This was a weird number this, as we had quite a big beat, yet Short Sterling went up! And quite hard to the upside too, and while trying to fade the move, had to bail out at the end, for the fade to eventually happen!
It seems this move was due to the unemployment rate which was still at 7.7%, so it seems that this is the number to focus on as far as Short Sterling is concerned.
Cable had a pop up then quick fade, but as usual the number seems to have been leaked, as you can see below. We had a 35 tick push up in cable where as in the same time the Euro moved up 5 ticks, so happy days for some!
In other news, markets are still awaiting a resolution to the US Gov Shutdown and debt ceiling, which will be resolved tonight or tomorrow as this is the deadline, which is in theme with the usual last minute deal. It would all just be easier if they can do this at the beginning, but it is likely that the extension will be till FEB and so we will go through all this again!
It seems this move was due to the unemployment rate which was still at 7.7%, so it seems that this is the number to focus on as far as Short Sterling is concerned.
Cable had a pop up then quick fade, but as usual the number seems to have been leaked, as you can see below. We had a 35 tick push up in cable where as in the same time the Euro moved up 5 ticks, so happy days for some!
In other news, markets are still awaiting a resolution to the US Gov Shutdown and debt ceiling, which will be resolved tonight or tomorrow as this is the deadline, which is in theme with the usual last minute deal. It would all just be easier if they can do this at the beginning, but it is likely that the extension will be till FEB and so we will go through all this again!
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