Your forexlive.com ENewsletter

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• UN chief says N Korea can not keep confronting the security council
• Eurozone sentix investor confidence march: -17.3 vs -13.1 exp
• Euro higher but faces resistance
• Order board: AUDUSD
• Order board: JPY
• EURJPY pops 128.50 barrier. USDJPY touches 99.00
• Order board: EURGBP
• Order board: GBPUSD
• Swiss Q4 industrial orders: y/y -2.4% vs +1.4% prev
• In case there was any doubt – BOJ receives authority to purchase ETFs and REITs
• German fin min says Portugal must make new savings meausures after constitutional court ruling
• Order board: EURUSD
• Nikkei closed higher again. up 2.8% at 13,192.59
• Trading Ideas
• Japan economy watchers poll march: 57.2 vs 53.7 prev
• Option expiries 10am NY cut
• S Korea fin min says they should not use fx intervention to counter JPY depreciation
• RBNZ’s Spencer says concerned about recent house price rises
• ForexLive Asia wrap: Yen weakness trend continued in early Asian trade
• Amari: Declines to comment on currency

UN chief says N Korea can not keep confronting the security council Posted: 08 Apr 2013 02:10 AM PDT Mr Ban Ki-Moon on reuters says they can not keep challenging the international community says a nucler test by NK would be a provocative measure  violating UN resolution

Eurozone sentix investor confidence march: -17.3 vs -13.1 exp Posted: 08 Apr 2013 01:32 AM PDT -10.6 prev EURUSD a little lower at 1.3008

Euro higher but faces resistance Posted: 08 Apr 2013 01:30 AM PDT The euro has had a leg-up from the EURJPY buying and we’ve now posted new session highs 128.76 EURUSD and EURGBP also at new session highs of 1.3017 and 0.8503 but all pairs are approaching more sell-orders in the close vicinity with EURUSD facing perhaps the largest resistance at the 1.3050 barrier option level.

Order board: AUDUSD Posted: 08 Apr 2013 01:20 AM PDT offers 1.0400, 1.0420,1.0430,1.0450,1.0480, 1.0500 ( option barrier) bids 1.0345-50,1.0335,1.0320,1.0300,1.0280, 1.0270,1.0250

Order board: JPY Posted: 08 Apr 2013 01:12 AM PDT After this morning’s action so far here’s what’s left out there. And I posted earlier about large ( usd 1 bln +) expiries today ( 10 am new york) at 97.00,98.00,98.25 and 98.50 USDJPY offers 99.25. 99.50 ( both option barriers) 99.60, 99.75, 100.00 ( both option barriers) bids 98.50,98.30,98.00,97.60,97.50 EURJPY offers 128.80, 129.00,129.50,130.00 ( all option barriers),130.30, 130.50 ( option barrier) bids  128.25,127.75,127.25,127.00,126.50

EURJPY pops 128.50 barrier. USDJPY touches 99.00 Posted: 08 Apr 2013 12:40 AM PDT Just goes to show anyone trying to fade this yen weakness is going to get burnt unless you’re quick to book any profit on the dip USDJPY posted 99.00, it’s highest since May 2009 Japanese buying interest noted

Order board: EURGBP Posted: 08 Apr 2013 12:30 AM PDT offers  0.8520,0.8550,0.8560,0.8580 bids  0.8460,0.8450,0.8435,0.8400

Order board: GBPUSD Posted: 08 Apr 2013 12:24 AM PDT offers 1.5360,1.5390-1.5400,1.5415,1.5450,1.5470 bids  1.5300,1.5280,1.5250, 1.5215,1.5200,1.5160

Swiss Q4 industrial orders: y/y -2.4% vs +1.4% prev Posted: 08 Apr 2013 12:16 AM PDT prev figure revised up from -0.7% so little net effect noted

In case there was any doubt – BOJ receives authority to purchase ETFs and REITs Posted: 08 Apr 2013 12:01 AM PDT This came out earlier, without any appreciable market impact at the time – just posting it for completeness sake: From the BOJ: Source: BOJ website There wasn’t any doubt this was being done, this just makes it official. Document is here. Back to Mike at headquarters

German fin min says Portugal must make new savings meausures after constitutional court ruling Posted: 07 Apr 2013 11:43 PM PDT Mr Schaueble being quoted in radio interview

Order board: EURUSD Posted: 07 Apr 2013 11:36 PM PDT offers 1.3010,1.3030,1.3050,1.3080,1.3100,1.3130 bids 1.2960,1.2950,1.2935, 1.2900,1.2890 ( stop loss selling if breached)

Nikkei closed higher again. up 2.8% at 13,192.59 Posted: 07 Apr 2013 11:08 PM PDT up 358.95 points

Trading Ideas Posted: 07 Apr 2013 10:56 PM PDT As we wait for the european session to kick in let’s have your trading ideas for the today. Have your thoughts changed on the price action we’ve seen since friday’s jobs data? Is it time for a re-think? Or is it all just a knee-jerk reaction? Reasons welcome as usual but not obligatory

Japan economy watchers poll march: 57.2 vs 53.7 prev Posted: 07 Apr 2013 10:04 PM PDT 5th rise in a row forward looking index 57.5 vs 57.7 prev.. 1st fall in 5 months

Option expiries 10am NY cut Posted: 07 Apr 2013 09:41 PM PDT USDJPY  95.00,95.50,96.00,96.50,97.00,98.00,98.25,98.50, ( bold type each USD 1 bln) EURUSD 1.2800,1.2920,1.2950,1.3115,1.3250 AUDUSD 1.0435 EURJPY 124.00,125.50,127.00

S Korea fin min says they should not use fx intervention to counter JPY depreciation Posted: 07 Apr 2013 09:24 PM PDT says the spillover from japan’s monetary policy worth discussing globally will meet with his japanese counterpart in washington later this month

RBNZ’s Spencer says concerned about recent house price rises Posted: 07 Apr 2013 09:15 PM PDT dep gov on reuters says could cause shock to financial system if rapid price drop seen but says it’s critically important to avoid another costly housing boom

ForexLive Asia wrap: Yen weakness trend continued in early Asian trade Posted: 07 Apr 2013 09:02 PM PDT The forex trading headlines for Asia trading today Japan February trade balance -Y677.0bn (vs. -Y660.1bn expected) Japan February Current Account Y637.4bn (vs. Y457.5bn expected) Portugal to implement further spending cuts after court ruling on Friday cut revenue measures Merger of the National Bank of Greece and Eurobank suspended UK: Lloyds TSB Consumer Barometer Job Prospects % Balance -45 (vs. -44 prior) New Zealand Treasury monthly economic report: Drought to curb economic growth $A, yuan convertibility announced today – market makers named Mitsubishi finance arm in talks to buy US loan book BOJ purchasing 1Trln yen worth of JGB with maturities > 5 years but <10 years this week BOJ purchasing 200 bn yen worth of JGB with maturities >10 years this week Australia March construction PMI 39.0 (vs. prior of 45.6) ANZ Total Job Advertisements for March -1.5% m/m (vs. prior of +3.0%) USD/JPY gapped a little higher to around 97.80 from its New York closing level and never looked back. It traded steadily higher in the early morning market. I reached 98.59 before sharply falling to 98.08 before snapping back to new highs at 98.78 – this volatility all coming in a 10 minute time period. Into the Tokyo morning it made new highs again around 98.80/85 before settling around 98.35/45. It ticked higher again after the Tokyo lunch break. EUR/JPY traded strongly higher with USD/JPY during the morning. EUR/USD, conversely, gapped 30 points lower, opening around 1.2975 in New Zealand. Volatility in this pair, though, was absent until a few hours later when it closed the gap on the back of EUR/JPY buying. It got above 1.3000 very breifly when USD/JPY made its days highs, and settled around 1.2990 for the rest of the session. GBP/USD traded similarly, gapping lower and the closing the gap before settling at 1.5330/35. AUD had a limited range – it opened in New Zealand time around 1.0370, grinding eventually lower to 1.0345/50 before finding support as Tokyo opened, taking it back above 1.0375 before stabilizing around 1.0370/75.

Amari: Declines to comment on currency Posted: 07 Apr 2013 08:57 PM PDT Japan’s economy minister Amari spoke to reporters in Tokyo. Although he declined to comment on the yen level I’m sure he had trouble keeping a straight face.

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