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- USD/JPY trapped by the option trades?
- EURUSD targetting 1.2900
- Eurozone M3 money supply april : y/y +3.2% vs +2.9% exp
- Italian manufacturing sentiment may: 88.5 vs 88.3 exp
- EURUSD orders
- German unemployment change may: m/m sa +21k vs +5k exp
- Coming up at 07.55 GMT: May German unemployment
- USDJPY triggers stop-loss selling as sellers dominate
- European equity markets open lower
- Cable rallies to test 1.5050 resistance
- USDJPY lower again at 102.05
- Does trading really need nerves of steel?
- Swiss consumption indicator april: 1.46 vs 1.24 prev
- Nikkei closes higher, but only just
- Cable looks soft but defence of 1.5000 seen
- AUDUSD posts new session lows
- UK’s Osborne sharpens the knives to achieve further spending cuts
- Data coming up in this session
- Option expiries 10am NY cut
- ForexLive Asia Wrap: PIMCO reports sees Australian dollar continue to fall
| USD/JPY trapped by the option trades? Posted: 29 May 2013 01:31 AM PDT According to the jungle drums (and reader verik, who knows his onions) there are some reportedly large options going off around 31st May/1st June. Added with possible month end flows means that the range is being kept fairly tight. I mentioned yesterday that the rally to 102.50 didn’t look convincing and we’ve now failed there five times since falling from the 103′s.
We’re heading back towards the rising support line which is at 101.20. We also have the 100 H4ma at 101.47 just behind support at 101.50. It would seem that the pair is in a tussle between the dollar trade and the yen trade. US 10′s & JGB’s are up again, DXY is down slightly, the Nikkei is still fairly volatile. It’s all adding to keeping the pair in it’s range without much emphasis on direction. Playing the edges is the best strategy for short term trading until the picture becomes clearer. |
| Posted: 29 May 2013 01:28 AM PDT The pair has now taken out the sell orders at 1.2880 and posted 1.2889 highs. More offers seen ahead of 1.2900 GBPUSD still fading ahead of sell interest at 1.5070-80. currently 1.5062 Europe now finally coming to rescue AUDUSD again after the pair posted 2- year lows earlier at 0.9528. currently 0.9571 |
| Eurozone M3 money supply april : y/y +3.2% vs +2.9% exp Posted: 29 May 2013 01:04 AM PDT
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| Italian manufacturing sentiment may: 88.5 vs 88.3 exp Posted: 29 May 2013 01:00 AM PDT
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| Posted: 29 May 2013 12:59 AM PDT Sellers 1.2880, 1.2900,1.2920,1.2950,1.3000 Buyers 1.2830, 1.2820,1.2800,1.2780,1.2750
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| German unemployment change may: m/m sa +21k vs +5k exp Posted: 29 May 2013 12:56 AM PDT
EURUSD a little lowerat 1.2860 on the worse than expected unemployment change figure |
| Coming up at 07.55 GMT: May German unemployment Posted: 29 May 2013 12:47 AM PDT Currently seeing EURUSD back to 1.2865 having failed to breach 1.2880 sell interest GBPUSD back to 1.5056 having failed 1.5070 USDJPY 102.70 after posting 101.58 lows but rallies still being sold into |
| USDJPY triggers stop-loss selling as sellers dominate Posted: 29 May 2013 12:21 AM PDT Support at 102.00 and 101.85 now history as stop-loss selling sees a low post of 101.68.. currently 101.73 Next support 101.50 Nikkei futures lower and fund names selling are the prime movers here |
| European equity markets open lower Posted: 29 May 2013 12:09 AM PDT
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| Cable rallies to test 1.5050 resistance Posted: 28 May 2013 11:41 PM PDT A short while ago I posted that GBPUSD had good barrier defence at 1.5000 and that we should see some support off the lows I reported at 1.5008 No sooner said than done ! Now looking to test resistance at 1.5050. currently 1.5045 |
| Posted: 28 May 2013 11:31 PM PDT I’m hearing a good swiss name is behind this latest sell-off from 102.25 Support seen at 102.00 and 101.85 |
| Does trading really need nerves of steel? Posted: 28 May 2013 11:28 PM PDT It’s all relative I guess, but for my money this little feat off Mt Everest puts it all in context. |
| Swiss consumption indicator april: 1.46 vs 1.24 prev Posted: 28 May 2013 11:20 PM PDT Not a game changer USDCHF 0.9752 EURCHF 1.2540 |
| Nikkei closes higher, but only just Posted: 28 May 2013 11:06 PM PDT
A late sell-off has also put a cap on USDJPY once again. currently 102.28 from 102.50 |
| Cable looks soft but defence of 1.5000 seen Posted: 28 May 2013 11:02 PM PDT The pair once again is failing to make any headway on rallies and has just posted session lows of 1.5008. Defence of a reported large barrier option at 1.5000 should provide some support for the moment though. Currently back to 1.5016
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| Posted: 28 May 2013 10:55 PM PDT After a little respite to 0.9570 this pair has just been dumped again and sits on session lows around 0.9537. Seems like Europe’s not coming to its rescue as we start to kick in. Next main support is the 0.9500 barrier option defence but these haven’t had much of an impact on the way down so far. |
| UK’s Osborne sharpens the knives to achieve further spending cuts Posted: 28 May 2013 10:50 PM PDT George Osborne is having to resort to some bully-boy tactics in a bid to achieve his stated cuts ahead of his annual spending review on 26 June to cover 2015-2016 Having yesterday announced cuts of GBP2.5 bln agreed with seven government departments he is now turning to the use of a “star chamber” to persuade those ministers more reluctant to part with another GBP 11.5 bln. The star chamber is a cabinet committee, whose members will meet to discuss the spending round in broad terms and, if necessary, interrogate individual ministers who refuse to reach an agreement with the treasury. This annual review only covers spending for one year, instead of the usual three-year period, because the two coalition parties intend to go into the general election with different spending plans for the next parliament.But the 2015 general election will not take place until after the 2015-16 financial year has already started, so the government has decided that it needs to produce detailed spending plans to cover that year.
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| Data coming up in this session Posted: 28 May 2013 09:52 PM PDT Good day everyone, First off, commiserations to the Black Caps but I don’t think anyone really thought we’d struggle on home turf. The Kiwis have some good players. Now they need to build that into a team that can compete better on all fronts. Bring on the Ashes! Market wise, I’m not sure what to make of these levels. USDJPY still has plenty of sell interest on the rallies to keep it pinned down for a while. The Aussie dollar looks desparately in need of some love and afffection so we need to see whether Europe has the desire to buy again, and overall the USD looks underpinned still but needs to hammer home the advantage a little more to look convincing. Data wise we’ve a got German unemployment, CPI and UK distributive trades as our main highlights at 07.55, 10.00 and 12.00 gmt. Good luck out there folks. Times BST ( GMT+!)
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| Posted: 28 May 2013 09:23 PM PDT
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| ForexLive Asia Wrap: PIMCO reports sees Australian dollar continue to fall Posted: 28 May 2013 08:52 PM PDT The forex trading headlines for Asia trading today, Wednesday May 29
There was early (or late New York, if you prefer) USD strength to get the ball rolling today, especially against the NZD and AUD. EUR/USD and GBP/USD fell away a little but the European currencies were not where the action was. AUD and NZD drifted toward their earlier overnight lows. AUD//USD was hit lower very hard a few minutes after the PIMCO headlines hit the wires (see bullets, above), with NZD dragged lower along with it. AUD/USD continued to trade in a heavy fashion for the rest of the day, registering a low of 0.9547 before finding a little support. The bounce was limited to 70/75 and it goes into early Europe (as of writing) around 0.9560. USD/JPY had a bit of movement today, getting as high as 102.50/55 in the morning, but losing ground as the Nikkei stock index lost ground, back to 102.00/05 before stabilizing. It tracked sideways for the balance of the session and ticked a little higher into very early Europe around 102.22/27 as of writing. The Nikkei opened strongly today and traded immediately higher but could not sustain gains and soon fell below opening levels, finding some support below 14300. |
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