Is the end nigh for the Euro? [vol. 2]

[Driller]

http://www.bbc.co.uk/news/21331018

What a total farce! Confirms how ridiculous and self serving this system is.

How can a company who is being sued possibly be relied upon to give dependable and honest ratings on other companies, let alone countries?!

[Andy Zarse]

Driller said:

http://www.bbc.co.uk/news/21331018

What a total farce! Confirms how ridiculous and self serving this system is.

How can a company who is being sued possibly be relied upon to give dependable and honest ratings on other companies, let alone countries?!

I deplore the rating agencies role in the banking crisis, however they are yet to face trial. And just because they were telling porkies then doesn't necessarily mean they are wrong all the time.

That said, as an institution they are largely discredited, and I can't understand why some personnel haven't faced fraud charges.

[Digga]

Andy Zarse said:

I can't understand why some personnel haven't faced fraud charges.

Because until you see conclusive evidence either way, where the business of the elite - in it's broadest sense, this includes government, politics, banking and ratings agenices too - is concerned, you must always assume that things may be straight, or indeed thoroughly, inextricably bent.

The latest exibit for the latter assumtpion being backhander-pocketing Rajoy.

[turbobloke]

Last week Wills2 said:

What's is going on with the pound? Slipped to 1.14 against the Euro is this the effect of QE?

The pound gained 1% against the eeyore at 86.27p last night and the euro dropped further this morning to 85.59p, it'll be 80p by mid-summer with the eeyorezone melting again (they say, and I agree).

[London424]

turbobloke said:

Last week Wills2 said:

What's is going on with the pound? Slipped to 1.14 against the Euro is this the effect of QE?

The pound gained 1% against the eeyore at 86.27p last night and the euro dropped further this morning to 85.59p, it'll be 80p by mid-summer with the eeyorezone melting again (they say, and I agree).

It just seems to be bouncing around between bad news. Depending on what gets announced where the currency changes are following.

So which country is reporting it's numbers next?

[turbobloke]

London424 said:

turbobloke said:

Last week Wills2 said:

What's is going on with the pound? Slipped to 1.14 against the Euro is this the effect of QE?

The pound gained 1% against the eeyore at 86.27p last night and the euro dropped further this morning to 85.59p, it'll be 80p by mid-summer with the eeyorezone melting again (they say, and I agree).

It just seems to be bouncing around between bad news. Depending on what gets announced where the currency changes are following.

As a part-time forex day trader I know nothing about the markets and as such any view I support remains fantasy fiction until it becomes fact. I'd still reckon on a bouncy but steady decline of the eeyore into the summer months.

[Digga]

London424 said:

So which country is reporting it's numbers next?

I'm hearing bad news about Thrace and on the commodities markets, I'm short on Dodo bills. HTH

[longblackcoat]

turbobloke said:

London424 said:

turbobloke said:

Last week Wills2 said:

What's is going on with the pound? Slipped to 1.14 against the Euro is this the effect of QE?

The pound gained 1% against the eeyore at 86.27p last night and the euro dropped further this morning to 85.59p, it'll be 80p by mid-summer with the eeyorezone melting again (they say, and I agree).

It just seems to be bouncing around between bad news. Depending on what gets announced where the currency changes are following.

As a part-time forex day trader I know nothing about the markets and as such any view I support remains fantasy fiction until it becomes fact. I'd still reckon on a bouncy but steady decline of the eeyore into the summer months.

So you're telling us we're going to be in the pooh?

[turbobloke]

longblackcoat said:

turbobloke said:

London424 said:

turbobloke said:

Last week Wills2 said:

What's is going on with the pound? Slipped to 1.14 against the Euro is this the effect of QE?

The pound gained 1% against the eeyore at 86.27p last night and the euro dropped further this morning to 85.59p, it'll be 80p by mid-summer with the eeyorezone melting again (they say, and I agree).

It just seems to be bouncing around between bad news. Depending on what gets announced where the currency changes are following.

As a part-time forex day trader I know nothing about the markets and as such any view I support remains fantasy fiction until it becomes fact. I'd still reckon on a bouncy but steady decline of the eeyore into the summer months.

So you're telling us we're going to be in the pooh?

From the wider eeyorezone fallout? Buying eeyores could cost less by what passes for our summer.

[Driller]

When did all the Winnie the Pooh stuff start?

[Globs]

turbobloke said:

Last week Wills2 said:

What's is going on with the pound? Slipped to 1.14 against the Euro is this the effect of QE?

The pound gained 1% against the eeyore at 86.27p last night and the euro dropped further this morning to 85.59p, it'll be 80p by mid-summer with the eeyorezone melting again (they say, and I agree).

'The Thing', about the euro, is that on the bally old continent it's getting pretty rare on many quarters, hence propelling the value upwards.
A slow, painful deflation that kills the economies and wrecks the lives on the people who had no say in it's introduction.

[DJRC]

Well the forex is interesting. The plummet has been great for my bank account as it finally gives me some relief and I dont have to rely on the hedge to make it up! The hedge will stay in place as who the hell knows, but the question becomes will the rate plummet enough or continue and Sterling breaches the 1.4 barrier to the Chf.¨

Im also a little surprised that this nr vertical drop over the last month hasnt awokened some interest in the media with questions being asked.

[Huntsman]

DJRC said:

Im also a little surprised that this nr vertical drop over the last month hasnt awokened some interest in the media with questions being asked.

I was wondering that too, perhaps its all fixed? No?

[Digga]

Huntsman said:

DJRC said:

Im also a little surprised that this nr vertical drop over the last month hasnt awokened some interest in the media with questions being asked.

I was wondering that too, perhaps its all fixed? No?

GBP was marked down on some pretty early data from q4 2012. I seem to remember many occasions where the final data is fairly significantly revised in the past, but it seems the finance markets don't... Which, as you say, makes you wonder whether they just look for an excuse to generate movement.

Figures are a bit baffling. Even construction PMI is acutally showing positive.

[anonymous-user]

imho carney is going to be under considerable political pressure to generate a pick up in growth. given the tools at his disposal that means more qe, which means weaker gbp and it will probably fail. on top of that you'll be lucky to avoid a rating downgrade soon. i'm short gbpusd.

[Digga]

fbrs said:

imho carney is going to be under considerable political pressure to generate a pick up in growth.

Shame, because if there is anyone to be looked at to create growth it is the treasury not the BoE.

The only safe way forward is spending cuts matched to tax breaks at te very frontline of the economy. I notice the rhetoric is changing - Cameron is more aggressive at knocking labour back when they whinge about cuts - in the House of Commons, but not fast enough.

[Art0ir]

fbrs said:

imho carney is going to be under considerable political pressure to generate a pick up in growth. given the tools at his disposal that means more qe, which means weaker gbp and it will probably fail. on top of that you'll be lucky to avoid a rating downgrade soon. i'm short gbpusd.

Given how QE tends to be distributed and where the money ends up, I wonder are those that call for it in the UK are absolutely corrupt or absolutely idiotic. Either way it doesn't bode well.

[krallicious]

I'm glad it's not just me who is a bit baffled as to why the euro is strengthening against the pound. It is really fking me off now!

[Digga]

krallicious said:

I'm glad it's not just me who is a bit baffled as to why the euro is strengthening against the pound. It is really fking me off now!

Speaking of Carney:

Reuters said:

The signs that he may do more to stimulate growth rather than focus on inflation has already helped push down the value of Britain's currency, a help for exporters, said Rob Wood, an economist at Berenberg Bank in London.

"Without even taking over yet, he has therefore managed to improve the UK growth outlook," Wood said

http://uk.reuters.com/article/2013/02/07/uk-britain-economy-carney-idUKBRE91600C20130207

[krallicious]

Digga said:

http://uk.reuters.com/article/2013/02/07/uk-britai...

Considering he is a few months away from taking up his post, I'm surprised the currency markets are already responding to what he might do. I know he has a track record in Canada but is the same going to work here? Selfish I know, but couldn't they wait for a few more weeks?