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- December 26 – Tokyo is open today
- Merry Christmas
- Not really a day for trading
- Cable in its own world
- Sterling in your stocking
| December 26 – Tokyo is open today Posted: 25 Dec 2012 01:28 PM PST As a reminder, the Tokyo market is open for business today (the 26th), as is the US market.
Much, much later, at 1400GMT we start to get some figures out of the US:
The UK and Europe are still on holiday on the 26th, so expect thin, relatively illiquid FX markets, with spreads a little wider than normal. Not a great trading environment; but if you are trading, have a great day. If you’re not trading – enjoy the continuing holiday! |
| Posted: 25 Dec 2012 11:17 AM PST A big thank-you to all our readers. We love all the comments and feedback. No fighting tonight. |
| Posted: 25 Dec 2012 10:21 AM PST If someone got involved in that wild cable trade, I would love to hear about it. …and if you’re alone on Christmas, remember that James Brown loves ya. |
| Posted: 25 Dec 2012 09:15 AM PST Cable fell as low as 1.5899 on EBS but has rebounded to 1.6143.
I don’t know what to make out of the wild price action in such thin liquidity but it seems to be over now. |
| Posted: 25 Dec 2012 05:38 AM PST The pound has tobogganed downhill in the past hour in an otherwise whisper-quiet market. GBP/USD has fallen to 1.6020 from 1.6135 — more than a full cent. I assume the decline is the result of an ill-timed flow, since the newswires are quiet. If you’re trading on Christmas the non-nonsensical move might be a gift (if you can get a fill). There is support at 1.6000 and moves in ultra-thin markets tend to reverse. There also appear to be some arbitrage opportunities with the drop entirely confined to GBP/USD. |
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