Sterling Digest: January 27, 2012
- Posted by: faithmight, January 27th, 2012 at 5:05 pm
- Comments: 0
Contrasting GDP outlooks this week prove this market is nuts
GDP numbers from both the UK and the US were released this week. The British economy slipped into recession while the US economy actually grew 2.8% in the same quarter. Such a contrast in economies in normal market conditions would have set the $GBPUSD to break down. However, the markets have been anything but “normal” since 2008. So here we are in the midst of a $GBPUSD bull rally that has gone on for 10 consecutive trading sessions. It’s been incredible. While the $GBPUSD is certainly capable of such moves (anything can happen the markets, right), we haven’t seen a move like this in quite some time. While price never moves in one direction forever, it is understandably hard to step in front of this freight train.
Have a great weekend cable bulls. You’ve certainly earned it.
- Economy Grows Just 1.7% In 2011. What Now? (The Basis Point)
- Dollar Falls on Fed, Potential Greek Debt Deal (Credit Writedowns)
- USD Losing Reserve Currency Status: A Timeline (Seeking Alpha)
- UK: Into Recession (EconoMonitor)
- Osborne needs to come up with radical growth policies, and soon (Coffee House)
- BOE Miles: “Presumptuous” To Assume More QE In Feb (Forex Live)
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Lydia Idem has been investing in equities for 16 years and trading currencies actively for 5 and a half years. Her trading style is simple and short term. With a special feel for sterling, Lydia trades almost exclusively the GBPUSD and EURGBP. You can follow Lydia on Twitter and StockTwits... (more) -
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