Your forexlive.com ENewsletter

---

• USDJPY fails to breach 103
• AUDUSD slides again
• Cable barrier at 1.5100 trashed
• UK PSNBR april: GBP +8.035 bln vs +7.00 bln exp
• UK retail sales april: m/m -1.3 % vs 0.0% exp
• BOE MPC minutes: vote on holding QE 6-3 vs 6-3 prev
• Coming up at the bottom of the hour: MPC minutes
• EURCHF on 4 month highs at 1.2545
• Eurozone trade account march: sa EUR + 25.9 bln vs +16.3 bln prev
• EURJPY breaks 133.00 as euro finds good demand
• Gold shines in early trading
• GBPUSD orders
• Kuroda: Change in fx rates will boost export volume but expects a time lag of 6-9 months
• Kuroda: volatility in JGBs remains high. will keep close watch
• Japan’s Suga wants BOJ to continue to steadily achieve 2% inflation target as soon as possible
• European equity markets open mixed
• EURUSD orders
• Kuroda up shortly
• Swissy weakening again ahead of SNB Jordan’s speech later
• Nikkei 225 closes +1.6% at 15,627.26

USDJPY fails to breach 103 Posted: 22 May 2013 01:45 AM PDT high posted 102.99 ahead of 103 sell interest and now back to 102.86 but seems underpinned still EURJPY clinging to 133.00 after high post of 133.20 Add: I’m hearing that funds were selling into the USDJPY rally

AUDUSD slides again Posted: 22 May 2013 01:42 AM PDT Lest we forget another vulnerable pair We saw a dump to 0.9745 in the run up to UK data ( sorry but I’ve only got one pair of hands at the moment as Ryan is delayed in ). Support seen at 0.9730-35 and larger at 0.9700-10

Cable barrier at 1.5100 trashed Posted: 22 May 2013 01:37 AM PDT Didn’t take much in the end to get rid of that obstacle Lower again at 1.5075. next decent  support seen at 1.5050 This will be hurting a few cable bulls but the retail sales figures speak for themselves

UK PSNBR april: GBP +8.035 bln vs +7.00 bln exp Posted: 22 May 2013 01:33 AM PDT +16.75 bln prev ex fin int  GBP +6.3 bln vs+ 8.45 bln exp  +15.14 bln prev PSNCR GBP -10.8 bln vs -31.3 bln prev Borrowing requirements over all improves after stripping out the BOE’s QE coupon transfers and the Royal Mail pension fund

UK retail sales april: m/m -1.3 % vs 0.0% exp Posted: 22 May 2013 01:31 AM PDT -0.7% prev y/y  +0.5 %  vs  +2.0% exp   -0.5% prev Horrible data again Plunging food sales as well as summer items also doing badly amongst the awful weather conditions GBPUSD down to 7 week lows at  1.5085  EURGBP up to 0.8572

BOE MPC minutes: vote on holding QE 6-3 vs 6-3 prev Posted: 22 May 2013 01:30 AM PDT vote on holding interest rates at 0.5%   unch at 9-0 QE left on hold as a move to increase would have surprised markets and created uncertainty over price stability case for more QE based on labour market slack and that euro weakness may  push sterling higher economic conditions had improved in april but Eurozone uncertainties remain a threat Full minutes here

Coming up at the bottom of the hour: MPC minutes Posted: 22 May 2013 01:23 AM PDT along with UK retail sales Pound under pressure still ahead of the event GBPUSD 1.5128  EURGBP 0.8547

EURCHF on 4 month highs at 1.2545 Posted: 22 May 2013 01:05 AM PDT Further to my earlier post and ahead of SNB Jordan speaking at 10.00 gmt Reported barrier option at 1.2550. high so far 1.2549. currently 1.2544

Eurozone trade account march: sa EUR + 25.9 bln vs +16.3 bln prev Posted: 22 May 2013 01:00 AM PDT nsa EUR+ 24.8 bln vs +12.1 bln prev net investment flows EUR-6.1 bln vs -10.6 bln prev Market unimpressed by better numbers  EURUSD 1.2936

EURJPY breaks 133.00 as euro finds good demand Posted: 22 May 2013 12:57 AM PDT Strong buying interest in this pair to post 3 1/2 year highs so far of 133.03 thus popping reported 133.00 barrier Lifting USDJPY to session highs of 102.85 ahead of decent sell interest 102.90-103.00 Good demand for the euro across the board. EURUSD now through Asian highs at 1.2941 ahead of strong sell interest at 1.2950-60 EURGBP higher at 0.8544 in front of 0.8550 sellers.

Gold shines in early trading Posted: 22 May 2013 12:52 AM PDT Up 1% so far to 1390. Support at 1360 held again and now heading toward resistance at 1403.

GBPUSD orders Posted: 22 May 2013 12:43 AM PDT While we wait for Mr K’s Q&A here’s the cable orders . currently 1.5146 Sellers 1.5175,1.5190,1.5200,1.5230,1.5260,1.5280, 1.5300 Buyers 1.5135,1.5115,1.5100*,1.5080,1.5050,1.5035     * barrier option related

Kuroda: Change in fx rates will boost export volume but expects a time lag of 6-9 months Posted: 22 May 2013 12:31 AM PDT More from The Guvn’r expects favourable economic cycle of rising prices, wages and incomes no change in BOJ policy to buy around 50 trillion yen in debt annually USDJPY still 102.65 hang on, its moved ! 102.62  EURJPY 132.66

Kuroda: volatility in JGBs remains high. will keep close watch Posted: 22 May 2013 12:23 AM PDT Here he comes folks ! doesn’t expect long term rates to surge anytime soon sees no big impact of long-term rates on economy now BOJ will alter the frequency and bond-buying terms as needed Nothing new so far USD JPY 102.65   EURJPY 132.65 Real interest rates are probably falling no change in 2% inflation goal in  2 years employment situation improving but regular pay not improved yet USD JPY still 102.65

Japan’s Suga wants BOJ to continue to steadily achieve 2% inflation target as soon as possible Posted: 22 May 2013 12:21 AM PDT chief cabinet sec out on rueters

European equity markets open mixed Posted: 22 May 2013 12:09 AM PDT FTSE -0.1% DAX -0.1% CAC40 -0.1% IBEX +0.1% FTMIB +0.3%

EURUSD orders Posted: 22 May 2013 12:05 AM PDT While we wait for Mr Kuroda here’s what’s out there for EURUSD. currently 1.2920 Sellers 1.2940,1.2950,1.2970,1.2990.13000,1.3015 Buyers 1.2900,1.2880,1.2860,1.2850,1.2840,1.2820,1.2800,1.2780,1.2750

Kuroda up shortly Posted: 21 May 2013 11:31 PM PDT The BOJ governor’s press confererence starts  at 06.30 gmt and assuming it’s not embargoed we can expect to see a stream of comments, and then of course we’ll get the Q&A. Another over-hyped event ? We’ll find out soon enough USDJPY currently 102.58  EURJPY 132.46  AUDJPY 100.30

Swissy weakening again ahead of SNB Jordan’s speech later Posted: 21 May 2013 11:14 PM PDT Cometh another delivery from SNB chairman Thomas Jordan then invariably cometh some CHF weakening as traders again get excited about the possibility of new announcements/policy. Today is no exception and this morning we’re seeing EURCHF consolidate above 1.2500 and posting highs of 1.2543 so far. USDCHF is back above 0.9700 after suffering a sharp reversal to 0.9653 from 0.9752 yesterday amidst the USD sell-off. I don’t expect much from the SNB apart from re-iteration of position but these pairs are definitely going to be in play today after Bernanke’s testimony so worth keeping an eye on.

Nikkei 225 closes +1.6% at 15,627.26 Posted: 21 May 2013 11:06 PM PDT +246.24

You are subscribed to email updates from ForexLive To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610