Unprecedented as expected!
— European parliamentary election start next week.
— June is the month ECB wants to start cutting rates.
GBP looks strong till now; June is a month that should present us lots of volatility, and more volatility means careful trades.
Investors and financial markets will be very surprised – and not at all happy – should Thursday’s ECB announcement not include the first cut in key interest rates since September 2019.
I’ve got a short on GBPJPY for the longest time. Finally, another drop. Following along!
ECB cuts rates even as inflation fight goes on
FRANKFURT (Reuters) -The European Central Bank went ahead with its first interest rate cut since 2019 on Thursday, citing progress in tackling inflation even as it acknowledged the fight was far from over.
— UK unemployment rises by 138,000 as labour market weakens: Resolution point out that the UK unemployment rate has increased for four months in a row – from 3.8% in the last quarter of 2023, to 4.4% in the three months to April 2024 – an increase of 190,000 people out of work.
— “This ‘noise’ is not very meaningful, and hence we are still more ‘outlook driven’ and will look still more closely at the inflation forecast. We remain confident that barring an external shock, we will bring inflation back to our 2% target by next year, and that we will reach it with a soft rather than a hard landing.” Francois Villeroy, ECB Policymaker & Head of French CBank
People trading this pair will see how clumsy it’s been for the past few days now… but hopefully i found a pattern, who knows where it headed on breaking structure.
It’s almost a month since i traded, reason being i couldnt find a reliable setup. This months has been hell of a volatility.
It’s really a month of decisions; as decisions were being made in the various elections, so also was i being careful with my very decision here on the screen.
July is just halfway through, and hopefully more coming through…
To those trading this very pair, how has your trading being going so far? And to non-traders of this very pair, do you experience a break like this with your pair? If yes, how do you react to the situation.
The two state solution already happened though… it’s Isreal and Jordon… those are the Two states.
The Arabs that migrate to Palestine came from the North they were kick out of a country because they cause a rebellion. I don’t remember the country but I read about it
BOE has lowered interest rates for the first time in 4yrs by 25bp
The Bank of England has cut interest rates for the first time since the onset of the COVID-19 pandemic in early 2020. In a statement Thursday, the bank said that by a 5-4 margin, its nine-member policymaking panel backed a quarter-point reduction in its main interest rate to 5%, from the 16-year of 5.25%. Economists were divided as to whether the bank, which is independent of government, would cut rates given persistent price pressures in the services sector, which accounts for around 80% of the British economy. Yet inflation in the U.K overall has already hit the bank’s target of 2%.
Upon news of BOE interest rate cut, its first in four years… putting us EURGBP traders on a good edge to trade. 
Now is the time to get back on track; two supply zones are easily identifiable from the chart screen, two key areas to watch out for as to whether EUR will maintain its strength or give in to Sterling. One thing is evident, BOE always make the best decision when it comes to running its economy, to tell us EUR might not be able to keep this bull reversal for long…
Yes, my momentum indicator had been hovering around 70rsi for some days now, looking forward to what this could mean for us.
I agree with you, but let’s not forget that the Palestinians were offered a two-state solution back in the 1940’s, and they declined it, then. Now that some of them have turned into truly appalling terrorists, that might perhaps reduce rather than increasing the probability of their being offered it again (or at the very least, make it far more difficult)?
Still, I do agree with you.
Have been looking fwd this past 3 months - time for EG to waken from the slumber methinks.
@vietni & @Heteroskedasticity PLEASE READ CAREFULLY!
Yes Palestinians were offered a two-state solution but was declined. The question is, was this declination justifiable? This question can’t be straightforwardly answered due to extreme political reasons, but taking through the eye of a common diplomacy, let’s see to this together…
All the Ottoman territories under United Kingdom were granted independence but Palestine… One thing is sure evident from these free states, they were all Jewished.
The Balfour Declaration of 1917 to turn Palestine into a national home for the Jewish people led to the failure of Palestine getting recognised.
You can’t always maneuver everyone into accepting false identities as evident in some places today, take my country as a case study — Nigeria.
I’m from this west side of Nigeria whereby our identity is quite different from those we claim to be one with… Before the amalgamation of Nigeria, the Yoruba entity (where am from) were never friends with the Hausa entities; it’s always being a hell-story of wars and prejudice.
What led to the union of these two was that, the Southern Protectorate which my side (Yoruba) happens to be an ally were merged with the Northern Protectorate because the northern side were landlocked making trades more difficult and much expensive unlike the south… since these two procs. were under one rule, they got merge in the interest of United Kingdom.
This very one decision in the interest of United Kingdom and the negligence of our founding fathers to turn the offer down has contributed immense harm till date in our very democracy…
This is the first part.
Warm regards,
Ayo
Now as to what led to the turning down of the two-state solution. The idea of the United Nation was bringing the Jews and Arabs into common terms together.
Don’t forget, from the very first part the Arabs were excluded from the diplomacy.
Uptil now, i still don’t understand the interference of the West in the Arabs business which is hidden under extremism — maybe the world needs to know Arabs doesn’t necessarily mean Islam.
The fight which began from the very viewpoint of identity has turned to extremist rage, all thanks to the western media.
Maybe you might have to look this up for yourself, “are the Hamas really terrorist?”
If Palestinians have been clamouring for self-determination all these years, why is Israel interfering into their affairs? Does Israel interference or ties with the UN meant the best interests for the Palestinians diplomacy or in extending its Jewish order in the land thereby presenting pro-Palestinians terrorists?
We all see what happened with Gaza except we trying to turn blind eye. Why has Gaza not been resolved after sovereign claim from Israel?
Or is it Israel’s gain of some territory formerly granted to Palestinian Arabs under the United Nations resolution in 1947 we should talk about?
Milestones in the History of U.S. Foreign Relations - Office of the Historian.
And the very bigger question, why Israel?
@vietni & @Heteroskedasticity
Concluding part.
Best regards,
Ayọ
Now recall this:
I believe August should present us with lot of opportunities, unlike the previous month.
