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- Eurozone Dec Inflation estimate 2.2% y/y
- Gold continues to slide, but 100 day MA lending some support
- UK December services PMI 48.9
- The Greece of Asia: Japan’s growing sovereign debt time bomb
- Europe’s dream of toppling dollar fades as Asian Tigers dump euro
- Eurozone Dec final Services PMI rises to 5 month high of 47.8
- German final services PMI 52,0
- French Dec Final services PMI falls to 45.2
- Italy December services PMI rises to 45.6
- USD/JPY extends gains..
- Japan chief cabinet secretary Suga: Want to give priority to person familiar with Abe’s thinking as next BOJ governor
- Spain December services PMI rises to 44.3
- Option expiries (updated)
- Another USD/JPY barrier breached..
- Switzerland and Britain are now at currency war
- EUR/USD gives ground as Europe gets underway
- Today’s orderboard
- German November prelim retail sales +1.2% m/m, -0.9% y/y
- Roll up!!, roll up!!, time’s a wastin………
- European stocks seen opening moderately lower
| Eurozone Dec Inflation estimate 2.2% y/y Posted: 04 Jan 2013 02:01 AM PST Unchanged from November, but slightly above consensus of 2.1% |
| Gold continues to slide, but 100 day MA lending some support Posted: 04 Jan 2013 01:59 AM PST Off around $45 from the levels seen before yesterday’s FOMC minutes release, which hinted at a possible earlier end to the US QE programme, with the metal just edging down through December lows of $1635.80, (day’s low 1635.60 -EBS), but now finding some support around the 100 day MA around $1636.10. Next technical support lies down at $1620 and $1610
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| Posted: 04 Jan 2013 01:28 AM PST Down from 50.2 in November and weaker than Reuters’ median forecast of 50.5. Lowest read since April 2009 Given the UK’s dependence on the service sector this is bleak news indeed. November mortgage approvals 54,036, better than Reuters’ median forecast of 53,800 and highest since January 2012. That’s the good news. Not so good, mortgage lending for November -0.2 bln, weaker than Reuters’ median forecast of +0.5 bln. Cable slips to session low 1.6042. |
| The Greece of Asia: Japan’s growing sovereign debt time bomb Posted: 04 Jan 2013 01:19 AM PST |
| Europe’s dream of toppling dollar fades as Asian Tigers dump euro Posted: 04 Jan 2013 01:15 AM PST Leading world powers have scaled backed their euro reserve holdings to levels not seen since 2002. IMF data shows emerging nations have cut EMU bond weightings to 24.7% from 30% seen 3 years ago when the Eurozone crisis began, with the largest drop coming in Q3 2012. More... UK Telegraph |
| Eurozone Dec final Services PMI rises to 5 month high of 47.8 Posted: 04 Jan 2013 12:59 AM PST Unchanged from flash reading but up from November’s 46.7 December services business expectations rises to 52.5 (flash 52.6) from 50.6 in November Final composite PMI 47.2 (Flash47.3) from 46.5 in November, new orders unchanged from November at 45.0 (Flash 45.1) |
| German final services PMI 52,0 Posted: 04 Jan 2013 12:53 AM PST Fraction lower than 52.1 flash read. |
| French Dec Final services PMI falls to 45.2 Posted: 04 Jan 2013 12:49 AM PST After flash reading of 46.0 and 45.8 in November Final Dec composite PMI rises to a 4 month high of 44.6 (Flash 45.0) from 44.3 in November |
| Italy December services PMI rises to 45.6 Posted: 04 Jan 2013 12:49 AM PST From 44.6 in November, stronger than median forecast of 45.0. |
| Posted: 04 Jan 2013 12:46 AM PST 10 yr US treasuries yields rise 5 bps to to 1.96% as USD/JPY posts fresh highs of 88.26 EUR/JPY’s closing in on the 115.00 level again with a day’s high of 114.96. Possible buy stops now seen through 115.20 ahead of tech resistance in the 115.60/70 region. Above is a touted barrier at 116.00 |
| Posted: 04 Jan 2013 12:31 AM PST Who wud have thunk it |
| Spain December services PMI rises to 44.3 Posted: 04 Jan 2013 12:19 AM PST From 42.4 in November. Thank heavens for small mercies. Still 18th straight month of contraction (below 50) |
| Posted: 04 Jan 2013 12:07 AM PST For the 1000 NY/1500 GMT cut:
EUR/USD: 1.2900, 1.3000, 1.3050, 1.3075, 1.3100, 1.3200, 1.3285 GBP/USD: 1.6150, 1.6200, USD/JPY: 87.00, 87.50, AUD/USD: 1.0400, 1.0450, 1.0500, 1.0505, 1.0510 EUR/GBP: 0.8100 |
| Another USD/JPY barrier breached.. Posted: 03 Jan 2013 11:59 PM PST Buy stops were flushed on the break to a high of 88.12. Next point of technical resistance above is the July 15 2010 high of 88.50 ahead of 89.15 (July 12 2010 high) Hard to buck this trend with US treasuries on a firm footing and the strong gains in the Nikkei in Asia |
| Switzerland and Britain are now at currency war Posted: 03 Jan 2013 11:39 PM PST |
| EUR/USD gives ground as Europe gets underway Posted: 03 Jan 2013 11:25 PM PST Down at 1.3015. Talk ACB notable seller in this latest leg lower (hasn’t anyone told them they should be buying?) Stops through 1.3000 and 1.2980. |
| Posted: 03 Jan 2013 11:22 PM PST EUR/USD: Bids 1.3000/15, sell stops below though 1.3000 and 1.2980 (55 day MA 1.2987). Offers 1.3040/50 and 1.3090/10 (kijun line 1.3092), possible buy stops above. GBP/USD: Bids 1.6050/60 (55/100 day MA's 1.6061/ 1.6050) in front of fibo tech supp 1.6040 (61.8% of 1.5829/1.6381), and 1.6000/10, likely sell stops through 1.5990. Offers 1.6100/10 and 1.6130/40 EUR/GBP: Bids 0.8080/90 (0.8086 55 day MA), tech support 0.8060/65 (0.8062 Dec 12 low) and 0.8035/50 (daily cloud base 0.8044, 0.8036/46 200/100 day MA's)). Offers 0.8115/20, 0.8145/55, tech res tankan line 0.8156, USD/JPY: Offers 87.90 up to an 88.00 barrier. Bids 87.40/50 and 86.90/00 EUR/JPY: Bids/ tech supp 113.90/00 and 113.65/75. Offers 114.50/60, 115.10/20, 115.55/65 AUD/JPY: Offers 91.90/00 (barrier talk 92.00), tech res above 92.40/45 (Sept 2008 high 92.44). Bids 91.10/20, tech support 90.80/90 AUD/USD: Offers 1.0450/60 and 1.0500/20(funds, corporate, importers, RBA). Bids 1.0400/10 ( sovereigns), possible sell stops just below ahead of bids 1.0380/90, Stops below and again through 1.0350 EUR/AUD: Offers 1.2500/10. Bids 1.2440/50 tech support 1.2410/30 ( 200/100 day MA’s at 1.2414 and 1.2426) |
| German November prelim retail sales +1.2% m/m, -0.9% y/y Posted: 03 Jan 2013 10:59 PM PST Stronger than median forecasts of +0.8%, -1.6% respectively. |
| Roll up!!, roll up!!, time’s a wastin……… Posted: 03 Jan 2013 10:56 PM PST If you want to enter the Forexlive non-farm payrolls competition and give yourself the chance to win a lovely Forexlive t-shirt. Hit this link and show us what you’re made of….. |
| European stocks seen opening moderately lower Posted: 03 Jan 2013 10:48 PM PST Financial bookies see FTSE and DAX opening down around -0.2%, CAC 40 down around -0.3%. |
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