I am intrigued that baily – not exactly a 100 watt shining lightbulb of central banking – would appoint himself leader / spokesman “for central banks now is what they must do” to … blablabla (ref post below)
1:39 GVI Forex / back to square one
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I dont think so. Inflation fight not going according to hope (ie. confidently towards his 2% trgt).
So what is he to do now: try to move the goalposts by reminding players of his earlier “average 2% over time” ?
I am perplexed at how jerome is able to get himself into a pickle with his yik-yak.
earlier bailey
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LONDON, March 12 (Reuters) -Bank of England Governor Andrew Bailey said on Tuesday that the main question for central banks now is what they must do to get inflation to stay at target levels and how restrictive rates will need to be.
“The question for us now, as central banks, is actually what will it take to get it to stay at our 2% target on a sustained basis? That’s the key,” Bailey said during a panel discussion organised by the Bank of Italy.
“This whole question about restrictiveness and the question of restrictive relative to what … I think is now key.”
The BoE last month held interest rates at their highest since 2008 but said it was putting borrowing costs under review as it forecast inflation would fall to its 2% target in the April-to-June period.
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10-yr 4.155%
top of hour yellen’s USD39 Bln 10-Year peddling
Monege, when we first created the Forex Forum there were no threads or bulletin boards. Our design was based on recreating the old bank dealing room where traders in the room were constantly quoting two-way prices to other banks. So, it was important to let the other trades know when a foreign bank traded on your price. There were no screens or electronic trading so you always shaded the market based on your position and view. It was hairy trading but a lot of fun. True market makers, not like today.
This was (and still is) the design of our Forex Forum where we look to exchange information for the benefit of all.
There are times we are considering what would amount to an incorrect move and the team here will let you know they think you are making a mistake. The team here has prevented me from doing so more than once. The best of us have struggles, the team counts.
Bobby, a long time ago I was trading currencies out of a firm called Tokyo International in San Francisco. They were largely Elliot Wave carefully gave us room to use something if it worked and they had gained trust in you. There was a lot of yelling and throwing things at the office walls lol. Highly competitive, like a sports team. At the end of the day we all went to Japan town or an expensive restaurant in the financial district and made up, so we could live to fight another day together. It was ok to get arub on the head for a courageous day, but we tempered it inevitably. Everyone is under pressure doing what we do. I learned to shout across the room when you see a setup, like JP’s head and shoulders view.
I like the discourse. Currency traders have a lot of spirit. In the spirit of viewing cross currencies, I am very dialed in on GbpChf this week and believe the hard sell to the 1170 area on the data did not compromise the average true range of the bigger picture and see decent probabilities for the pair to search for fair value back toward 1250. That would transfer to other Sterling pairs of course. So the plan for me today was to close everything last night and hope for a failed downward strike, which we got this time. So I am looking for the pair to run out of gas a bit higher than current market.
maybe get on with technological times and offer kitchen sink: hand clapping, applause, cheer etc for the isolated lonely hearts to help with engaging in social interaction with faceless “friends”
why not instead add something constructive of trading value to a post’s theme that you “like” or do you really need an opp to express a personal emotion of approval – as if it matters to someone on the forum ?
