Your forexlive.com ENewsletter

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• EU Commission forecasts send euro lower
• Italian Consumer Confidence Feb: 86 vs 84.8 exp
• USDJPY order board
• UK Chancellor Osborne welcomes the BOE/PBOC swap agreement
• ECB’s Hanssen – euro exchange rate not grossly out of line
• IFO data – Italian elections not yet factored in says economist
• BOE and PBOC to discusss a 3 year swap line agreement
• Better than expected IFO finds fresh euro buyers
• Italian CPI Jan final mm 0.2 % vs 0.2% exp y/y 2.2% vs 2.2 % exp
• German IFO Expectations Feb 104.6 vs 101.30 exp
• German IFO Current Conditions Feb 110.2 vs 108 exp
• German IFO Business Climate Index Feb 107.4 vs 105 exp
• EURJPY – fund buying
• IFO expectations – better number anticipated
• EURUSD order board –
• European equities – small early gains
• Ichimoku charting for Dummies part 1
• Italian Elections – timetable
• More on cable – stop loss orders seen above 1.5330 on intra-day short positions
• JP Morgan now sees ECB interest rate cut this year

EU Commission forecasts send euro lower Posted: 22 Feb 2013 02:04 AM PST more to follow EU commission winter forecasts cut EMU 2013 gdp to-0.3% from 0.1% prev 2014 gdp unrevised at 1.4% germany- gdp 2013 revised down to 0.5% from 2% france-    gdp 2013 revsied down to 0.1% from 1.2%

Italian Consumer Confidence Feb: 86 vs 84.8 exp Posted: 22 Feb 2013 02:02 AM PST previously 84.6

USDJPY order board Posted: 22 Feb 2013 01:48 AM PST here’s what I’m currently hearing offers 93.50, 93.70 ( stop loss buying if breached ), 94.00, 94.20, 94.50 ( stops above ), 95.00 bids 93.20, 93.00, 92.90, 92.70 ( stop loss sell orders if breached),  92.50, 92.30 ( stops below ), 92.20

UK Chancellor Osborne welcomes the BOE/PBOC swap agreement Posted: 22 Feb 2013 01:39 AM PST says “important step” “will cement London as RMB trading centre”

ECB’s Hanssen – euro exchange rate not grossly out of line Posted: 22 Feb 2013 01:30 AM PST out just now said he ” does not see the euro exchange rate grossly out of line one way or another “

IFO data – Italian elections not yet factored in says economist Posted: 22 Feb 2013 01:25 AM PST IFO economist Wohlrabe says:  that the italian elections not yet been a influence in the survey results  that the investment backlog is starting to clear strong euro not appearing to have an impact constuction is doing well, order books full The market was indeed long of euros going into this data EURUSD now down further at 1.3220 and EURJPY 123.42

BOE and PBOC to discusss a 3 year swap line agreement Posted: 22 Feb 2013 01:11 AM PST cable spiked to 1.5282 on the news but sellers seen again currently 1.5257 add: Bank of England and Peoples Bank of China to agree to discuss setting up a 3 year currency swap agreement would be used to finance trade and direct investment between the two countries would also be designed to support domestic financial stability should market conditions warrant final agreement due to come” shortly”

Better than expected IFO finds fresh euro buyers Posted: 22 Feb 2013 01:06 AM PST IFO in at 107.4 v 105 exp and 104.2 in jan euro buyers on the news eur/usd high1.3246 eur/jpy 123.79 The spike has been capped by the sell orders I posted earlier at 1.3250 and 123.80 respectively Market was expecting a decent number and had factored that in prior so a limited rally only to be expected

Italian CPI Jan final mm 0.2 % vs 0.2% exp y/y 2.2% vs 2.2 % exp Posted: 22 Feb 2013 01:02 AM PST In line with previous flash estimate

German IFO Expectations Feb 104.6 vs 101.30 exp Posted: 22 Feb 2013 01:01 AM PST Previously 100.50 in jan

German IFO Current Conditions Feb 110.2 vs 108 exp Posted: 22 Feb 2013 01:01 AM PST Previously  108 in jan

German IFO Business Climate Index Feb 107.4 vs 105 exp Posted: 22 Feb 2013 01:00 AM PST Previously 104.2 in jan

EURJPY – fund buying Posted: 22 Feb 2013 12:44 AM PST I’m hearing of fund management buying in this pair currently 123.50, just off 123.66 high posted asia low 122.54 offers now seen at 123.80 and larger interest to sell at 124.00

IFO expectations – better number anticipated Posted: 22 Feb 2013 12:32 AM PST traders are factoring in a better than expected German IFO release at 09.00 gmt, based on the strong ZEW index this week weak PMI data is giving cause for caution though euro buying now as europe gets under way fully.

EURUSD order board – Posted: 22 Feb 2013 12:26 AM PST offers 1.3250, 1.3280, 1.3300-10 ( stop loss buying above ) , 1.3330 bids 1.3200, 1,3185, 1.3165, 1.3120

European equities – small early gains Posted: 22 Feb 2013 12:10 AM PST ftse  + 0.2% dax + 0.4% cac 40 + 0.6% ibex +0.5% ftmib  +0.4%

Ichimoku charting for Dummies part 1 Posted: 22 Feb 2013 12:10 AM PST For those curious about Ichimoku charting and looking for a quick, simple introduction, our friends at eFX have posted the first in a series of two ‘for dummies’ guide: Ichimoku Charting System For Dummies P1: Short History & Basic Concepts – SEB If you look at this and go "Huh?, check out the link!

Italian Elections – timetable Posted: 22 Feb 2013 12:05 AM PST FEB 24/25 Italian General Election Feb 25 – voting expected to be completed by 14.00 gmt Feb 25 – first exit poll seen shortly after 15.00 gmt

More on cable – stop loss orders seen above 1.5330 on intra-day short positions Posted: 22 Feb 2013 12:02 AM PST early europe getting itself short on cable after a failed attempt to get back above 1.5300 I’m told there’s good size stop-loss buy orders gathering around 1.5330 now

JP Morgan now sees ECB interest rate cut this year Posted: 21 Feb 2013 11:52 PM PST a  change of view sent out to clients previously said that rates would remain on hold says it expects ” a broad based disappointment” to signal a cut in the main refinancing rate

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