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• EURUSD orders
• BOE’s Fisher does not like gung-ho approach to QE
• Trading Ideas 24 May
• Yen weakness across the board
• Euro rampant after IFO
• EUR/USD back in the range
• Additional orders 24 May
• German IFO business climate may: 105.7 vs 104.5 exp
• May Italian consumer confidence 85.9 vs 86.8
• German IFO coming up at the top of the hour
• European equity update: New highs seen next week
• BOE’s Fisher: negative rates not guaranteed to boost growth.
• BOE’s Fisher: no guarantee that monetary boost will result in UK economic growth
• European equity markets open higher
• French business climate may: +92 vs +89 exp
• Fed’s Bullard: a change to QE would be easing of policy stimulus not an end to it
• Nikkei closes up 0.89% at 14,612.45
• German GFK consumer sentiment june: +6.5 vs +6.2 exp
• German Q1 GDP: q/q +0.1 % vs +0.1% prev
• Data coming up in this session

EURUSD orders Posted: 24 May 2013 02:02 AM PDT Currently off its 1.2987 highs at 1.2977 Sellers 1.3000,1.3020,1.3035,1.3050, 1.3080, Buyers 1.2960, 1.2950,1.2925,1.2905,1.2880,1.2850,1.2820,1.2800

BOE’s Fisher does not like gung-ho approach to QE Posted: 24 May 2013 01:53 AM PDT Unlike the yanks going in all guns blazing, Paul Fisher favours a slow amount of QE over time. No obvious evidence that QE less powerful now than before In US QE has had more impact in recent months than earlier

Trading Ideas 24 May Posted: 24 May 2013 01:41 AM PDT While I start to post up some orderboards now that I’ve got a chance, let’s be having your thoughts and ideas here. Reasons welcome as always, and ” go down the pub” is my current odds-on expected response so try and keep it original!

Yen weakness across the board Posted: 24 May 2013 01:36 AM PDT Not seeing/hearing anything in partuiclaur so maybe some stop-loss panic after earlier lows in Asia/early Europe. In a previous post this morning I mentioned good buying interest on AUDJPY at 98.00.. now 98.70 JPY pairs coming off their highs as I type. USDJPY now 101.95 from a quick jump to 102.11

Euro rampant after IFO Posted: 24 May 2013 01:31 AM PDT EURUSD breaking up through resistance around 1.2980. sell orders lined up approaching 1.3000 currently 1.2985 EURJPY at 132.44 after low post of 130.70 in the Nikkei meltdown

EUR/USD back in the range Posted: 24 May 2013 01:23 AM PDT Despite the volatility everywhere else the euro is still within a fairly tight 500 pip range. As it’s moving up as I type I’ll post the levels then pad it out after First resistance is at 1.2977 then 1.2985 along with the 55 dma & 100H4 ma, then the 200 dma at 1.3006

Additional orders 24 May Posted: 24 May 2013 01:11 AM PDT Morning all USD/CHF Offers: 0.9720 Bids: 0.9630, 0.9600, 0.9570 USD/CAD Offers: 1.0360-70, 1.0400 barriers Bids: 1.0300, 1.0285-90 EUR/CHF Offers: 1.2550, 1.2600 Bids: 1.2440-50, 1.2420, 1.2400

German IFO business climate may: 105.7 vs 104.5 exp Posted: 24 May 2013 01:00 AM PDT 104.4 prev current conditions 110  vs 107.2 exp  107.3 prev expectations 101.6   vs 101.6 exp  101.6 prev Much better than expected . EURUSD up at 1.2952  nsa service sector climate  15.0 vs 12.4 prev sa retail climate +0.1 vs -1.1 prev sa wholesale climate +1.7 vs -5.2 prev

May Italian consumer confidence 85.9 vs 86.8 Posted: 24 May 2013 01:00 AM PDT Prior 86.3

German IFO coming up at the top of the hour Posted: 24 May 2013 12:56 AM PDT Business climate exp 104.5 vs 104.4 prev

European equity update: New highs seen next week Posted: 24 May 2013 12:37 AM PDT My very wise and learned friend in the equity markets who yesterday told us that institutions will be queuing up to buy in these dips  expects to see new highs posted next week He had this to say to me this morning I reckon US markets demonstrated the correct reaction. Don't expect much ahead of long UK/US weekend, but predict a proper bounce on Tuesday/Wednesday with indices testing new all time highs late next week. So maybe still not time to call a top on them just yet. I’ll let you know when he changes his mind!

BOE’s Fisher: negative rates not guaranteed to boost growth. Posted: 24 May 2013 12:28 AM PDT could even have a perverse effect The man is still talking to a business audience in Wales says he wants greater level of bank lending after FLS Everyone here will say Aye to that The MPC menber said: We have looked at whether or not we could cut interest rates further. My own personal view is that negative rates would not necessarily do very much at the moment to boost growth. Could even be perverse. GBPUSD 1.5101

BOE’s Fisher: no guarantee that monetary boost will result in UK economic growth Posted: 24 May 2013 12:13 AM PDT or the inflation outcomes that the BOE want Out on the wires now from Paul Fisher, one of the three in favour of more QE recently. making the comment that much more interesting UK is maybe two-thirds or three-quarters of the way through balance sheet adjustments Nothing really of note from this man but a little reminder that QE is not a guaranteed cure GBPUSD  a little lower at 1.5093

European equity markets open higher Posted: 24 May 2013 12:06 AM PDT FTSE +0.3% DAX +0.4% CAC40 +0.5% IBEX +0.6% FTMIB +0.8%

French business climate may: +92 vs +89 exp Posted: 23 May 2013 11:49 PM PDT +88 prev EURUSD back up to 1.2938 from 1.2927 on the better than expected data

Fed’s Bullard: a change to QE would be easing of policy stimulus not an end to it Posted: 23 May 2013 11:10 PM PDT It’s that man again.. this time speaking on CNBC says US labour market making progress and expects that to continue he’s more optimistic on US economic prospects than most of his FOMC colleagues says “wild card” for economy is inflation coming in lower. doesn’t see that happening by june meeting would want to see signs of inflation moving back to target before tapering QE not surprised to see  market volatility, especially in Japan, after the sharp rises EURUSD on new session highs of 1.2940  GBPUSD 1.5102  USDJPY  101.62

Nikkei closes up 0.89% at 14,612.45 Posted: 23 May 2013 11:03 PM PDT +128.47 points volatile session that saw swings of +/- 3% That’s one less thing to worry about USDJPY 101.75 EURJPY 131.52  AUDJPY 98.48

German GFK consumer sentiment june: +6.5 vs +6.2 exp Posted: 23 May 2013 11:01 PM PDT +6.2 prev highest since sept 2007

German Q1 GDP: q/q +0.1 % vs +0.1% prev Posted: 23 May 2013 11:00 PM PDT y/y  -1.4%  % vs  -1.4% prev Q4 final q/q -0.7%  y/y unchanged bad weather blamed for poor Q1 showing

Data coming up in this session Posted: 23 May 2013 10:54 PM PDT First up at the top of the hour is German GDP and GFK consumer sentiment German IFO follows at 08.00 GMT Times BST ( GMT+1)

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