Today the “clever desks” will be deciding whether this budget is real or not

Today the “clever desks” will be deciding whether this budget is real or not

It usually takes 24 hours or so for the markets to absorb and analyse the budget. Today the “clever desks” will be deciding whether this budget is real or not as in, is it a political budget, a real budget or one that is awaiting Brexit where another will be required? As it stands it has been well received by many but will it be short lived..?

I am still not going to “buy” the Pound or indeed the Euro for the time being. My views remain the same with ultimate targets for Cable and Euro$ being 1.2000 with a potential bounce at 1.2100 and 1.0500 for Euro$.

This isn’t going to happen overnight of course but that’s where I reckon we go in the long run.

Keep it tight.

Enter your e-mail address to receive updates straight to your inbox

My Newsletter

You can easily unsubscribe at any time by clicking on the unsubscribe links at the bottom of each of our emails
Categories: Guest Writers, News, Viewpoint

About Author

Clive Arneil

Clive Arneil worked for major brokers for over 20 years trading most instruments in the Foreign Exchange markets as well as Derivatives. Brokered deals on behalf of some of the worlds largest banks including Barclays, Citibank, UBS, Nat West and the Bank of England. Worked mainly in the UK but also in Switzerland, Germany and the U.S. Retired from the Money Market at the age of 40 and worked as a financial data feed specialist supplying market data to Banks, Brokers and Spread-Betting companies. Still trading and teaching people the skills required to master today’s volatile markets.