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Mar 12th 2007
Would have been a good trade if you’re trading the news; If I was in front of my terminal (Hell it’s demo still!)
The PPI figures turn out to be better than forecasted,
*(UK) FEB PPI OUTPUT CORE: MOM 0.5% V 0.2%E; YOY 2.7% V 2.3%E
- M/M highest since October of 2004
- Y/Y highest since November of 2004
- Prior YoY revised to 2.4% from 2.2%
*(UK) FEB PPI INPUT: MOM 1.3% V 0.7%E; YOY -1.1% V -0.8%E
- Prior MoM revised from -2.0% to -2.5%
- Prior YoY revised from -1.6% to -2.1%
*(UK) FEB PPI OUTPUT: MOM 0.3% V 0.2%E; YOY 2.2% V 2.1%E
- Prior MoM revised to 0.4% from 0.3%
- Prior YoY revised to 2.2% from 2.1%
The pound was bullish as expected and went on breaking the resistance at 1.9384 to cross the 200EMA level on the 1hr and form new support at 1.9415
Good day for both fundamental and technical traders I guess.
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