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• Euro zone january Inflation 2.0% y/y, -1.0% m/m
• Portugal Trade Confederation head: bailout terms need renegotiation
• Cable triggers stops below 1.5180
• Order board: AUDUSD
• A Tech perspective on Cable (GBPUSD)
• Order board: USDJPY
• Order board: EURUSD
• Italian PM Monti – shifting budget targets bad for credibility
• Order board: GBPUSD
• Order board: EURJPY
• German Seasonally adjusted Jobless Rate 6.9 % vs January revised 6.9%
• European equities: company news
• Swedish Retail Sales & PPI : +0.10% m/m and flat o.o% respectively
• EURCHF – like falling off a log !
• UK’s Osborne: welcomes RBS’s announcement to accelerate strategy to be a more British-focused bank
• Spanish, Danish Econ Stats – Spain Feb CPI 2.7% y/y as expected
• Mutterings of further end of month Euro demand
• RBS says it will have paid back ‘around half’ in first half
• French Consumer Spending & PPI (m/m) -0.8% and +0.5% respectively
• USDJPY H4 Tech

Euro zone january Inflation 2.0% y/y, -1.0% m/m Posted: 28 Feb 2013 02:02 AM PST

Portugal Trade Confederation head: bailout terms need renegotiation Posted: 28 Feb 2013 02:00 AM PST This is not new news he has been repeating this line for a while

Cable triggers stops below 1.5180 Posted: 28 Feb 2013 01:48 AM PST as per my order board post earlier low 1.5154 more buyers lining up at 1.5150

Order board: AUDUSD Posted: 28 Feb 2013 01:36 AM PST yesterday I posted a chart showing why the 1.0150 level was being defended ahead at 1.0185 by a large asian name which I had previously reported seems like he won this round of the battle eh? offers 1.0280, 1.0290, 1.0300, 1.0320, 1.0335, 1.0350 bids 1.0240, 1.0210, 1.0200, 1.0185 ( guess who), 1.0175, 1.0150 ( stop loss selling if breached)

A Tech perspective on Cable (GBPUSD) Posted: 28 Feb 2013 01:35 AM PST The daily clearly suggests we are only going one way in the big picture, however my comments earlier suggest a general consolidation maybe into next week. GBPUSD daily The H4 resistance is now support and that should suggest range. I think low 1.51s will find support and hence a trading range 1.51 – 1.5250. A clear break of 1.5300 should worry shorts and then we would be looking to resell nearer 1.54. Cable H4

Order board: USDJPY Posted: 28 Feb 2013 01:27 AM PST offers 92.40, 92.50, 92.70, 92.80, 93.00, 93.20, 93.50 bids 92.10, 92.00 ( stop loss sellling if breached ) 91.80, 91.60, 91.40, 91.00

Order board: EURUSD Posted: 28 Feb 2013 01:22 AM PST offers 1.3130, 1,3150,1.3175, 1.3190-1.3200,1.3220 1.3250 bids  1.3100-10, 1.3090, 1.3070, 1.3050, 1.3040, 1.3020, 1.3000-10 ( stops loss selling if breached ), 1.2980

Italian PM Monti – shifting budget targets bad for credibility Posted: 28 Feb 2013 01:15 AM PST wouldn’t be the first to be accused of that.

Order board: GBPUSD Posted: 28 Feb 2013 01:11 AM PST offers  1.5205-10, 1.5220, 1.5250, 1.5280, 1.5300 bids  1.5180, ( some stop loss selling if breached ) 1.5150, 1.5115-25, 1.5100, 1.5080, 1.5050

Order board: EURJPY Posted: 28 Feb 2013 12:59 AM PST I’m on the case to find out some order info but here’s the first offers 121.60, 121.80, 122.00 ( stop loss buying if breached) bids 121.20,121.00-05, 120.80, 120.50

German Seasonally adjusted Jobless Rate 6.9 % vs January revised 6.9% Posted: 28 Feb 2013 12:57 AM PST guess that’s a no real change then ! The Labour Office says that the labour market is coping well with the recent weaker economy. The change was another 3000 jobless slightly better than median forecasts of 5000.

European equities: company news Posted: 28 Feb 2013 12:34 AM PST good morning all, a couple of extra hours in bed for me today as I shall be working later into the NY session. First off, here’s the latest company news from my friends in the london equity markets. Vivendi: may put GVT sale on hold after low bids Banks: EU bonus 1:1 bonus/salary cap approved, eff Jan 2014 Credit Suisse: derivs-based bonus system breaches Basel III Royal Dutch: suspends Arctic activities for 2013 Vodafone: WSJ +ve on co backing away from Kabel Deutschland 3I: Sherborne Group “definitely” take to board after buying 1.6% Glencore: Ferrous Resources stake means AAL t/o unlikely Eads: owes Merkel thanks for blocking BAE SYSTEMS merger Repsol: shares look fully valued despite LNG assets sale

Swedish Retail Sales & PPI : +0.10% m/m and flat o.o% respectively Posted: 28 Feb 2013 12:31 AM PST Retail Sales were expected 0.10% after last month’s 1.20% PPI expected at 0.30% after last at 0.50%

EURCHF – like falling off a log ! Posted: 28 Feb 2013 12:26 AM PST And the bounce came as suggested. A decent 60-70 pips. It’s certainly tradable – I just don’t like being short so I just maintain a long position. In fact a key trading rule for many years is never to trade against the trend. I have been caught too many times. Above 1.2300 will give more comfort. HAVE FAITH ! EURCHF H4

UK’s Osborne: welcomes RBS’s announcement to accelerate strategy to be a more British-focused bank Posted: 28 Feb 2013 12:12 AM PST I guess he has a vested interest to say so ! as do a host of others ‘in the street’.

Spanish, Danish Econ Stats – Spain Feb CPI 2.7% y/y as expected Posted: 28 Feb 2013 12:03 AM PST Spanish Eu-harmonised CPI 2.8% as expected Danish Q4 GDP -0.9% expected -0.3% Danish Unemployment at 4.7% Hungary’s january PPI -0.9% y/y compared to – 1.8% in december Germany state Saxony february CPI +0.5% m/m, 1.5% y/y

Mutterings of further end of month Euro demand Posted: 27 Feb 2013 11:58 PM PST My underlying feeling for the day is that we may see limited downside in euro pairs; heard there is likely to still be month-end demand and coupled with my USDJPY view then I will err to the upside. I should add that I am cautious with intra day views technically as I hardly ever look at anything less than H4 charts – so I am generally not the guy to ask about the next hour or two ! This may anser a couple of questions in the comments section which I could not get around to answering.

RBS says it will have paid back ‘around half’ in first half Posted: 27 Feb 2013 11:52 PM PST sale of UK branches to Santander as planned is now unlikely within 12 months

French Consumer Spending & PPI (m/m) -0.8% and +0.5% respectively Posted: 27 Feb 2013 11:45 PM PST Spending expected – 0.2% last print 0.0% which was revised to +0.2% PPI expected 0.2% (previous -0.3% which was revised to -0.4%) no change to euro currently trading at 1.3140 in lacklustre early eurpean trade

USDJPY H4 Tech Posted: 27 Feb 2013 11:36 PM PST         USDJPY H4 For my money the base is place and see downside limited to 91.75 and think 92.25 should find reasonable support. I suspect a run through of 92.75 will get the bulls further on board for 93 plus. The risk to the downside is that now that the BOJ announcement is done we have a short ‘sell the fact’ reaction in europe, but my money is the other way.

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