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UK economy suffers shock pre-Brexit contraction in second-quarter, first since 2012


snoop1130

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4 hours ago, Loiner said:

No shock here. They excused the economy increase in the first quarter as due to to Brexit stockpiling. So now a 0.2% second quarter reduction is a calamity? Remainer ball licks.


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On the other hand Brexiters were claiming that the strong showing in the first quarter was proof that Brexit fears were baseless.

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1 minute ago, bristolboy said:

On the other hand Brexiters were claiming that the strong showing in the first quarter was proof that Brexit fears were baseless.

Changing the story to suit the article. It's why debate is completely pointless now.

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16 hours ago, billd766 said:

What is reality? Well I doubt that it is fake news but it should be taken in context as there are big problems in Italy along with the EU and the world trading in general.

 

Is it this where all the economists got it wrong?

 

Sterling fell and British stocks sold off after data showed output in the world’s No.5 economy fell at a quarterly rate of 0.2% in the three months to June, below all forecasts in a Reuters poll of economists that had pointed to a flat reading.

 

Or this? The BoE rarely get their forecasts correct and always look on the gloomy side.

 

The Bank of England last week predicted that growth will only stage a limited pick-up to a quarterly rate of 0.3% during the current quarter, and that growth for the year as a whole will drop to 1.3%.

 

Friday’s data showed business investment contracted 0.5% in the second quarter of the year versus economists’ expectations of a 0.3% fall.

 

The world economy has also slowed due largely to a trade dispute between the United States and China.

 

Perhaps it isn't all Brexit after all.

 

Thanks to a link from nauseus.

 

https://www.cnbc.com/2019/08/09/european-stocks-trade-worries-weigh.html

 

The pan-European Stoxx 600 slipped 0.5% by mid-morning. Bank stocks shed 1.3% as shares of Italian lenders tumbled amid political uncertainty, while autos led losses with a 1.5% drop.

Italy’s coalition government imploded on Thursday, as deputy prime minister and leader of Italy’s ruling Lega party, Matteo Salvini, declared the arrangement unworkable and called for fresh general elections.

In the latest trade war developments, a majority of economists polled by Reuters said the recent escalation of tensions between the U.S. and China had brought forward the next U.S. recession, and indicated that the Federal Reserve is likely to cut rates again in September before a further cut next year.

 

it's all a matter of interpretation.... is the glass half full or half empty ?

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2 hours ago, ThePioneer said:

I know you live in the past, but a full day?

 

Why post the rate from the 10th when we are the 11th. It's 36.64 today

 

As for you not receiving more then 52 Bht to the pound since 2009, you have been ripped off, as it has been 56.90 in August 2009

we are on the 11th, where the heck are you, Thailand Saturday August 1oth 2019 at 11,31 AM

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Just now, Mavideol said:

we are on the 11th, where the heck are you, Thailand Saturday August 1oth 2019 at 11,31 AM

You are correct, my wrong.

 

Though the exchange rate of 37.03 is obviously from yesterday, since as far as I'm aware there are no rates set during weekends.

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2 minutes ago, ThePioneer said:

I don't live in the future, as it is the 11th of August today, and i also don't correct mistakes.

man you keep insisting we are on the 11th that made me question everything I have around the house... nothing wrong with correcting oneself, big persons regularly do that, admitting making a mistake shows open mind and FYI until midnight tonight, TODAY it's August 10th 2019

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2 minutes ago, ThePioneer said:

You are correct, my wrong.

 

Though the exchange rate of 37.03 is obviously from yesterday, since as far as I'm aware there are no rates set during weekends.

 

 

Then today is great for your further education..... rates are moving 7 days a week, 24 hours a day. It doesn't stop just because the banks are closed...for example, Transferwise  will give you 37.0416  NOW.

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Just now, Handsome Gardener said:

What indecision ? The UK will leave the EU according to Bojo on October 31st without a deal - its THAT that is causing the carnage. 

 

The markets have done their sums - and we're now getting the results.

 

 

So what was the indecision before BJ became PM ?

 

 

 

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Just now, Jip99 said:

 

 

Then today is great for your further education..... rates are moving 7 days a week, 24 hours a day. It doesn't stop just because the banks are closed...for example, Transferwise  will give you 37.0416  NOW.

You are wrong.

 

Rates stop moving when the markets are closed.

 

The rate set by Transferwise is not a market rate, but set by Transferwise only, to cover eventual losses that may otherwise occur when the markets open again on Monday

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2 hours ago, ThePioneer said:

I know you live in the past, but a full day?

Why post the rate from the 10th when we are the 11th. It's 36.64 today

Holy shit, you must be a remainer, as you don't even know today's date.

You probably think 36/55 is -44% as well.

I'm adding you to my ignore list, no point talking with stupid (or reincarnations of people I've already ignored).

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8 minutes ago, ThePioneer said:

You are wrong.

 

Rates stop moving when the markets are closed.

 

The rate set by Transferwise is not a market rate, but set by Transferwise only, to cover eventual losses that may otherwise occur when the markets open again on Monday

 

 

So you think that means that rates don't move.

 

Where was my statement wrong.

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Just now, Jip99 said:

 

 

So you think that means that rates don't move.

 

Where was my statement wrong.

When in doubt keep an eye on the XE exchange rate and see if it moves in any direction between now and Monday.

 

There is a difference between market rates and rates set by an individual financial institution.

 

 

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1 minute ago, ThePioneer said:

When in doubt keep an eye on the XE exchange rate and see if it moves in any direction between now and Monday.

 

There is a difference between market rates and rates set by an individual financial institution.

 

 

 

 

I said rates move 24/7.

 

 

They do........................ I will move money through TW anytime of any day and the rate moves.

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37 minutes ago, ThePioneer said:

When in doubt keep an eye on the XE exchange rate and see if it moves in any direction between now and Monday.

 

There is a difference between market rates and rates set by an individual financial institution.

 

 

 

 

XE.COM:-

 

 

12:25    37.0322

 

12:29    37.0272

 

12:34    37.0402

 

 

Now, stop posting stupid and inaccurate comments.

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2 minutes ago, Jip99 said:

 

 

XE.COM:-

 

 

12:25    37.0322

 

12:29    37.0272

 

12:34    37.0402

 

 

Now, stop posting stupid and inaccurate comments.

image.png.8419f481ad09aa9b105cd8f129ee3436.png

 

 

XE Currency FAQ

What are “mid-market” rates?

Answer

The rates in our free information services are not transactional rates. Instead, they are mid-market rates derived from the mid-point between the "buy" and "sell" transactional rates from global currency markets. Our free information services always list the mid-market rate because it indicates the value of a currency that is not weighted towards buying or selling. Consumer clients or small to medium sized businesses cannot access these rates.

Transactional ("Buy" and "sell") rates include overheads and profit margins that are independently set by foreign exchange providers; their rates can vary a lot and will differ from the mid-market rate. To get a quote for XE’s transactional rates, check out our XE Money Transfer service.

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5 minutes ago, ThePioneer said:

image.png.8419f481ad09aa9b105cd8f129ee3436.png

 

 

XE Currency FAQ

What are “mid-market” rates?

Answer

The rates in our free information services are not transactional rates. Instead, they are mid-market rates derived from the mid-point between the "buy" and "sell" transactional rates from global currency markets. Our free information services always list the mid-market rate because it indicates the value of a currency that is not weighted towards buying or selling. Consumer clients or small to medium sized businesses cannot access these rates.

Transactional ("Buy" and "sell") rates include overheads and profit margins that are independently set by foreign exchange providers; their rates can vary a lot and will differ from the mid-market rate. To get a quote for XE’s transactional rates, check out our XE Money Transfer service.

 

 

Good, so now you understand 'live rates'.

 

 

 

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41 minutes ago, rudi49jr said:

Winning, winning, winning!!! I’m sure BJ has a ‘plausible’ explanation, as do all the hard-core brexiteers on this forum, who keep believing that pigs can fly.

many of you are using ""BJ"" ..... 555

Tom: Dude, I just got the sweetest B.J., she did it like a pro
Jack: Oh really? Who was it, I want some of that B.J. action
Tom: Dude...it was your mom
Jack: ?!
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30 minutes ago, Jip99 said:

 

 

Good, so now you understand 'live rates'.

 

 

 

https://www.luckscout.com/what-are-the-weekend-gaps-in-forex-market/

Forex market is open 24 hours per day and 5 days per week.

 

https://www.evilforex.com/can-you-trade-forex-on-weekends/

We usually refer Forex as 5/24 business. You can trade currencies 5 days a week for full 24 hours. That is a big difference to other financial instruments. Stocks are linked to exchanges and even with listing in more countries, you will hardly find equity which is tradeable on every continent.

Forex trading usually starts on Monday in Australia and finishes on Friday in New York. Thanks to time zones you can trade in New York from Sunday 17.00 till Friday 17.00 p.m. That makes for 5 full days. Not bad.

 

https://www.investopedia.com/ask/answers/how-forex-market-trade-24-hours-day/

 

The market is open 24 hours a day in different parts of the world, from 5 p.m. EST on Sunday until 4 p.m. EST on Friday.

 

 

Goodbye

 

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