Your forexlive.com ENewsletter

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• BOE says net lending fell 300m in Q1
• USDJPY orders
• AUDUSD orders
• USD/JPY on the brink of the abyss as 100.03 trades
• May UK manufacturing PMI 51.3 vs 50.2 exp
• EURUSD orders
• GBPUSD orders
• PMI prove positive for euro
• May EZ manufacturing PMI 48.3 vs 47.8 exp
• May German manufacturing PMI 49.4 vs 49.0 exp
• May French manufacturing PMI 46.4 vs 45.5 exp
• May Italian manufacturing PMI 47.3 vs 46.2 exp
• USD/JPY through 100.20
• May Swiss manufacturing PMI 52.2 vs 50.9 exp
• May SPanish manufacturing PMI 48.1 vs 44.7 Prior
• European stock open 3 June
• GBP/USD cracks through resistance at 1.5240
• France’s Montebourg says a slightly weaker euro is needed
• May Australian commodity price index 87.0 vs 86.2 prior
• French finance minister Moscovici: Banks will have to detail activity by country

BOE says net lending fell 300m in Q1 Posted: 03 Jun 2013 01:50 AM PDT A report on the funding for lending scheme. BOE’s Paul Fisher says that The picture of flat lending growth overall is broadly as expected at this stage He went on to say that the plans of the FLS participants suggest that net lending volumes will pick up gradually through 2013 Since the FLS came in last August banks have drawn down £16.45bn but lending over the same period has fallen by £1.79bn

USDJPY orders Posted: 03 Jun 2013 01:45 AM PDT Sellers 100.40,100.50,100.70,100.95,101.00,101.25,101.40,101.50,101.70,101.80 Buyers 100.00,99.90,99.80,99.70,99.50,99.40,99.20,99.00

AUDUSD orders Posted: 03 Jun 2013 01:38 AM PDT Sellers  0.9650,0.9660,0.9680,0.9700,0.9720,0.9740 Buyers 0.9620,0.9590,0.9570,0.9550,0.9540,0.9525,0.9500 ( barrier related)

USD/JPY on the brink of the abyss as 100.03 trades Posted: 03 Jun 2013 01:33 AM PDT Looking very much like 100 is going to go. Question is will it go big time or will this be a stop flush. If we break there’s strong support 99.62 and at the 38.2 fib from the April swing up at 99.54 I’ve taken a long at 100.10 with a stop reverse at 99.85. “He who dares, Rodney”

May UK manufacturing PMI 51.3 vs 50.2 exp Posted: 03 Jun 2013 01:28 AM PDT Prior 49.8 revised to 50.2. Orders jump to 53.7 from 51.4 and the highest since March 2011 Cable up to 1.5285 next stop 1.5300

EURUSD orders Posted: 03 Jun 2013 01:27 AM PDT Sellers  1.3050,1.3060,1.3070,1.3080,1.3100,1.3120,1.3130 Buyers 1.3015,1.3000,1,2985,1.2950,1.2920,1.2900

GBPUSD orders Posted: 03 Jun 2013 01:21 AM PDT Good day everyone. Back on dry land and raring to go! Thanks to Ryan for covering the early shift. First up here’s the cable order board Sellers  1.5280,1.5290,1.5300,1.5310,1.5325,1.5350 Buyers 1.5245,1.5210,1.5190,1.5170,1.5160,1.5145,1.5120,1.5100

PMI prove positive for euro Posted: 03 Jun 2013 01:18 AM PDT EUR/USD into 1.3043 after confirmation that Europe’s biggest economies manufacturing picture is improving. GPB/USD also taking flight now up to 1.5268. UK manufacturing PMI at the bottom of the hour (8.28 gmt). We were last at 49.8 and a read above expectations at 50.2 will be a welcome boost to the UK. Looks like cable is anticipating a good figure. If we get a poor read then any falls may be a good opportunity to fade given the trend against the dollar today.

May EZ manufacturing PMI 48.3 vs 47.8 exp Posted: 03 Jun 2013 12:58 AM PDT Prior 47.8 15 Month high Output index to 48.8 from 46.5 in April Output prices falls to 47.6 from 47.9 in April lowest since Jan 2010

May German manufacturing PMI 49.4 vs 49.0 exp Posted: 03 Jun 2013 12:53 AM PDT Prior 49.0 Highest since Feb That was the one the market was waiting for as EUR/USD hit a high of 1.3037

May French manufacturing PMI 46.4 vs 45.5 exp Posted: 03 Jun 2013 12:48 AM PDT Prior 45.5 13 month high for the index The big Germans next then the EZ PMI

May Italian manufacturing PMI 47.3 vs 46.2 exp Posted: 03 Jun 2013 12:43 AM PDT Prior 45.5 PMI output index rises to 46.8 from 45.4 in April I think we can say that the PMI’s are coming out rosy. The French are next

USD/JPY through 100.20 Posted: 03 Jun 2013 12:42 AM PDT To lows of 100.15 GBP/JPY reversing cable strength and falls from highs of 153.25 to 152.70. EUR/JPY to 130.33 from 130.85 and putting pressure of EUR/USD which has fallen to 1.3009

May Swiss manufacturing PMI 52.2 vs 50.9 exp Posted: 03 Jun 2013 12:30 AM PDT Prior 50.2

May SPanish manufacturing PMI 48.1 vs 44.7 Prior Posted: 03 Jun 2013 12:16 AM PDT New orders 49.5 from 43.0 in April Still below the important 50 mark but it looks like Rajoy’s hints are playing out. Over the weekend he said that we should watch data this week for signs of a continued improvement.

European stock open 3 June Posted: 03 Jun 2013 12:11 AM PDT FTSE -0.3% Cac-0.4% Dax -0.7% Ibex -0.6% FTSE MIB -0.7% In the bonds (10′s) Italy 4.18% +2bp Spain 4.45% +2bp Germany 1.50 flat Nikkei closed at 13261.82 -512 points or 3.72% JGB’s at 0.80 % -5bp

GBP/USD cracks through resistance at 1.5240 Posted: 03 Jun 2013 12:02 AM PDT Holding just below 1.5250, although that is the high, and continuing on from Friday’s run up. Next resistance is at 1.5268, 55 dma at 1.5274, stronger resistance at 1.5285/90, the 50 fib of the May hi/lo at 1.5299 and 200 H4 ma at 1.5309   EUR/USD also looking up hitting highs of 1.3032 but still firmly entrenched in the 1.28/1.32 range.

France’s Montebourg says a slightly weaker euro is needed Posted: 02 Jun 2013 11:50 PM PDT ECB is remarkably inactive on euro.  Arnaud Montebourg is French minister for industrial renewal

May Australian commodity price index 87.0 vs 86.2 prior Posted: 02 Jun 2013 11:32 PM PDT Price index revised to 85.5 from 86.2  Commodity SDR -8.6% vs -6.5% prior y/y. Revised to -7.3%

French finance minister Moscovici: Banks will have to detail activity by country Posted: 02 Jun 2013 11:26 PM PDT Disclosure rule scope remains to be defined Speaking in an interview on French radio

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