Your forexlive.com ENewsletter

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• Eurozone Retail Sales feb: m/m -0.3% vs -0.2% exp
• It’s oh so quiet
• BOE FPC says UK banks should hold 7% capital vs risk-weighted assets
• Is the SNB loading it’s guns again?
• Order board: AUDUSD
• Order board: JPY
• European equities a little higher
• UK Halifax house price index march: +0.2% vs +0.2% exp
• Order board: EURUSD
• USDJPY breaks below 96.00
• Nikkei closes up 1.58% at 12,833.64
• Trading Ideas
• Data coming up today
• Japan coincident feb : +0.5 vs -0.3 prev
• Japan leading indicators feb: +2.5 vs +3.1 prev
• 10 year JGBs reversing from record lows
• Option expiries 10am NY cut
• USDJPY down 100 ticks from highs
• Tokyo stock exchange halts trading in JGB futures after sharp drop
• ForexLive Asia wrap: Follow through yen selling in Asia today

Eurozone Retail Sales feb: m/m -0.3% vs -0.2% exp Posted: 05 Apr 2013 02:01 AM PDT +1.2% prev revised to +0.9% y/y -1.4% vs -1.8% exp -1.3% prev

It’s oh so quiet Posted: 05 Apr 2013 02:00 AM PDT It’s bound to kick off now i’ve posted this, but in the meantime enjoy.

BOE FPC says UK banks should hold 7% capital vs risk-weighted assets Posted: 05 Apr 2013 01:55 AM PDT From the release just now of the Financial Policy Commitee’s march meeting says major banks and building societies should hold at least 7% capital resources in ratio to their risk-weighted assets some members still unsure whether 7% was enough FPC says lines need to be drawn under doubts over the UK banking system’s capital adequacy says its considering tougher rules on how banks calculate risk on their books

Is the SNB loading it’s guns again? Posted: 05 Apr 2013 01:45 AM PDT With the release earlier of the SNB reserves which showed the highest rise for six months are we to assume that they might be getting a little anxious about the EURCHF peg? Foreign currency reserves were reported at CHF 438.3 billion in March, up from a revised  CHF 430 billion in February. The 1.2000 floor in EUR/CHF was set in September 2011 when the SNB said it would buy the Euro using an unlimited supply of Swiss Francs, and the currency pledge was reiterated by the central bank in its March meeting. When things were looking a little rosier in the Eurozone ( remember those halcyon days last year ?) the SNB could give the pair a kick higher and then sit back and watch EURCHF climb further and even had the added luxury of selling its Euros into every decent EURUSD rally. Nice work. But this year things are a little different and with the recent Eurozone woes and EURUSD decline we’ve seen pressure again on EURCHF. The SNB won’t be panicking just yet but they’re too clever to let it go down too far. Keep an eye on this pair.

Order board: AUDUSD Posted: 05 Apr 2013 01:25 AM PDT offers 1.0445,1.0475,1.0490,1.0500, 1.0510,1.0520 ( last 3 all barrier option related ) 1.0550 bids  1.0400,1.0385,1.0365,1.0350, 1.0320

Order board: JPY Posted: 05 Apr 2013 01:19 AM PDT USDJPY offers 96.70, 97.00,97.25,97.50,97.75 ( both barrier option related) bids 96.00,95.85,95.70,95.50,95.30,95.20,95.00 EURJPY offers  124.80,125.00,125.30,125.50,126.00 bids 123.85,123.50,123.00,122.50

European equities a little higher Posted: 05 Apr 2013 12:15 AM PDT FTSE  flat DAX  +0.03% CAC40 +0.06% IBEX +0.5% FTMIB +0.4%

UK Halifax house price index march: +0.2% vs +0.2% exp Posted: 05 Apr 2013 12:01 AM PDT +0.5% prev y/y  +1.1%    vs +1.1%   +1.9% prev

Order board: EURUSD Posted: 04 Apr 2013 11:38 PM PDT offers 1.2940,1.2950,1.2980,1.3000,1.3050 bids  1.2900,1.2875,1.2850,1.2825

USDJPY breaks below 96.00 Posted: 04 Apr 2013 11:28 PM PDT The roller coaster ride continues Decent support at 96.00-10 now history. low posted 95.86 Funds selling at 96.30 helped the move lower. Blink and you miss it today

Nikkei closes up 1.58% at 12,833.64 Posted: 04 Apr 2013 11:03 PM PDT Up 199 points A lively afternoon session today. Highs posted 13,225 before sharp falls

Trading Ideas Posted: 04 Apr 2013 10:54 PM PDT Ok, after all the fun and games of the past 24 hours and with a lively day expected ( later at least ) let’s have your trading ideas and thoughts to share with the room. Reasons helpful as always but not obligatory

Data coming up today Posted: 04 Apr 2013 10:46 PM PDT Main feature being the NFPs of course Times GMT+1

Japan coincident feb : +0.5 vs -0.3 prev Posted: 04 Apr 2013 10:10 PM PDT first m/m rise in two months data suggests economy bottoming out

Japan leading indicators feb: +2.5 vs +3.1 prev Posted: 04 Apr 2013 10:08 PM PDT

10 year JGBs reversing from record lows Posted: 04 Apr 2013 09:44 PM PDT now up 16.5 bps to 0.6% USDJPY business at 96.15  now 96.42 Hold onto your hats folks !

Option expiries 10am NY cut Posted: 04 Apr 2013 09:40 PM PDT USDJPY  94.00,95.00,95.50,96.00,96.50 EURUSD 1.2800,1.2850,1.2900,1.2920,1.2950,1.2955,1.3000 GBPUSD 1.4990,1.5100,1.5200 AUDUSD 1.0400,1.0510,1.0525 USDCAD 1.0100,1.0290 EURJPY 123.50 EURAUD 1.2550 EURGBP 0.8550

USDJPY down 100 ticks from highs Posted: 04 Apr 2013 09:37 PM PDT Currently 96.19 after posting 97.19 That will have shaken out a few of the intra-day longs who thought this was a one-way ride Support seen at 96.00-10

Tokyo stock exchange halts trading in JGB futures after sharp drop Posted: 04 Apr 2013 09:27 PM PDT down 1 point 10 year bond yields higher seen yen buying on profit-taking/book squaring USDJPY down to 96.35 from 97.19 hihs

ForexLive Asia wrap: Follow through yen selling in Asia today Posted: 04 Apr 2013 09:02 PM PDT The forex trading headlines for Asia trading today No economic data of note today, but plenty of comments crossing the newswires The Federal Reserve's vice-chair Janet Yellen: Will allow inflation >2% slightly and temporarily, and more here BOJ head Kuroda had plenty to say today. Given how much of a driver of yen he is at present its worth referring to all reported comments: link 1, link 2, link 3, link 4 The main opposition party in Japan, the DPJ, said today they would vote to reconfirm Kuroda as the BOJ head; he was subsequently endorsed by the parliament Geroge Soros was interviewed on CNBC, he said the yen fall could turn into an avalanche. And more here – including comments on China's property bubble Japanese bond yields led the way in the morning, falling rapidly as money continued to move in response to the tectonic shifts in BOJ policy yesterday. Yen followed bond yields lower, trading through sell orders ahead of 97.00 in the Tokyo morning, with EUR/JPY higher also, through 125.25. Other currencies were quiet, drifting a little lower on the session. Surprising after the hugely volatile Europe and American sessions, but maybe not surprising ahead of the NFP report due in in the US morning.

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