Sterling Commentary for 19-Nov-08

 

Sterling Commentary provided by GCI Financial, Ltd.:
Tables & Charts

The British pound moved higher vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5090 level and was supported around the $1.4935 level. Data released in the U.K. today saw consumer price inflation decline in October at its fastest pace since at least 1997. CPI growth decelerated to 4.5% y/y from 5.2% y/y in September, representing its lowest level since July and off 0.2% m/m. Core inflation fell to 1.9% y/y from 2.2% y/y in September. Short sterling interest rate futures are pricing in additional easing by Bank of England’s Monetary Policy...continued 

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

Instrument

Current

 Points % Date Value Date Value
Exchange Rates

19-Nov-08
EUR/GBP Fwd-1 Yr This marker indicates the current chart. 16.0000 0.0000 0.00% 11-Apr-08 446.0000 11-Nov-08 2.0000
GBP/AUD This marker indicates the current chart. 2.3101 -0.0076 -0.33% 10-Oct-08 2.6302 19-May-08 2.0370
GBP/CAD This marker indicates the current chart. 1.8414 0.0004 0.02% 4-Dec-07 2.0835 13-Nov-08 1.8026
GBP/CHF This marker indicates the current chart. 1.7983 0.0043 0.24% 13-Dec-07 2.3293 13-Nov-08 1.7613
GBP/EUR This marker indicates the current chart. 1.1851 -0.0030 -0.25% 3-Dec-07 1.4081 13-Nov-08 1.1650
GBP/JPY This marker indicates the current chart. 144.3000 -0.4100 -0.28% 13-Dec-07 229.4000 12-Nov-08 142.4600
GBP/USD Fwd-1 Yr This marker indicates the current chart. -31.0000 0.0000 0.00% 13-Nov-08 -18.7000 14-Mar-08 -619.0000
USD/GBP This marker indicates the current chart. 0.6689 0.0015 0.22% 14-Nov-08 0.6779 28-Nov-07 0.4816
 
Interest Rates

19-Nov-08
USD 3M LIBOR This marker indicates the current chart. 2.2170% -0.0220% -0.99% 5-Dec-07 5.1510% 12-Nov-08 2.1320%
 
Indices

19-Nov-08
NASDAQ This marker indicates the current chart. 1,483.27 1.22 0.08% 26-Dec-07 2,724.41 17-Nov-08 1,482.05
 

source: DTN Market Access

part 1...Committee over the coming months. Chancellor of the Exchequer Darling reported the government will continue to purchasing shares at discounted prices in companies that participate in its recapitalization scheme. Cable bids are cited around the US$ 1.4315 level. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the £0.8355 level and was capped around the £0.8450 level.

SUPPORT   RESISTANCE

 
L1.       1.5065 1.6435 
L2.       1.4580 1.7150
L3.       1.4155 1.7725

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