FX Trading - Absolutely Curtains

It's a beautiful sunny day out, and markets seem to have brightened up from Tuesday. None of that nervousness was evident as commodities steadied, equities put in a bit of gains and currencies were busy napping. 

Big red bars on the dailies have put a damper on the likes of GBPUSD and AUDUSD, but EURUSD remains in the lead. Apparently huge interest at 1.6225 is keeping a floor on cable, and we may be looking at a range with a bottom circa this level and top at recent highs ard 1.6440, while EURUSD looks like a buy at any level.

China has offered Spain a helping hand, playing its new global role as lender of last resort, and was said to be the driver behind EUR gains yesterday. Buying today in early Europe through BIS was also said to be from the Chinese.

UK jobless numbers are due later; it would be interesting to see if there's a leak today like there was for the CPI on Tuesday, something the UK Office of National Statistics said they were aware of and are investigating. What about the rally last week 2 minutes before the release of services data, i wonder. 

Anyway, while searching for rate news, i came across this piece from the Telegraph:

'Experts warn that unless we undergo a “radical cultural change”, Britain will slide into unprecedented depths of despair blighted by rising rates of suicide and depression.

A group of eminent British thinkers from the worlds of education, economics and politics – backed by the Dalai Lama – yesterday launched a campaign to halt the nation’s psychological decline.

Action for Happiness, a mass movement to promote mental wellbeing, calls on people to address 10 key deficiencies in their lives to counter our growing gloom.'

Explains the retail sales numbers yesterday, now when's the next consumer confidence release?

Peace