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• Bundesbank’s Dombret says central banks will continue generous liquidity policy for some time
• BOE’s Miles: UK recovery quite weak.
• More from Draghi
• Cable testing strong buying levels
• EURGBP orders
• Metal meltdown continues
• EURGBP month-end buying noted
• ECB’s Draghi says monetary policy can not create real economic growth
• AUDUSD orders
• AUDUSD breaks above 0.9300 but fails to hold
• USDJPY orders
• GBPUSD orders
• EURUSD orders
• Rudd throws his hat into the ring
• EURGBP battle going on at 0.8470
• Shanghai Composite Index closes up +0.06% at 1951.50
• European equity markets open mostly firmer
• Germany’s IFO institute revises 2013 growth forecast to +0.6% vs +0.7% prev
• French Q1 GDP final: q/q unchanged at -0.2%
• Japan’s Abe to hold press conference today

Bundesbank’s Dombret says central banks will continue generous liquidity policy for some time Posted: 26 Jun 2013 01:43 AM PDT Not exactly ALL central banks Mr Dombret, so I assume he means European varieties BUBA board member out on reuters

BOE’s Miles: UK recovery quite weak. Posted: 26 Jun 2013 01:38 AM PDT Sees a case for more QE Looking at yield curve essential to assessing monetary conditions Nothing new from the MPC dove GBPUSD 1.5380 still

More from Draghi Posted: 26 Jun 2013 01:33 AM PDT Still speaking in Paris OMT ready to be activated at any time there is need, accompanied by conditionality ECB’s review of banks will have to be credible Yada yada yada, as our absent friend currently on vacation would say

Cable testing strong buying levels Posted: 26 Jun 2013 01:26 AM PDT I said in my first EURGBP post that this pair was being capped and that something had to give Now 30 pips lower at 1.5380 but there is good buying interest down here to 1.5370 as per my orderboard earlier It might take something else to knock it through at the moment but keep an eye on the level of strength in the rally ( and an eye on EURGBP)

EURGBP orders Posted: 26 Jun 2013 01:22 AM PDT Currently 0.8497 after good buying interest at 0.8470 Sellers 0.8500,0.8510,0.8525,0.8540,0.8575,0.8590.0.8600 Buyers 0.8470,0.8460,0.8440,0.8420,0.8400

Metal meltdown continues Posted: 26 Jun 2013 01:17 AM PDT Gold posting further lows  of USD 1234 not seen since Sept 2010. -3% on the day Silver down 5% to USD 18.60. lowest level since Aug 2010 Continuing to be tapering fall-out casualties

EURGBP month-end buying noted Posted: 26 Jun 2013 01:13 AM PDT My earlier post that something was going on down at 0.8470  was timely Talk now of large German buying down there possibly for the usual BUBA month-end demand Seems a bit early but hey, a little front-running never did anyone any harm Suits me, as I did indeed go long down there. Not sure what my target is at the moment but if we get back 0.8500 then I’d be looking for 0.8525 again

ECB’s Draghi says monetary policy can not create real economic growth Posted: 26 Jun 2013 01:02 AM PDT out on the wires . more to follow ECB stands ready to act again when needed limits to what monetary policy can achieve European banking union is essential govts need to do all they can to promote growth

AUDUSD orders Posted: 26 Jun 2013 12:59 AM PDT Currently 0.9295 Sellers 0.9320,0.9330,0.9350,0.9370,0.9390,0.9400 Buyers 0.9265,0.9250,0.9220,0.9200,0.9180,0.9150

AUDUSD breaks above 0.9300 but fails to hold Posted: 26 Jun 2013 12:56 AM PDT For the moment at least Strong sell interest at 0.9300 which held yesterday was taken out in the wake of former PM Kevin Rudd announcing his leadership challenge High post of 0.9313 but now back to 0.9291 I’m still inclined to sell rallies on this pair but it does have decent support in the dips EURAUD down to lows of 1.4039 and currently 1.4060 is lending a helping hand too

USDJPY orders Posted: 26 Jun 2013 12:50 AM PDT Currently 97.49 after last night’s break above 98.00. Good demand still seen around 97.00 Sellers 97.75,98.00,98.25,98.40,98.65,98.75,99.00,99.20 Buyers 97.20,97.00,96.90,96.80,96.60,96.50,96.20

GBPUSD orders Posted: 26 Jun 2013 12:42 AM PDT Currently 1.5412 having failed to hold earlier gains Sellers 1.5440,1.5450,1.5460,1.5480,1.5490,1.5500,1.5530,1.5550,1.5570 Buyers  1.5400,1.5380,1.5370,1.5345,1.5330,1.5300

EURUSD orders Posted: 26 Jun 2013 12:22 AM PDT Feeling the weight of cross selling but still holding above strong support at 1.3050. currently 1.3068 Sellers 1.3085,1.3100,1.3110,1.3130,1.3150,1.3160,1.3175,1.3200,1.3240,1.3270 Buyers 1.3050, 1.3040,1.3030,1.3000,1.2980,1.2950

Rudd throws his hat into the ring Posted: 26 Jun 2013 12:18 AM PDT Former Australian PM Kevin Rudd has just announced that he will challenge PM Julia Gillard in the leadership ballot later today Rudd refrained from taking part in the last one but now must think the timing is right AUDUSD 0.9280 Add: says he will not contest at forthcoming general election in Sept if he loses leadership vote says one of the reasons he is standing is to prevent Liberal Party leader Tony Abbott from becoming PM

EURGBP battle going on at 0.8470 Posted: 26 Jun 2013 12:10 AM PDT I always keep an eye on this pair and I’m looking to go long somewhere down here Seems like someone has an interest to buy at 0.8470 and there’s a real battle going on with the generally softer euro tone on the crosses Causing an impact on cable too which seems bid overall but struggles when EURGBP holds up A break down through 0.8465 could trigger further selling to strong support around 0.8440-45 Something has to give soon

Shanghai Composite Index closes up +0.06% at 1951.50 Posted: 26 Jun 2013 12:05 AM PDT Much better behaved today but I don’t think the pressures have gone away too far

European equity markets open mostly firmer Posted: 26 Jun 2013 12:03 AM PDT FTSE +0.1% DAX -0.1% CAC40 +0.06% IBEX +0.3% FTMIB +0.1%

Germany’s IFO institute revises 2013 growth forecast to +0.6% vs +0.7% prev Posted: 25 Jun 2013 11:59 PM PDT The revision comes in a new report published today Compares favourably with govt and BUBA  forecasts of +0.5% and +0.3% respectively Euro still under a little pressure this morning but EURUSD hanging in there above 1.3050 support for the moment Currently 1.3067 EURJPY 127.48 EURGBP 0.8474

French Q1 GDP final: q/q unchanged at -0.2% Posted: 25 Jun 2013 11:50 PM PDT y/y -0.4%

Japan’s Abe to hold press conference today Posted: 25 Jun 2013 11:45 PM PDT Eamonn mentioned this to me when I arrived earlier, and I included it in my data post but we didn’t have a time on it. I’m now hearing that it’s scheduled for 18.00 local time ( 09.00 GMT) and could relate to a cabinet re-shuffle, which wasn’t due until Sept Not expected to be a real game changer but hey, you never know

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