morning. I believe we’ll see another flip in market sentiment if USD progresses further, with some serious stops being targeted afterwards.
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No rate hikes in prospect for the UK - Sunday Times
<![CDATA[According to the Sunday Times article: “The BoE’s message on interest rates in recent days was intended to be neutral, sources say, and not a signal that the MPC is contemplating early rate rises”. Sentance says: “Businesses and consumers are feeling the squeeze from higher fuel and food prices, while the difficulties in the banking]]>
The IFO ‘think tank’ does not support an ECB rate hike - Bloomberg
<![CDATA[A possible interest rate hike by the European Central Bank “doesn’t make much sense,” as high energy and food prices are unlikely to trigger broad-based inflation amid a cooling economy, Ifo think-tank economist Gernot Nerb told Bloomberg TV Monday.
Nerb said the ECB isn’t capable of controlling the volatile pricing of food and energy products and]]>
At the Close. Traders challenging CBs… really?
<![CDATA[The week comes to an end with a serious liquidation of USD positions, who has seen big losses vs EUR, CHF and somewhat important vs GBP as well, while it has remained less heavily sold vs JPY.
If you would’ve asked me what I thought the closing price for the EUR/USD would be on Sunday, I]]>
Trade Idea: USD/JPY
<![CDATA[As it seems the market still holds up above 107.40, am trying half long @ 107.44, stop 106.94, target 108.04.
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