chiang mai Posted January 10, 2017 Share Posted January 10, 2017 Just now, KhunBENQ said: The bank TT rates as of this morning are between 42.77 to 43.02. Why argue about data that is easy available. https://daytodaydata.net/ When giving numbers specify as exactly where and when you found it and WHAT TYPE of rate you mean (cash/notes or TT, CC rates etc.). 42.00? is not a TT rate of yesterday or today in Thailand. I wrote, " UOB just pencilled in 42", the number 42 being indicative of the level and not a precise quote. I did not write 42.XX and therefore did not provide a precise quote. But most people understood that I'm certain, apart from the game players and baiters amongst us that is! Link to comment Share on other sites More sharing options...
KhunBENQ Posted January 10, 2017 Share Posted January 10, 2017 English is not my first language and I did not know (until now) what "pencilled in" means. Link to comment Share on other sites More sharing options...
chiang mai Posted January 10, 2017 Share Posted January 10, 2017 2 minutes ago, KhunBENQ said: English is not my first language and I did not know (until now) what "pencilled in" means. No problem, for the avoidance of doubt it means "tentatively" or "at this stage it's our best estimate but subject to revision". Link to comment Share on other sites More sharing options...
ubonjoe Posted January 10, 2017 Share Posted January 10, 2017 Five posts that were just back and forth bickering between 2 members have been removed. Time to end it. Link to comment Share on other sites More sharing options...
al007 Posted January 10, 2017 Share Posted January 10, 2017 As a retired Chartered Accountant I can advise you with certainty how to know where the Thai Batt vs the Pound Sterling is going to be, at any stage in the future This is as scientific as the very best forecast Buy a crystal ball, of course bigger is better , then get a black sheet, cover the ball and ask the operator for the answer,, it does depend on the operator, and this is critical, bar girls tend to be unreliable This is as good and as reliable as the best of forecasts, and does not cost a lot Happy Ball Gazing Link to comment Share on other sites More sharing options...
meatboy Posted January 11, 2017 Share Posted January 11, 2017 On 10/1/2560 at 9:07 AM, meatboy said: looks like the B.O.T.has read this,the pound is down 50satang on the first round. TT RATE 42.76.yesterdays close 43.26. yesterday 10th.there was not much going on although scb.bank showed 9rounds 8am-5pm.lowest TT.42.66-close at 42.77. first round today 8am.-42.80. Link to comment Share on other sites More sharing options...
chiang mai Posted January 12, 2017 Share Posted January 12, 2017 There's a great article here which looks at the worlds currencies and concludes that it's politics and not economics that is driving the worst performing currencies, including the Pound. The very strong message is that once the politics have resolved, those currencies will surge: https://www.bloomberg.com/news/articles/2017-01-11/the-three-worst-currencies-of-2017-show-that-politics-not-economics-are-driving-markets Link to comment Share on other sites More sharing options...
chiang mai Posted January 15, 2017 Share Posted January 15, 2017 A couple of UK news paper reports this morning (Sunday) that May will make, (or May may make) a major policy speech on Tuesday regarding Brexit and the threat of hard Brexit seems to be the headline. Whether true or not who knows but expect markets to beat up on the Pound between now and then and if true, expect the Pound to dip substantially. Link to comment Share on other sites More sharing options...
chiang mai Posted January 16, 2017 Share Posted January 16, 2017 (edited) 22 hours ago, chiang mai said: A couple of UK news paper reports this morning (Sunday) that May will make, (or May may make) a major policy speech on Tuesday regarding Brexit and the threat of hard Brexit seems to be the headline. Whether true or not who knows but expect markets to beat up on the Pound between now and then and if true, expect the Pound to dip substantially. The newspapers are full of this one and the Pound/Dollar has fallen below 1.19, not good, I expect the Pound/Baht to be under 41.XX at open. And whilst it may all be politics at this stage, at some point that has to firmly translate into an economic reality that will remain. http://www.independent.co.uk/news/business/pound-sterling-euro-dollar-currency-exchange-theresa-may-hard-brexit-a7528866.html Edited January 16, 2017 by chiang mai Link to comment Share on other sites More sharing options...
chiang mai Posted January 16, 2017 Share Posted January 16, 2017 UOB showing GBP/THB at 41.67 for notes: https://daytodaydata.net/ Link to comment Share on other sites More sharing options...
meatboy Posted January 16, 2017 Share Posted January 16, 2017 1 hour ago, chiang mai said: UOB showing GBP/THB at 41.67 for notes: https://daytodaydata.net/ scb TT rate 42.15 notes 41.67 so whats gone on over the weekend fridays close of play TT 42.71. Link to comment Share on other sites More sharing options...
chiang mai Posted January 16, 2017 Share Posted January 16, 2017 22 minutes ago, meatboy said: scb TT rate 42.15 notes 41.67 so whats gone on over the weekend fridays close of play TT 42.71. Posts 128 and 129 above explain Link to comment Share on other sites More sharing options...
meatboy Posted January 16, 2017 Share Posted January 16, 2017 10 minutes ago, chiang mai said: Posts 128 and 129 above explain i DONT want to read anymore. Link to comment Share on other sites More sharing options...
alfieconn Posted January 16, 2017 Share Posted January 16, 2017 2 hours ago, chiang mai said: UOB showing GBP/THB at 41.67 for notes: https://daytodaydata.net/ My forex company showing GBP/THB 42.4068 Link to comment Share on other sites More sharing options...
meatboy Posted January 18, 2017 Share Posted January 18, 2017 On 16/1/2560 at 10:11 AM, chiang mai said: PLEASE EXPLAIN. encouraging news from the uk. GBP raises 2% tues close of play. wed.opens 43.13 thats up a fair satang. all day it goes down close of play 42.94 down 19satang. WHO'S SHAFTING WHO. Link to comment Share on other sites More sharing options...
chiang mai Posted January 19, 2017 Share Posted January 19, 2017 1 hour ago, meatboy said: PLEASE EXPLAIN. encouraging news from the uk. GBP raises 2% tues close of play. wed.opens 43.13 thats up a fair satang. all day it goes down close of play 42.94 down 19satang. WHO'S SHAFTING WHO. Calm down, nobody's shafting anyone. The value of a currency moves based on new economic and political news and some times that news comes thick and fast, sometimes it's big news and sometimes it's small. So at 9am we might have positive news which sees the currency gain 5 points, 45 minutes later something else is announced which sees it loose 10 points. To give you an idea, here's the economics calendar for the UK for this month and next, this is just economics mind you: http://www.tradingeconomics.com/united-kingdom/calendar Add to the above all the political events and announcements AND then add all the events in the USD and THB calendars and you'll see there is potential thousands of events taking place every month which impact the GBP/THB exchange rate. So what happened in the instance you quoted: First of all the markets acted positively to the speech by May and that caused the Pound's to strengthen quite substantially, at the same time the US Dollar Index was weakening which amplified the Pound rise. Then, the US Dollar Index reversed and USD started to strengthen again (probably on the back of some economic or political event). At the same time the Pound overshot which is common when a currency strengthens too quickly, it goes to far too fast and has to retreat, some call this the dead cat bounce. At the same time the markets had time to evaluate the responses to May's speech by UE members and the initial euphoria wore off somewhat and reality economic returned. The fact is that whilst May's speech was positive and did remove some of the uncertainty surrounding the UK's approach, the bottom line is that nothing was said that gave markets confidence we would not go broke during the Brexit process - in that respect, the negative financial impact of Brexit has not changed one iota. Link to comment Share on other sites More sharing options...
chiang mai Posted January 19, 2017 Share Posted January 19, 2017 Somebody asked why the Baht is so strong? Here's a piece from Bloomberg this morning: "The Philippine peso, which weakened 4.2 percent in the past 12 months, is forecast to be the most resilient to external risks this year, according to a Bloomberg survey of 10 foreign-exchange analysts. The Thai baht and Indian rupee together rank second, while China’s yuan is last". https://www.bloomberg.com/news/articles/2017-01-18/asia-s-worst-emerging-currency-seen-most-resilient-in-2017-poll Link to comment Share on other sites More sharing options...
meatboy Posted January 19, 2017 Share Posted January 19, 2017 53 minutes ago, chiang mai said: Calm down, nobody's shafting anyone. The value of a currency moves based on new economic and political news and some times that news comes thick and fast, sometimes it's big news and sometimes it's small. So at 9am we might have positive news which sees the currency gain 5 points, 45 minutes later something else is announced which sees it loose 10 points. To give you an idea, here's the economics calendar for the UK for this month and next, this is just economics mind you: http://www.tradingeconomics.com/united-kingdom/calendar Add to the above all the political events and announcements AND then add all the events in the USD and THB calendars and you'll see there is potential thousands of events taking place every month which impact the GBP/THB exchange rate. So what happened in the instance you quoted: First of all the markets acted positively to the speech by May and that caused the Pound's to strengthen quite substantially, at the same time the US Dollar Index was weakening which amplified the Pound rise. Then, the US Dollar Index reversed and USD started to strengthen again (probably on the back of some economic or political event). At the same time the Pound overshot which is common when a currency strengthens too quickly, it goes to far too fast and has to retreat, some call this the dead cat bounce. At the same time the markets had time to evaluate the responses to May's speech by UE members and the initial euphoria wore off somewhat and reality economic returned. The fact is that whilst May's speech was positive and did remove some of the uncertainty surrounding the UK's approach, the bottom line is that nothing was said that gave markets confidence we would not go broke during the Brexit process - in that respect, the negative financial impact of Brexit has not changed one iota. message received,over out out. Link to comment Share on other sites More sharing options...
alfieconn Posted January 19, 2017 Share Posted January 19, 2017 1 hour ago, chiang mai said: Calm down, nobody's shafting anyone. The value of a currency moves based on new economic and political news and some times that news comes thick and fast, sometimes it's big news and sometimes it's small. So at 9am we might have positive news which sees the currency gain 5 points, 45 minutes later something else is announced which sees it loose 10 points. To give you an idea, here's the economics calendar for the UK for this month and next, this is just economics mind you: http://www.tradingeconomics.com/united-kingdom/calendar Add to the above all the political events and announcements AND then add all the events in the USD and THB calendars and you'll see there is potential thousands of events taking place every month which impact the GBP/THB exchange rate. So what happened in the instance you quoted: First of all the markets acted positively to the speech by May and that caused the Pound's to strengthen quite substantially, at the same time the US Dollar Index was weakening which amplified the Pound rise. Then, the US Dollar Index reversed and USD started to strengthen again (probably on the back of some economic or political event). At the same time the Pound overshot which is common when a currency strengthens too quickly, it goes to far too fast and has to retreat, some call this the dead cat bounce. At the same time the markets had time to evaluate the responses to May's speech by UE members and the initial euphoria wore off somewhat and reality economic returned. The fact is that whilst May's speech was positive and did remove some of the uncertainty surrounding the UK's approach, the bottom line is that nothing was said that gave markets confidence we would not go broke during the Brexit process - in that respect, the negative financial impact of Brexit has not changed one iota. Incorrect, a currency moves when traders act ( buy and sell) on new economic and political views, a currency does not move on it's own it's the buying and selling that determines which way it's goes. Link to comment Share on other sites More sharing options...
chiang mai Posted January 19, 2017 Share Posted January 19, 2017 Mods: my stalkers back! Link to comment Share on other sites More sharing options...
alfieconn Posted January 19, 2017 Share Posted January 19, 2017 3 minutes ago, chiang mai said: Mods: my stalkers back! If you didn't put misleading info up i wouldn't have to reply to your post's. Link to comment Share on other sites More sharing options...
chiang mai Posted January 19, 2017 Share Posted January 19, 2017 1 minute ago, alfieconn said: If you didn't put misleading info up i wouldn't have to reply to your post's. If English was your first language you'd be able to understand my posts! Which part of "based on" do you not understand! "value of a currency moves based on new economic and political news". Link to comment Share on other sites More sharing options...
alfieconn Posted January 19, 2017 Share Posted January 19, 2017 27 minutes ago, chiang mai said: If English was your first language you'd be able to understand my posts! Which part of "based on" do you not understand! "value of a currency moves based on new economic and political news". Value of a currency moves when it is bought and sold, if there was no traders buying and selling currencies for profit then there would be a lot less movement of currencies. Link to comment Share on other sites More sharing options...
SaintLouisBlues Posted January 19, 2017 Share Posted January 19, 2017 10 minutes ago, alfieconn said: Value of a currency moves when it is bought and sold, if there was no traders buying and selling currencies for profit then there would be a lot less movement of currencies. Maybe. It can also be argued that traders introduce friction to the market, slowing down any moves and making them less abrupt Link to comment Share on other sites More sharing options...
alfieconn Posted January 19, 2017 Share Posted January 19, 2017 10 minutes ago, SaintLouisBlues said: Maybe. It can also be argued that traders introduce friction to the market, slowing down any moves and making them less abrupt Traders like a lot of movement, it's the way they make their money ! Link to comment Share on other sites More sharing options...
chiang mai Posted January 19, 2017 Share Posted January 19, 2017 4 minutes ago, alfieconn said: Value of a currency moves when it is bought and sold, if there was no traders buying and selling currencies for profit then there would be a lot less movement of currencies. It doesn't matter who does the buying and selling or their motives for doing so, a currency is bought or sold because new information emerges which alters the basis on which that currency is being held or not held, that new information is typically either economic or political in nature. But true, if there were no brokers or dealers in the FOREX market there would be substantially less currency traded - . World commerce would also come to a grinding halt because governments and importers/exporters rely on FOREX markets to finance debt, settle export/import bills etc. and neither of those entities want to to trade at a loss. And exactly how or why a trader should buy and sell not for profit however escapes me! Link to comment Share on other sites More sharing options...
alfieconn Posted January 19, 2017 Share Posted January 19, 2017 (edited) 46 minutes ago, chiang mai said: It doesn't matter who does the buying and selling or their motives for doing so, a currency is bought or sold because new information emerges which alters the basis on which that currency is being held or not held, that new information is typically either economic or political in nature. But true, if there were no brokers or dealers in the FOREX market there would be substantially less currency traded - . World commerce would also come to a grinding halt because governments and importers/exporters rely on FOREX markets to finance debt, settle export/import bills etc. and neither of those entities want to to trade at a loss. And exactly how or why a trader should buy and sell not for profit however escapes me! Where have i said if all traders are removed ? of course there would need to be dealers to give prices and cover positions caused by finance debt, settle export/import bills etc but like i already said markets would be a lot less volatile. Sorry, neither of what entities want to trade at a loss ? Edited January 19, 2017 by alfieconn Link to comment Share on other sites More sharing options...
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