Jump to content
Login with your Gmail HERE and start posting in seconds! ×
Don't just read! Be part of the Community! Join the conversation ×

GBP to THB Exchange Rate

15Peter20
 Share

Recommended Posts


  • Replies 2.3k
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Popular Days

Posted Images

chiang mai Star Member

chiang mai

Posted
Posted

Two events will determine that, the first was just anounced which was negative and that was that the UK public finances have gone into deficit in July to the tune of half a billion Pounds, that information will be Pound negative on the Forex so we should see the Pound weaken as a result.

The second piece of information due later today is the release of the US Feds minutes on QE, that will be the bigee that will determine direction I would imagine.

Link to comment
Share on other sites
Huayrat Silver Member

Huayrat

Posted
Posted

They make billions in tax in 1 day so I don't think 60 million will change a thing.. It's like you or I losing 1 baht in the street

Link to comment
Share on other sites
AnotherOneAmerican Ruby Member

AnotherOneAmerican

Posted
Posted

Two events will determine that, the first was just anounced which was negative and that was that the UK public finances have gone into deficit in July to the tune of half a billion Pounds, that information will be Pound negative on the Forex so we should see the Pound weaken as a result.

The second piece of information due later today is the release of the US Feds minutes on QE, that will be the bigee that will determine direction I would imagine.

49.9 now, victory dance ready!

Link to comment
Share on other sites
mccw Platinum Member

mccw

Posted
Posted

I thought the deficit was permanent anyway and no surplus had happened for decade or likely to come again any time soon. Has the telegraph made an error? All I get from above links is a "live feed" couple sentences.

Quick wider search on "uk deficit" brought me this:

http://www.debtbombshell.com/britains-budget-deficit.htm

http://www.tradingeconomics.com/united-kingdom/balance-of-trade

And:

""Gross debt at the end of 2012 stood at £1.387trillion, up 7% on 2011

Vast sum is equivalent to 90% of GDP - up from38% a decade ago

""

http://www.dailymail.co.uk/news/article-2303345/Britains-debt-mountain-reaches-1-39TRILLION-equivalent-90-entire-economy-ONS-reveals.html#ixzz2cc6y2OjC

Follow us: @MailOnline on Twitter | DailyMail on Facebook

And then here is what I agree with for the non mainstream view of what is really going on:

"""The bottom line is that QQE means that UK REAL Debt to GDP Burden is currently at approx 40% of GDP and is expected to only rise to 43% by March 2016 by virtue of the effective cancellation of approx £600 billion or 40% of outstanding government debt. The consequences of the government spending money which is not backed by either economic activity or market mechanisms (interest rates) is highly Inflationary as it amounts to a continuous trend for the debasement of currency, which is what governments of all political parties engage in regardless of differing ideologies. I.e. The Tories use high debt to gdp ratios to warn of the need for economic austerity to cut the public sector and benefits. Whilst Labour use high debt to gdp as an Keynesian excuse to expand the size of the economy through the public sector (implying debt to GDP will fall), both ideologies actions are motivated by attempting to buy votes."""

Read the whole thing for a trip down the rabbit hole:

http://www.marketoracle.co.uk/Article37845.html

^Spot on I think- u?

Link to comment
Share on other sites
mccw Platinum Member

mccw

Posted
Posted

This from sky news clarifies the reporting confusion:

""Official figures have revealed a surprise deficit in the UK's finances for July as the Government struggles to rein in spending.

The Office for National Statistics (ONS) showed a £62m shortfall for July this year, compared to a £823m surplus in the same month of 2012.

An increase in central government spending outstripped a rise in tax receipts - a blow during a month when the state is typically in the black because of company tax payments.

It is the first time there has been net borrowing in July since 2010.

Public sector net debt as a proportion of the UK's gross domestic product (GDP) also hit a record for July at 74.5%.

Once a transfer of around £400m for quantitative easing (QE) cash was included, public sector net borrowing was £885m higher than a year earlier.

The ONS said higher central government spending was spread across departments and that the Treasury expects the figure to be revised down in the coming months.

The Office for Budget Responsibility (OBR) expects the deficit to come in at around £120bn for the year to the end of next March, up on last year's £116.5bn.

Total tax receipts excluding QE cash were 3.4% higher year-on-year at £54.1bn in July, helped by increases in VAT sales tax, income tax, National Insurance contributions and stamp duty on home purchases.

But corporation tax receipts dipped to £7bn from £7.1bn a year earlier, despite increasing signs of growth in the economy.

Central government spending rose by 4% to £51.2bn."""

So deficit is up on a yearly basis and the miss to the red was only one month specific because of anomaly of company receipts.

Confirmed^Spending up, not down - despite all the "propaganda" - as the market oracle puts it.

Link to comment
Share on other sites
Constantinople Rookie Member

Constantinople

Posted
Posted

Two events will determine that, the first was just anounced which was negative and that was that the UK public finances have gone into deficit in July to the tune of half a billion Pounds, that information will be Pound negative on the Forex so we should see the Pound weaken as a result.

The second piece of information due later today is the release of the US Feds minutes on QE, that will be the bigee that will determine direction I would imagine.

49.9 now, victory dance ready!

tumblr_mklio2dBbz1s84wxoo1_250.gif

Link to comment
Share on other sites
chiang mai Star Member

chiang mai

Posted
Posted

Two events will determine that, the first was just anounced which was negative and that was that the UK public finances have gone into deficit in July to the tune of half a billion Pounds, that information will be Pound negative on the Forex so we should see the Pound weaken as a result.

The second piece of information due later today is the release of the US Feds minutes on QE, that will be the bigee that will determine direction I would imagine.

49.9 now, victory dance ready!

tumblr_mklio2dBbz1s84wxoo1_250.gif

Could be, or it might be the first one here:

Link to comment
Share on other sites
mccw Platinum Member

mccw

Posted
Posted

Brits beware:

""""An unpaid credit card bill worth 1,000 pounds is now enough for a UK lender to go to court, forcing debtors to sell their property. A recent regulation puts tens of thousands of British homeowners at risk of losing their houses.

Frankie Waller, an owner of a modest London dwelling, might well soon lose the place holding memories of the last 20 years of his life. September court hearings will decide if he can keep his home or will have to sell it to repay 6,000 pounds of credit card debts he has run up.

Nobody asked me or twisted my arm to take out the credit. Thats my doing entirely, Waller confessed to RTs Polly Boyko. But the word unsecured was attached to it.

That key word unsecured is supposed to mean the loan is not attached to any of your assets. However, as of October 2012 the rules of the lending game have been changed by a government regulation, making it easier to turn unsecured debt into secured. That means failure to pay it off puts borrowers at risk of losing their homes.

A creditor has been given the right to apply to court for a charging order, forcing the debtor to sell his property. As of April, accumulating a debt of just 1,000 pounds is enough for the un prefix to disappear from your unsecured loan.

Edward Ware from Step Change Debt Charity, which is trying to help those with serious debt problems, believes the regulation makes too many homeowners vulnerable.

We wanted that threshold set at 25,000 pounds because we wanted that extra layer of consumer protection. The government have [sic] made it easier for lenders to get charging orders, Ware told RT.

Britains Office for Fair Trading has already warned major banks over threatening to force debtors to sell their homes over debts of just over 1000 pounds. """""

Link to comment
Share on other sites
chiang mai Star Member

chiang mai

Posted
Posted

CM should join Bank Of England, they like to talk the pound down too.

It's difficult to be Pound positive when the fundamentals are what they are and you wake up and read stories like this every morning:

http://www.telegraph.co.uk/finance/economics/10258078/More-QE-could-be-needed-says-MPC-hawk-Martin-Weale.html

Link to comment
Share on other sites
Bluemoon66 Rookie Member

Bluemoon66

Posted
Posted

It's difficult to be Pound positive when the fundamentals are what they are and you wake up and read stories like this every morning:

http://www.telegraph.co.uk/finance/economics/10258078/More-QE-could-be-needed-says-MPC-hawk-Martin-Weale.html

I agree CM - there's nothing positive in the market that would warrent an upward trend in GBP against all major currencies.

That's why it's better just to publish the facts and let people make up their own minds.

Link to comment
Share on other sites
Guest
This topic is now closed to further replies.
 Share
Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.








×
×
  • Create New...
""