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• Swiss names buying eur/usd and eur/gbp
• UK BBA January Mortgage Approvals lower at 32.8 k vs 34.2k exp
• EURUSD rally running into the 1.3250 sell orders
• The grand puzzle of the mighty Kiwi !
• AUDUSD sell orders at 1.0300 and above
• Order board: GBPUSD
• USDJPY Short term perspective
• UK gilt futures fall in early trading but losses recovered a little
• Cable now fills the gap from 1.5162 NY close
• US investment house re-iterates bearish cable view
• Spanish PPI y/y 2.6 % vs 2.4% exp
• Order board : EURUSD
• News alert- earthquake reported in tokyo
• EURCHF still a safe trade…
• Trade Ideas – Share your thoughts with your fellow man !
• UK Chancellor Osborne testifies at 15.45 gmt
• Economic data this morning: Spanish PPI and UK mortgage approvals
• Option expiries: 10am NY cut
• Cable (GBPUSD) will find 1.5000 a hard nut to crack methinks !
• Trading hats on…ready for a little range trading until we get some clarity ?

Swiss names buying eur/usd and eur/gbp Posted: 25 Feb 2013 01:37 AM PST talk on the street is good size buying interest from Switzerland possibly for fixing purposes

UK BBA January Mortgage Approvals lower at 32.8 k vs 34.2k exp Posted: 25 Feb 2013 01:30 AM PST previously 33.6k down 14% y/y lowest since september net mortgage lending in jan down  gbp 0.383 billion

EURUSD rally running into the 1.3250 sell orders Posted: 25 Feb 2013 01:26 AM PST eur/usd rally being tempered by the offers at 1.3250 I posted earlier now hearing talk of stop-loss buy orders if 1.3260 is breached

The grand puzzle of the mighty Kiwi ! Posted: 25 Feb 2013 01:19 AM PST The strength of the NZDUSD intrigues me: small country, small economy relying on exports of dairy and the odd sheep, 4.4m population – something must be hurting n’est-ce pas ? The GBPNZD is at an all time low, the Prime Minister recently worried more than a few by being cagey in his view to protect against a strong NZD whereas his Fin Min at least said that they might act to stem the tide. The Chinese have been buying willy nilly and to me it doesn’t look good but something in my water tells me it won’t last. Where will it all end ? Perhaps they will all come over here – it’s cheap enough ! And it wasn’t long ago (a matter of weeks) a hedge fund trader was recommending buying GBPNZD at 1.94 for a move to 2.05.

AUDUSD sell orders at 1.0300 and above Posted: 25 Feb 2013 01:12 AM PST With aud/usd also ploughing its way back higher from Asian lows 1.o262 i’m hearing of good offers ( sell orders ) at 1.0300, 1.0325-30 and 1.0340

Order board: GBPUSD Posted: 25 Feb 2013 12:52 AM PST what i’m hearing so far offers at 1.5165, stop loss buying if 1.5170 breaks, offers again 1.5180, 1.5200, 1.5225, 1.5250 ( option ) bids 1.5120, 1.5100, 1.5075, 1.5050 ( barrier option ), 1.5000-10 ( barrier option

USDJPY Short term perspective Posted: 25 Feb 2013 12:47 AM PST The early Asia spike has now dissipated some way towards filling the gap from the NY close. Currently we sit at 94.05 with some way to go to that friday close just below 93.50. While the news of the likely appointment of the uber-dovish Kuroda is in the market the announcement when it comes may well be met with a ‘sell the fact’ response with long market. The Abe-Kuroda partnership will doubtless in turn give the market further bullish impetus however in the interim we can expect the 92.00-50 to give serious support and approaches to the 95.00 option-protected will similarly attract selling interest to give us a range to work. Large stops when 95.00 gives way !   4H USDJPY

UK gilt futures fall in early trading but losses recovered a little Posted: 25 Feb 2013 12:45 AM PST UK government bond futures have fallen, as expected, upon the market opening this morning  June gilt future touched a low of 115.50, 56 ticks down from Friday’s settlement close, losses recovered a little since

Cable now fills the gap from 1.5162 NY close Posted: 25 Feb 2013 12:23 AM PST as widely anticipated GBPUSD has now risen this morning to fill the gap from new york’s close around 1.5162 low posted in early asia was 1.5073 right, so that’s the technical recovery out the way. let’s see what happens now high posted 1.5167 currently lower at 1.5151

US investment house re-iterates bearish cable view Posted: 25 Feb 2013 12:14 AM PST hearing that a us investment house has repeated its bearish call on GBPUSD told clients to stay short, looking for a test of 1.5000 decent buyer of 1 month options at that price just passing the info on to you all. take it for what you will.

Spanish PPI y/y 2.6 % vs 2.4% exp Posted: 25 Feb 2013 12:01 AM PST previously 2.7% m/m 1.1%

Order board : EURUSD Posted: 24 Feb 2013 11:38 PM PST I’m getting these from my sources so far: bids 1.3200, 1.3175, 1.3150. stop loss selling on break of 1.3145 offers 1.3235, 1.3250, 1.3290-00

News alert- earthquake reported in tokyo Posted: 24 Feb 2013 11:28 PM PST just on the wires initial reports of 6.2 strength update: no tsunami warning no damage reported to nuclear power plants reports of buildings shaken usd/jpy 94.10 from 94.28 prior.

EURCHF still a safe trade… Posted: 24 Feb 2013 11:15 PM PST The EURCHF long trade has been kind to me over a long period now; I have continued to hold faith in the SNB hard line approach and trading the pair from the long side seems the way to go. Stops below 1.2250 are mooted for short term players so beware, but buying all dips to me makes sense. The secret (hardly a secret !) is to keep positions manageable so you can increase without pain. EURCHF Ultimately looking for a move up to 1.2500 and beyond

Trade Ideas – Share your thoughts with your fellow man ! Posted: 24 Feb 2013 11:01 PM PST or gal (there are a few of you ladies aren’t there ?) ! Let’s see who has the wisdom and who should be in the sin bin…..post at your leisure…. I will offer a couple of starters - Long EURCHF but beware stops under 1.2250 – and if it goes down to 1.2180 rebuy. I will extend my thoughts on this in a post coming shortly. Sell retracements in GBPUSD to 1.5250 as there will undoubtedly be a test lower – the market won’t be able to resist it.

UK Chancellor Osborne testifies at 15.45 gmt Posted: 24 Feb 2013 10:55 PM PST One to bear in mind for another GBP risk event Chancellor Osborne appears before the Parliamentary Committee on Banking Standards today at 15.45 gmt Given Friday’s downgrade expect him to get asked a few questions on that too, especially if Moodys follow on from the sovereign downgrade to lowering that of the UK banking sector this morning as is their normal procedure.

Economic data this morning: Spanish PPI and UK mortgage approvals Posted: 24 Feb 2013 10:47 PM PST Not a lot of data out this morning but here’s the details of what we have coming up (gmt) 08.00 – Spain – PPI Jan- 2.4% exp vs 2.7% prev 09.30 -UK- BBA mortgage approvals  34.2k exp vs 33.6k prev

Option expiries: 10am NY cut Posted: 24 Feb 2013 10:16 PM PST USDJPY  92.00, 93.00, 93.50, 94.00 EURUSD 1.3130, 1.3200, 1.3250, 1.3300, 1.3400, 1.3450 EURJPY  125.00 AUDUSD 1.0250, 1.0300 EURGBP 0.8450, 0.8600

Cable (GBPUSD) will find 1.5000 a hard nut to crack methinks ! Posted: 24 Feb 2013 10:14 PM PST It’s been a good while since we were down at these levels and as Mike has alluded over the last week the bearish views here have built significantly with any doubters since the downgrade. However the smart money has been made over the last 8 cents or so. Expect reasonable support at 1.5050 on optionality and bigger at 1.5000. Beware of the profit takers at least for the moment…..topside retracements to 1.5250 are foreseeable in my opinion, so we potentially have a 2 cent range…..when 1.5000 does give in watch out !

Trading hats on…ready for a little range trading until we get some clarity ? Posted: 24 Feb 2013 09:56 PM PST Thanks for the greeting Jordan, Jay ! My feeling is that the early moves for essentially expected news was a little over done…. Expect the euro to to see resistance at 1.3300-25 and support at the earlier spike low around 1.3150; below there 1.3050-75 which includes the .382 from the 24 July last year to the recent 1st Feb peak

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