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• GBP/USD busts below 1.49 on crappy UK data
• EURGBP orders
• UK trade balance may: GBP -8.491 bln vs -8.47 bln exp
• May UK manufacturing output -0.8% vs 0.3% exp m/m
• May UK industrial output 0.0% vs 0.2% exp m/m
• Bank of Spain governor Linde sees Q3 growth close to zero
• AUDUSD orders
• USDJPY orders
• GBPUSD orders
• Morgan Stanley see the pound going down the pan
• Swiss retail sales may: y/y +1.8% vs +3.1% prev
• AUDUSD stalls at 0.9200
• Shanghai Comp Index closes up at 1965.45
• European equities open firmer again
• French budget balance may: y/y EUR -72.6 bln vs 69.6 bln
• Cable gets a lift from EURGBP resistance
• Aussie looking perky again
• Gold shines in early trading
• EURUSD orders
• Eurostoxx futures up +0.6%

GBP/USD busts below 1.49 on crappy UK data Posted: 09 Jul 2013 02:01 AM PDT Sorry folks my screens locked up for a few minutes. I was going to post that if 1.4900 held then look for a bounce. Seeing as it’s just traded down to 1.4880 I’ll keep my mouth shut. I was also going to point out that the previously broken long term trendline from May 2010 was also holding up again but that’s gone too. If we retake and hold 1.4900 then we could see the pair recover the data loss. If not then we can probably expect a further push lower. Levels to follow..

EURGBP orders Posted: 09 Jul 2013 01:48 AM PDT Currently 0.8638 0.8651 after the awful UK production data. Large sell interest still between 0.8550-0.8665. I’ve added to my short at 0.8640 to give me an average of 0.8630, protected by a small inherent short cable possie higher up Will re-assess if 0.8670 breaks The eagle-eyed amongst you will no doubt have spotted that I now want EURUSD to tank ! Sellers 0.8650,0.8660,0.8665, 0.8690,0.8700 Buyers 0.8620,0.8600,0.8585,0.8570,0.8550,0.8540,0.8500

UK trade balance may: GBP -8.491 bln vs -8.47 bln exp Posted: 09 Jul 2013 01:30 AM PDT GBP -8.43 bln prev revised down from -8.22bln Non-EU GBP  -4.093  bln vs -3.5 bln exp   -3.43 bln prev revised down from -3.41 bln Not too far off the mark  but non-eu worse than expected Pound slapped on the weaker production data GBP USD 1.4910 from 1.4960 EURGBP 0.8635

May UK manufacturing output -0.8% vs 0.3% exp m/m Posted: 09 Jul 2013 01:30 AM PDT Prior -0.2% -2.9% vs -1.6% exp y/y. Prior -0.5%. Revised to -0.9% OUCH! That’s a substantial kick in the nuts even if they are not a large share of GDP. Cable taking a dive to 1.4923  now at 1.4906 EUR/GBP up into 0.8640

May UK industrial output 0.0% vs 0.2% exp m/m Posted: 09 Jul 2013 01:30 AM PDT Prior 0.1%. Revised to -0.1% -2.3% vs -1.5% exp y/y. Prior -0.6%. Revised to -1.4%

Bank of Spain governor Linde sees Q3 growth close to zero Posted: 09 Jul 2013 01:16 AM PDT He’ll be overjoyed if it’s close to zero Credit may grow again in coming months Negotiating with Spanish banks over softening the impact of Basel III capital rules on deferred tax assets. Spain have actually been very proactive in dropping hints to the market when things have picked up. Last month PM Rajoy claimed that upcoming employment data was likely to be good and thus it was.

AUDUSD orders Posted: 09 Jul 2013 01:14 AM PDT Currently 0.9176 having failed at the strong 0.9200 sell interest I highlighted earlier. Plenty more behind that too Sellers 0.9200,0.9220,0.9230,0.9250,0.9270,0.9300,0.9320 Buyers 0.9145,0.9125,0.9100,0.9085,0.9070,0.9045,0.9025,0.9000

USDJPY orders Posted: 09 Jul 2013 01:10 AM PDT Currently 101.16 Sellers 101.35,101.50,101.60,101.70,101.80,102.00,102.20,102.50 Buyers 100.80,100.70,100.60,100.50,100.40,100.20,100.00

GBPUSD orders Posted: 09 Jul 2013 01:07 AM PDT Currently 1.4957 after the earlier rally ran out of steam at 1.4980 ahead of strong sell interest Sellers 1.4980,1.4990,1.5000,1.5010,1.5030,1.5050,1.5060,1.5080,1.5100 Buyers 1.4950,1.4920,1.4900,1.4885,1.4850,1.4830,1.4800,1.4780

Morgan Stanley see the pound going down the pan Posted: 09 Jul 2013 01:04 AM PDT Morning all Those cheeky chappies at Morgan’s are saying a subdued response to recent UK data points to further lows in GBP/USD. While the service sector is holding up well they don’t see it holding up the pound on its own. They see cable at 1.45 by the end of Q3 and 1.41 by year-end. Do you guys agree or disagree? I can see it maybe having a look down towards 1.45 but unless the US economy kicks in big time and we start going south on our data then I can’t see a sustained push lower.

Swiss retail sales may: y/y +1.8% vs +3.1% prev Posted: 09 Jul 2013 12:16 AM PDT prev month revised down from +3.3% Not a game changer but less impressive than some recent data USDCHF and EURCHF both still looking firm this morning at 0.9655 and 1.2438

AUDUSD stalls at 0.9200 Posted: 09 Jul 2013 12:12 AM PDT I said it was looking perky earlier Fresh wave of buying from Japanese names has seen it take out the 0.9190 offers but strong 0.9200 sell interest is one step too far for the moment High post 0.9199 AUDJPY up to 93.01. now 92.85

Shanghai Comp Index closes up at 1965.45 Posted: 09 Jul 2013 12:09 AM PDT +0.37%

European equities open firmer again Posted: 09 Jul 2013 12:06 AM PDT FTSE  +0.3% DAX +0.7% CAC 40 +0.2% IBEX +0.5% FTMIB +0.4%

French budget balance may: y/y EUR -72.6 bln vs 69.6 bln Posted: 08 Jul 2013 11:50 PM PDT

Cable gets a lift from EURGBP resistance Posted: 08 Jul 2013 11:47 PM PDT With EURUSD struggling to make further advances and with sell interest evident at 0.8620 on EURGBP we’ve seen cable have a little run up to 1.4972 before retreating, with EURGBP back down around 0.8610 Strong sell interest between 1.4990-5000 should be enough to cap the rally from 1.4857 unless we get exceptionally strong UK data at 08.30 GMT. Even then it should remain a tough level to breach. ( famous last words ! )

Aussie looking perky again Posted: 08 Jul 2013 11:35 PM PDT AUDUSD up to 0.9153 to test sell interest between 0.9150-70 ahead of larger interest between 0.9190-0.9200 Currently 0.9148 AUDJPY up to 92.68  EURAUD down to 1.4076

Gold shines in early trading Posted: 08 Jul 2013 11:25 PM PDT A good rally from the Asian lows, based on higher than expected Chinese inflation data High so far USD 1260.50 , just short of the 1267.50 highs of a week ago. A break up through there might have enough legs to test next resistance between 1290-1300 Currently 1257.10 What do you guys think of the recently not so shiny stuff right here ?

EURUSD orders Posted: 08 Jul 2013 11:11 PM PDT Currently 1.2883 Sellers  1.2890,1.2900,1.2930,1.2950,1.2960,1.2990,1.3000 Buyers 1.2845,1.2815,1.2800,1.2790,1.2780,1.2750,1.2720,1.2700

Eurostoxx futures up +0.6% Posted: 08 Jul 2013 11:06 PM PDT DAX futures +0.7% CAC 40 +0.4% Bund futures down 1 tick at 141.93

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