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Tuesday, February 19, 2013

Your forexlive.com ENewsletter

Link to ForexLive

German ZEW Economic Sentiment Feb 48.2 v 31.5 Jan

Posted: 19 Feb 2013 02:00 AM PST

so much for the caution after Q4 GDP.

Much better than expected number

EUR understandably better bid

 

 

Coming up – ZEW data at 10.00 gmt. stronger number expected

Posted: 19 Feb 2013 01:52 AM PST

  • 10.00 – Germany- ZEW Economic Sentiment  35  v 31.5
  • 10.00- EZ – ZEW Economic Sentiment  35.5 v 31.2

Analysts are expecting stronger data this time but caution would be wise given the poor Q4 GDP data

 

Spanish T-Bill auction results – top end of target at eu 4 bln

Posted: 19 Feb 2013 01:47 AM PST

  • Sold  eur 4 bln versus eur 3-4 bln target

Euro should find a little bit of additional support on this

 

EURJPY back above 125.00..

Posted: 19 Feb 2013 01:43 AM PST

Seems like 124.50 has deterred the sellers after all.

What do we think ?  is that the Yen buying spree over for the moment ?

USDJPY finding good support on the dips too…

Greece – Current Account deficit shrinks in December to eur – 0.54 b v – 2.13 b Nov

Posted: 19 Feb 2013 01:08 AM PST

  • yy tourism receipts fall to 10.02 b in 2012 from 10.5 b in 2011

Cable buying also has repatriation interest…

Posted: 19 Feb 2013 01:01 AM PST

Hearing that UK insurers have a repatriation interest to bring funds back from the US

UK clearing bank seen buying just now through 1.5500, as well as the ME names I mentioned earlier.

A good battle up here as we’ve discussed….

 

AUDUSD – Canadian names cited

Posted: 19 Feb 2013 12:57 AM PST

I’m hearing AUDUSD bought up to morning highs of 1.0343 by Canadian names

Sell orders  still lined up at 1.0350

Currently 1.0337

 

GBPUSD finds Middle East buyers – high so far 1.5505

Posted: 19 Feb 2013 12:52 AM PST

Middle East names were also the prime buyers off yesterday’s 7-month lows of  1.5438….

Still hungry for it below 1.5500 it would appear…

GBPUSD testing sell interest above 1.5500

Posted: 19 Feb 2013 12:40 AM PST

Don’t forget there’s supposed to be good offers all the way up to 1.5520 after yesterday’s high in a quick blip to 1.5508

Swedish Unemployment January 8.4 % v 7.4 %

Posted: 19 Feb 2013 12:34 AM PST

Slightly better than forecasts of 8.5 %

USDSEK  6.3132

EURSEK 8.4405

Swedish CPI January 0.0 % v – 0.1 %

Posted: 19 Feb 2013 12:33 AM PST

Forecasts were for a slightly higher number of + 0.2 %

EURJPY holds key 124.50 level

Posted: 19 Feb 2013 12:18 AM PST

Seems like the 124.50 magnet has rejected the seller’s charms for the moment, but it still looks suspect to another attack in my humble opinion…

EURJPY sellers – Middle East names cited

Posted: 18 Feb 2013 11:36 PM PST

Hearing Middle East sellers behind that move on EURJPY

Good demand at 124.50 but beware stop-loss sell orders below

EURJPY lower – as if by magic…

Posted: 18 Feb 2013 11:25 PM PST

uncanny huh ? !

EURJPY the prime mover here, stops triggered below 125.00

Currently 124.77

Bids reported at 124.70 and 124.50

EURUSD down to 1.3336 before steadying.

 

Ideas Corner

Posted: 18 Feb 2013 11:21 PM PST

Seems like early trades favour Yen and the Pound….

While we’re waiting for everything to kick in why not share your thoughts and ideas here….

 

It’s all very quiet out there……

Posted: 18 Feb 2013 11:18 PM PST

ok, perhaps it’s time to tempt fate and remark that it’s very quiet out there this morning.

In time honoured ForexLive tradition I believe this is guaranteed for it all to go crazy any time now !

but I’m getting little info of any note at the moment…..

Economic Data – Europe

Posted: 18 Feb 2013 10:56 PM PST

Here’s what’s coming up this morning ( GMT )

  • 08.30 -Sweden – Unemployment Rate  8.5% v 7.4 %
  • 08.30 -Sweden – CPI  0.2 % V -0.1 %
  • 10.00 – Germany- ZEW Economic Sentiment  35  v 31.5
  • 10.00- EZ – ZEW Economic Sentiment  35.5 v 31.2

Order board – Europe

Posted: 18 Feb 2013 10:35 PM PST

What we’re hearing at the moment…

  • GBPUSD – Offers still at 1.5500-10, 1.5550 with stop-loss buying above.  Bids at  1.5450-60, 1.5440, 1.5420, 1.5400 ( barrier option )
  • EURUSD – Offers at 1.3370, 1.3390, 1.3400. Bids 1.3325, 1.3300-10 ( stop loss selling through 1.3290 ), 1.3265, 1.3250, 1.3200
  • USDJPY – Offers 94.00, 94.20, 94.40, 94.50 ( stops above ). Bids 93.55, 93.35 ( stop loss selling through 93.30 )
  • AUDUSD – Offers  1.0340, 1.0350, 1.0380, 1.0400. Bids  1.0305, 1.0275, 1.0250, 1.0235, 1.0210

Morning Press – UK trade mission and domestic economy dominate

Posted: 18 Feb 2013 10:20 PM PST

ForexLive on BBC Radio 5 Live yesterday

Posted: 18 Feb 2013 09:55 PM PST

Good day everyone,

Yesterday ForexLive were invited onto the UK’s  BBC Radio 5 Live to add comment on the falling Pound.

Given my recent postings on the limited impact of GBP devluation  it was appropriate that I should be following Lord Bilamoria, CEO of Cobra beer, extolling the praises of PM Cameron’s current trade mission to India, in another massive effort to boost overseas markets outside the Eurozone.

BBC Iplayer is not universally useable but for those of you who can get it the 5 minute interview can be found here..

 http://www.bbc.co.uk/programmes/b01qqfjm  kicking in on the slider at 1.15.30.

Nothing new that I haven’t uttered on the site already but it does re-affirm my ongoing bearish view of the UK.

( and yes ,  I do sound a little tired in places but it does come at the end of a long shift from an early start ! )

 

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