Sterling Commentary for 20-Nov-09

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Sterling Commentary provided by GCI Financial Ltd:
Tables & Charts

The British pound came off sharply vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.6460 level and was capped around the $1.6675 level. Bank of England’s next Monetary Policy Committee interest rate decision will be released on 3 December and rate-setters are expected to keep interest rates unchanged with the main Bank Rate at 0.50%. Bank of England Monetary Policy Committee member Fisher yesterday warned the central bank “may well not” be able to reduce its bloated balance sheet to pre-crisis levels. Fisher also said “all options will be open” when the central bank next considers its asset purchase program in February. The central bank today warned consumer credit will remain weak over the coming months. Cable bids are cited around the US$ 1.6430 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the £0.9010 level and was supported around the £0.8945 level.

SCHEDULE

Friday, 20 November 2009

all times GMT

(last release in parentheses)

N/A Japan October...continued 

Sterling Focus
 
Day's Change 52-Week High 52-Week Low

Instrument

Current

 Points % Date Value Date Value
Exchange Rates

20-Nov-09
EUR/GBP Fwd-1 Yr This marker indicates the current chart. 1.0000 0.0000 0.00% 12-Mar-09 2,249.0000 2-Feb-09 -198.6960
GBP/AUD This marker indicates the current chart. 1.8084 -0.0006 -0.03% 20-Nov-08 2.3903 14-Oct-09 1.7406
GBP/CAD This marker indicates the current chart. 1.7648 -0.0051 -0.29% 29-Jun-09 1.9218 12-Oct-09 1.6353
GBP/CHF This marker indicates the current chart. 1.6809 -0.0064 -0.38% 27-Nov-08 1.8477 29-Dec-08 1.5254
GBP/EUR This marker indicates the current chart. 1.1120 -0.0047 -0.42% 28-Nov-08 1.1965 30-Dec-08 1.0250
GBP/JPY This marker indicates the current chart. 146.8600 -1.2300 -0.84% 7-Aug-09 162.7200 23-Jan-09 121.5300
GBP/USD Fwd-1 Yr This marker indicates the current chart. -55.0000 0.0000 0.00% 10-Mar-09 70.2000 11-Jan-09 -68.8000
USD/GBP This marker indicates the current chart. 0.6047 0.0044 0.72% 23-Jan-09 0.7306 5-Aug-09 0.5892
 
Interest Rates

20-Nov-09
USD 3M LIBOR This marker indicates the current chart. 0.2700% 0.0030% 1.11% 1-Dec-08 2.2200% 19-Nov-09 0.2670%
 
Indices

20-Nov-09
NASDAQ This marker indicates the current chart. 2,156.82 -36.32 -1.68% 17-Nov-09 2,203.78 9-Mar-09 1,268.64
 

source: DTN Market Access

part 1...Tokyo-area department store sales (-10.5% y/y)

N/A Japan October department store sales (-7.8% y/y)

N/A Japan Bank of Japan Policy Board interest rate decision

0200 NZ October credit card spending

0700 Japan October convenience store sales (-5.6% y/y)

0700 Germany October producer prices (-0.5% m/m)

0700 Germany October producer prices (-7.6% y/y)

0900 Italy September industrial sales

0900 Italy September industrial orders

DISCLAIMER: GCI’s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

SUPPORT   RESISTANCE

 
L1.       1.6115 1.6685 
L2.       1.5720 1.6830 
L3.       1.5405 1.7040

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