RBA leaves rates unchanged citing growth uncertainty in Europe and US, Growth worries in UK ahead of construction PMI, Eurozone PPI expected to slip back and ease pressure for higher rates as ECB meets this week. US House passes debt ceiling bill

This mornings decision by the Reserve Bank of Australia to leave rates unchanged at 4.75% wasnt too much of a surprise, even allowing for last weeks surprise rise in CPI. There has been some debate in recent weeks about the future direction of Australian interest rates, however the recent tightening in China along with some evidence of a slow down, amid uncertainty in Europe and the US has staid the RBAs hand.

The bank said that it remains concerned about the medium-term outlook for inflation and did consider whether recent information warranted further policy tightening, but given the fact that recent economic data has shown that downside risks for global growth has increased, it was felt prudent to leave rates as they were.

In the UK yesterday's July manufacturing PMI was a shocker, coming in at 49.1 and contracting for the first time since the recession in 2009, on the back of subdued domestic demand, even though export orders continue to remain strong. Today's July construction PMI should come in around 53.1, a slight decline from the 53.6 in June, but probably wont be enough to assuage concerns that the UK economy is starting to grind to a halt. Tomorrows services number will be the key number in that respect, given that services is the major contributor to UK GDP. As it is pressure is starting to build on the government to look at a plan B in light of yesterdays downgrading of 2011 growth forecasts by the CBI to 1.3% from 1.7%.

Pricing pressures in Europe could well start to ebb away despite last weeks slightly higher than expected German inflation numbers, with PPI prices for June expected to slip back slightly on a year on year basis from 6.2% to 5.9%. Given that Italian and Spanish 10 year yields are pushing the wrong side of the 6% level the last thing these countries need is a high inflation number given the ECBs almost one eyed gaze on suppressing higher prices with interest rate rises. This weeks ECB meeting will certainly be closely scrutinised for any mention of strong vigilance if todays numbers coming in on the high side.

Hi all,
lovely trade set up on EURJPY
Buy @ market price SL 100 pips TP 113.20
See chart attached.
Happy trading!
Meshach

Are we there?

odiaero:

Send me any stuff, and i will post it hear without being ban

Go and post things with money sign, $$ and all that and lets see.

honeric01:

Go and post things with money sign, $$ and all that and lets see.

Ok, here we go $500,000 

@honeric, u see say spambot dey fear me, cos i get him medicine

^^^^

Shey u be olodo ni? i said article with $$$ and all that kinda signs, didn't i also type $500,000? but go and type something long with dem $$$ constantly typed.

^^^^

Copy some articles and post it.

I have tried for 24 hours to update my monthly plan on MTN, to no avail. SO I have been unable to capitalize on the big moves.

That is why everytime they come up with one silly promo, it is like saying to us: "hey you know what, it is ok by us for you to suck our c--k, but open your mouth wider so we can ram it even deeper".

I hate those guys with a passion!

oh sorry bro. that's how multilinks dealt with me some days back and made me lose over 150pips on usd/chf, I wonder when these services would be stable.

stagger:

I have tried for 24 hours to update my monthly plan on MTN, to no avail. SO I have been unable to capitalize on the big moves.

That is why everytime they come up with one silly promo, it is like saying to us: "hey you know what, it is ok by us for you to suck our c--k, but open your mouth wider so we can ram it even deeper".

I hate those guys with a passion!

Get all the sims available, airtel, etisalat, mtn and glo, make sure you have extra airtime on them always, when any of them misbehave, just subscribe for the daily plan to avoid being short out of the market. i have etisalat, mtn, zain and even starcomms and i can switch to any at any time, my modem helps take care of them all.

Yes, I am thinking of cracking my modem for universal function. Enough of this rubbish from these guys.

@ stagger
load the sim and call customer care they'l fix it immediately.

At last. My internet is now back, just in time to meet Obama signing the debt control act of 2011. This Yen strenght everywhere may start to unwind.

2011/08/02 18:08:00 Fitch Maintains AAA Rating On U.S., Calls For Further Action

^^^^

I don't expect anything tangible in the market jor

Buying audusd now might not be a bad idea.

Are we there yer?

my objectives met in hrs on AUD/USD and EUR/AUD , who rode with me today?
happy pipping.

We are here and ready.

Here is a trade entry I took on GU yesterday after New York Close. It's based on the bullish hammer rejection of the daily support line. Follow me @ ur own peril.

^^^ seconded : happy pipping guys
GBP/USD
The British pound is stronger than expected, due to the strengthening of the US dollar these days. It was weakening yesterday but the long hammer-doji candlestick shows that there is a strong support around 1.62 and investors have not lost their faith in the GBP yet. A break-up of yesterday's high will be a bullish sign for the pound that will try to go back to 1.64. The cross of the 20 & 50 EMA's is a positive signal for the pound as well.

Hi all,
buy GBPUSD @ market price 1.6274 SL 100 pips TP 1.6390
Reasons:
(1) Average Daily Range exceeded
(2) London market close
(3) Degree 1 swing low formed on 1hr tf.

See chart attached.
Happy trading!
Meshach

The above written was posted here LIVE around London close on Monday. We just hit our TP and now I'm selling till 1.6200 with 100pip SL
See chart attached.
Happy trading!
Meshach

NB: @ Honeric, I am a trader with a difference. I hope time has told the whole story?

meshpips:

NB: @ Honeric, I am a trader with a difference. I hope time has told the whole story?

And what is this for?

honeric01:

And what is this for?

You go fear fear.

Those were your words.
Brother,

I SCARE FEAR!

Meshach.

and what is this for??, i will tell you: call his gsm , no vex bros.
, to whom it may concern, I think meshach is doing a good jab shaaa with those fractals.

Meshpip, you are a genius. I monitored your call on GU.