Your forexlive.com ENewsletter |  |
- Cable through 1.5750
- USD/JPY higher
- USD/JPY to the highs
- Euro not impressed
- EUR/JPY Orderboard
- USD/JPY Orderboard
- Sterling under early pressure
- France Dec Ind Prod -0.1% (exp -0.2%)
- AUD and EUR may miss a regular buyer this week
- EUR/USD Orderboard
- AUD/USD Orderboard
- European economic releases Mon 11.02.2013
- The G20
- Option expiries for the 1000 am New York cut today:
- An early look around the markets
- Good morning everyone
- ForexLive Asia Wrap: Chinese New Year and Japan Foundation Day holidays make for an illiquid, choppy day
- FX Market Movers for the coming week from Goldman’s
- Reuters article: French efforts to divert Europe from economic austerity have foundered twice in a week due to German resistance
- RBA’s Kent speaking at 0215GMT
| Posted: 11 Feb 2013 01:11 AM PST We hit stops through 1.5740/45 to a a low 1.5727. EUR/GBP pushing through 0.8500 to a high 0.8510. 0.8528 is the 38.2 level from the Pre ECB high/low. Update: The slide continues. Various sellers noted with the highest interest amongst M/E banks. Holding the 1.5700 line for now. After the early Feb lows around 1.5630 we had a correction to above 1.5810. The effect from last weeks good Uk figures has been wiped out and it looks like we’re back to the down trend. We’re through the hourly 100 ma at 1.5710. A sustained break below 1.5700 will have us targeting the Feb lows once again. Next decent support below 1.57 is down at 1.5660/70 |
| Posted: 11 Feb 2013 12:51 AM PST There were some comments from Haruhiko Kuroda a few hours ago, saying "Some additional" measures could be justified for 2013 (by the BOJ). Kuroda is a candidate for head of the BOJ. The higher USD/JPY is being attributed to these comments, even though they were made some time ago. More on his comments: Bloomberg: ADB's Kuroda Says Additional BOJ Easing Can Be Justified for '13 Reuters: BOJ inflation goal could be met in 2 years
|
| Posted: 11 Feb 2013 12:41 AM PST We’re still lacking liquidity with Tokyo shut today. Combined with the possible upcoming G7 statements and the G20 finance meeting later this week, we may see some choppiness in USD/JPY. The buzz words in the market is “currency wars”. Comments from Aso & Nissan last week caused some wild moves and we could see a bit of the same as markets start guessing what may come out of the meetings. USD/JPY hitting session highs and into offers at 92.90. On the tech side lows have been hugging the hourly 200 ma. Above we have the 55 ma at 93.12, the 100 ma at 93.22 and should we get there, resistance at 93.56. I’ve also just remembered that we have the BOJ announcement Tue/Wed.
|
| Posted: 11 Feb 2013 12:16 AM PST …with the French figures. We’ve moved from 1.3384 down to 1.3360 just ahead of the weekly 200 ma at 1.3355/60. It’s holding for now but the pressure looks on. Below there we had substantial support from last week at 1.3350. A break here could see stops hit and a fall through to bids in the 1.3320/30 area. Stocks are also on the slide. Just going through my charts the 1.3353 level is also the 50% fib level for the years low/high. All in all this 50 level is proving to be quite a strong level. |
| Posted: 10 Feb 2013 11:59 PM PST Downside:
Topside:
|
| Posted: 10 Feb 2013 11:54 PM PST Now for USD/JPY:
Downside:
|
| Posted: 10 Feb 2013 11:49 PM PST After a little look above 1.5800 to 1.5811 we’re off 35 pips to 1.5776. Small support seen at 1.5750/60 with better support down at 1.5710/20. EUR/GBP seems to be making a recovery after last weeks Draghi drop. Having broken through small resistance at 0.8475 we have the big figure at 0.8500 with further resistance at 0.8506. |
| France Dec Ind Prod -0.1% (exp -0.2%) Posted: 10 Feb 2013 11:46 PM PST |
| AUD and EUR may miss a regular buyer this week Posted: 10 Feb 2013 11:08 PM PST Chatter in the market is that with China on holiday this week the PBOC’s regular buying of the AUD and EUR will be greatly reduced this week. |
| Posted: 10 Feb 2013 11:03 PM PST From the ForexLive Asian Wrap:
It was a continued thin-liquidity holiday in most of Asia after these early moves, but it has firmed into early Europe.
On the downside:
Watch for the potential for market-moving comments from the ECB’s Governing Council member Nowotny and Bundesbank Board member Dombret who are speaking at a conference in Vienna today from 0815GMT. The conference is on Banking Regulation, so there may not be anything of immediate significance to currency rates … but you never know …
|
| Posted: 10 Feb 2013 10:46 PM PST You’ve heard this already today, but the holiday in Japan, China, Hong Kong and Singapore made for a very thin liquidity day, only Australia and New Zealand in the game today. The poor housing finance figures helped move the Australian interest rate markets, the implied probability of a rate cut firming from below 50% to around 54% today. Data: Australian December Home Loans -1.5% M/M Australian December Home Loans down – Recap There has been good interest from Asian Central Banks, most notably the PBOC, to buy AUD , and with the China on holiday this week buying that would otherwise be around is absent. - There are exporter bids below:
On the topside:
|
| European economic releases Mon 11.02.2013 Posted: 10 Feb 2013 10:42 PM PST A particularly quiet Monday for releases. 7.45 French Ind prod exp -0.2% from 0.5% prior. |
| Posted: 10 Feb 2013 10:27 PM PST Following on from Eamonn mentioning the possible G7 statement/s, the G20 have a busy schedule this month. The main item to note is the Finance ministers and Central bank governors meeting starting Thursday and running through Saturday. Could be worth few tapebombs. |
| Option expiries for the 1000 am New York cut today: Posted: 10 Feb 2013 10:19 PM PST Option expiries for the 1000 am New York cut today:
|
| An early look around the markets Posted: 10 Feb 2013 10:08 PM PST Stock futures are looking to open flat to slightly up. EUR/USD up at overnight highs of 1.3375. Holding above the weekly 100 ma at 1.3355. GBP/USD flat at 1.5800 USD/JPY holding steady around 92.60 after it’s overnight moves. AUD/USD is at 1.0300. Still undecided which way it wants to go. We’ve tried to go up and failed before 1.0350 and tried to go down and failed at 1.0250. Eamonn will be popping by with the Order level and option details shortly |
| Posted: 10 Feb 2013 09:53 PM PST A snowy one here in London. Not quite the battering the US has taken over the last few days though. Thanks Eamonn for the overnight and weekend coverage. |
| Posted: 10 Feb 2013 08:49 PM PST The only economic data point of note was Australian December Housing Finance: But there were some significant news items to be aware of:
Flows were minimal today, but what flows there were had an exaggerated impact in the thin, illiquid, holiday conditions. EUR/USD fell early in the day on selling from US investment names, triggering stops below 1.3340 to take the rate to 1.3325 before it sharply rose to 1.3380. It settled 1.3365/77 for the remainder of the session. EUR/CHF buying drove it higher as the CHF was sold off on Zurbruegg's comments (see news bullets, above) USD/JPY lost ground in the morning, down to 92.36 before back to 92.70 and settling around 92.45/55 for the balance of the day. AUD/USD didn't have much of a reaction to the worse than expected housing finance figures, but sold off late in the day back below 1.0300; NZD/USD fell away a little with it, below 0.8330. The moves were driven by late flows in a very thin market. |
| FX Market Movers for the coming week from Goldman’s Posted: 10 Feb 2013 08:31 PM PST Courtesy of eFX, the list of the global risk events which Goldman Sachs expect to have a significant impact on the FX market this week: FX Market Movers To Follow Closely This Week – Goldman Sachs
|
| Posted: 10 Feb 2013 06:37 PM PST From the weekend Reuters: Analysis – France runs into German wall on EU growth drive
|
| RBA’s Kent speaking at 0215GMT Posted: 10 Feb 2013 06:13 PM PST RBA Assistant Governor (Economic) Christopher Kent is speaking in Perth from 02515GMT at the Committee for Economic Development of Australia (CEDA) 2013 WA Economic and Political Overview. Kent is the chief economic advisor to the Governor and the Board. Just a heads up for AUD traders.  This isn't Christopher Kent |
| You are subscribed to email updates from ForexLive To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
0 comments:
Post a Comment