Brexit: the referendum

Foyle overwhelmingly remain. Norn Iron will be majority remain I suspect.

This still isn't making me any happier.
 
ComfySlippers said:
And, for people pretending to be "monitoring the market"... ,(as I'm awaiting my ban), with all due respect... **** off. There is a popular board game children have been playing for many years, based upon pretending to to be financially astute.
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In that game you have to wait for your turn to come around : in the markets everybody plays at the same time. Well, within micro-seconds.

What this movement confirms is that market-makers really believe that the UK's finances will suffer from an exit, and that sterling will take the strain.
 
ComfySlippers said:
Not wanting to point out the bleeding obvious, or to turn this into a Rolfe/SNP blog, accusations of BBC bias in reporting are infinitely and, laughably untrue.

Every person on this planet can watch, now, to verify this fact.

And, for people pretending to be "monitoring the market"... ,(as I'm awaiting my ban), with all due respect... **** off. There is a popular board game children have been playing for many years, based upon pretending to to be financially astute.

/MonacleOFF
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I fully agree that micro-monitoring the market is both futile and (without any privileged information not available to the market in general) pretty random.

But forex (for example) follows trends that definitely are linked to more solid determinant factors (just as analysis of FTSE 100, for example, is a fairly reliable indicator of the UK's underlying economic performance on a trend-analysis basis).

Look at these two graphs. The first is for USD/GBP over the past week, and the second is for USD/GBP over the course of the past 12 hours:

http://www.xe.com/currencycharts/?from=GBP&to=USD&view=1W

http://www.xe.com/currencycharts/?from=GBP&to=USD&view=12h

You will notice from the 1-week chart that from a baseline last Fri/Sat/Sun of around 1.435, there was a very clear trend from Mon-Thur up to around the 1.480 level. And on the 12-hour chart you can clearly see a spike up to about 1.500 that took place between around 6pm yesterday (Thursday) UK time to just beyond midnight UK time. The news from Newcastle and Sunderland brought Sterling down to its current level of around 1.489.

So all that's happened is that there's been a correction from the 6pm-12.30am spike. The current level of Sterling is in fact totally in line with the significantly rising trend that's taken place over the past week, as the markets have become more and more confident in a "Remain" outcome.

I see, interestingly, the the BBC very mischievously showed a graph with the "sharp drop in the pound", with the x and y axes nicely calibrated to show a huge vertiginous drop right down the whole y-axis scale. Utterly misleading when one cannot see a proper scale, nor the proper context of the weekly (and daily) trend.
 
LondonJohn;11348783[/I said:
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I see, interestingly, the the BBC very mischievously showed a graph with the "sharp drop in the pound", with the x and y axes nicely calibrated to show a huge vertiginous drop right down the whole y-axis scale. Utterly misleading when one cannot see a proper scale, nor the proper context of the weekly (and daily) trend.
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They also showed graphs of the £ being the strongest, as at 21:45, than it had been since January.
 
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