Your forexlive.com ENewsletter

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• Cable kicked again
• Yen strength spreads
• Trading Ideas 5 July
• UK equities set to keep on rising
• Cable pops 1.5000
• EURJPY orders
• Swiss CPI june: m/m +0.1% vs -0.1% exp
• AUDUSD orders
• Cable gets an early kick lower
• SNB forex reserves fall in June
• European equity markets open mixed
• China to maintain prudent monetary policy
• EURGBP orders
• USDJPY orders
• French trade balance may: EUR -6bln vs -4.5bln prev
• GBPUSD orders
• EURUSD orders
• Eurostoxx up +0.2% in early trading
• Nikkei closes on new session highs +2.08% at 14,309.97
• Nikkei just off its recent session highs going into the close

Cable kicked again Posted: 05 Jul 2013 01:56 AM PDT I did say we should expect a second wave of selling and now we’ve seen it Strong buying interest at 1.4980 smashed. Lows of 1.4971 More buyers lined up at 1.4950 but stop losses below that should trigger further falls to 1.4900-10. Maybe one step too far ahead of NFPs but hey, in these markets we take nothing for granted.

Yen strength spreads Posted: 05 Jul 2013 01:48 AM PDT Nikkei futures lower USDJPY 99.91 EURJPY 128.57 just above good buying interest at 128.50 GBPJPY triggering stop losses and looking oh so ugly at 149.85 AUDJPY 91.52 but avoiding too much damage with AUDUSD looking perky at 0.9160

Trading Ideas 5 July Posted: 05 Jul 2013 01:35 AM PDT As the NFPs loom ever larger let’s be having your current thoughts and ideas to share in this thread Reasons welcome as always

UK equities set to keep on rising Posted: 05 Jul 2013 01:12 AM PDT So says my wise and learned friend Here’s his current thoughts after another positive week for the Footsie, albeit an ugly one for the Pound As the US takes a breather to celebrate its independence, markets continue their unrelenting march higher. I have been noting the underlying trend for a while now and highlighted that the correction of a fortnight ago was a great opportunity to buy stocks. Since then it has been one way traffic, impressive against some gloomy macro events such as Portugal, Greece and Egypt.  The ECB and BoE yesterday cheered investors, not so much by leaving rates unchanged, but by concerted comments on forward guidance, This echoes the Fed and markets liked what they heard, the FTSE putting in a particularly impressive shift yesterday afternoon. The UK recovery trend is intact and despite much to be cautious about, the data shows a recovery is well underway.UK service sector PMIs are now at their highest levels for more than two years and we are seeing the biggest increases in staff hires since 2007, before the financial crisis hit. Note UK manufacturing PMI headline index is also at 25 month highs. Employment in the construction sector is rising at its fastest rate since September and tie that to the Halifax saying house prices are rising at their fastest rate for three years and that is a national picture, not just in the green and pleasant South East.  Mortgage Approvals continue to improve as "Help to Buy" kicks in. Business confidence is at its highest level since 2007, says the British Chamber of Commerce and on the street, Consumer Confidence is at two year highs. UK new car registrations were up 13.5% in June. These figures are facts and do not lie. We are in the early stages of a tangible recovery and long equities remains the play in H2. Continue to avoid anything with Chinese exposure, but look to play the UK recovery names. The Arab spring will not wreck the British summer.

Cable pops 1.5000 Posted: 05 Jul 2013 12:54 AM PDT Reported large barrier option now history.. 1.4996 low post No major drop yet but no rally either so expect a second wave More sizeable buying interest at 1.4980 could hold initial attack What goes up must come down it appears looking at the H1

EURJPY orders Posted: 05 Jul 2013 12:49 AM PDT Currently 129.22 Sellers 129.70,130.00,130.20,130.50,130.80,131.00 Buyers 129.00,128.80,128.65,128.50,128.00,127.50

Swiss CPI june: m/m +0.1% vs -0.1% exp Posted: 05 Jul 2013 12:26 AM PDT +0.1% prev y/y -0.1% vs -0.4% exp  -0.5% prev Stronger inflation data than expected USDCHF and EURCHF just off their highs at 0.9580 and 1.2356

AUDUSD orders Posted: 05 Jul 2013 12:24 AM PDT Currently 0.9145 Sellers 0.9155,0.9170.0.9180,0.9190,0.9200,0.9220,0.9240.0.9250, Buyers  0.9125,0.9100,0.9070,0.9050*,0.9035,( stop-loss selling if breached),0.9000*    * barrier related

Cable gets an early kick lower Posted: 05 Jul 2013 12:19 AM PDT Down to 1.5014 from 1.5046 Strong support between 1.5000-10 as per my order post. Stop loss sellers lined up below there down to next support at 1.4980 EURGBP up to 0.8583 from 0.8571 Not sure which is the main driver here at the moment

SNB forex reserves fall in June Posted: 05 Jul 2013 12:15 AM PDT down to CHF 434.85 bln from 444.1 bln end of May A bit of “support” distinctly possible here given the early june lows around USDCHF 0.9120 and EURCHF 1.2215

European equity markets open mixed Posted: 05 Jul 2013 12:08 AM PDT FTSE +0.1% DAX  +0.2% CAC 40 +0.1% IBEX  -0.2% FTMIB -0.2%

China to maintain prudent monetary policy Posted: 05 Jul 2013 12:03 AM PDT will seek balance between growth and financial reforms So say Chinese govt fin regulators on the wires govt will give banks more power to write of bad loans will strictly ban the provision of new loans to sectors with over capacity will help companies with backward production capacity eventually to exit market

EURGBP orders Posted: 04 Jul 2013 11:59 PM PDT Currently 0.8571 Sellers 0.8580,0.8590,0.8600,0.8625,0.8640,0.8650,0.8690,0.8700,0.8720 Buyers 0.8560,0.8550,0.8540,0.8520,0.8500,0.8485,0.8470,0.8460,0.8445

USDJPY orders Posted: 04 Jul 2013 11:56 PM PDT Currently 100.30 Sellers 100.50,100.70,100.90,101.00, ( barrier option related),101.15,101.25,101.40,101.50 Buyers  100.10,100.00,99.90,99.80,99.50,99.40,99.25,99.00

French trade balance may: EUR -6bln vs -4.5bln prev Posted: 04 Jul 2013 11:46 PM PDT imports EUR 42.1 bln vs 42.3 bln prev exports  EUR 36.1 bln vs 37.8 bln prev

GBPUSD orders Posted: 04 Jul 2013 11:44 PM PDT Currently 1.5046 Sellers 1.5070,1.5080,1.5100,1.5130,1.5150,1.5180,1.5200,1.5220 Buyers 1.5030,1.5020,1.5010,1.5000,1.4980,1.4950,1.4920,1.4900

EURUSD orders Posted: 04 Jul 2013 11:41 PM PDT Currently 1.2897 Sellers 1.2920,1.2940,1.2950,1.2970,1.2980,1.3000,1.3025,1.3035,1.3040,1.3050 Buyers 1.2885,1.2870,1.2860,1.2850,1.2830,1.2820,1.2800,1.2780,1.2750

Eurostoxx up +0.2% in early trading Posted: 04 Jul 2013 11:05 PM PDT FTSE futures +0.3% DAX futures  +0.2% CAC 40 futures +0.2% Bund futures down 2 at 142.27

Nikkei closes on new session highs +2.08% at 14,309.97 Posted: 04 Jul 2013 11:02 PM PDT +291.04 high 14,309.97 low 14,149.50 USDJPY higher at 100.36

Nikkei just off its recent session highs going into the close Posted: 04 Jul 2013 10:55 PM PDT Currently 14,267 from the recent high post of 14,298 USDJPY a little lower at 100.28 from 100.31

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