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• June EZ construction output +0.7% vs -0.3% prior m/m
• USD/CHF bounces from 0.9200 Jan support line in sight
• EURJPY orders 20 August
• Stop loss orders triggered on USDCHF
• USD/JPY takes a dip below 97.00
• AUDUSD orders 20 August
• USDJPY orders 20 August
• Technical levels 20 August
• EURJPY selling drives pairs lower
• EURGBP orders 20 August
• GBPUSD orders 20 August
• EURUSD orders 20 August
• European equity markets open lower
• Shanghai comp index closes down 0.62% at 2072.59
• BHP Billiton gets battered
• Rupee under pressure again
• Eurostoxx 50 futures down 0.5% in early trading
• Nikkei closes down 2.63% at 13,396.38
• German producer prices july: m/m -0.1% vs +0.2% exp
• USDCHF stop loss sellers reported close by

June EZ construction output +0.7% vs -0.3% prior m/m Posted: 20 Aug 2013 02:00 AM PDT Prior revised to +0.5% -3.0% vs -5.1% prior y/y

USD/CHF bounces from 0.9200 Jan support line in sight Posted: 20 Aug 2013 01:44 AM PDT The low is 0.9200 exactly 0.9180 as the dollar comes under pressure. Just below 0.9200 we have the Jan 2013 support line at 0.9183 which has held on the last 2 occasions in June and August. USD/CHF daily chart 20 August 2013 Last Friday I noted that there was potential for a further dip. USD/CHF bulls beware We had the Morgan call for longs and they’ve just been stopped out as it trades 0.9180. The reason I called out the MS shout was not because I didn’t believe in their strategy but because I couldn’t understand their entry level. For me it’s not about trying to be better than the banks or to shout it from the roof tops that they got it wrong or whatever, it’s about looking at the trade and seeing the risks. There are plenty of people who follow bank recs like sheep because they don’t have the ability or experience to see the trade themselves. That inexperience has now seen them out of pocket. Even now as I write we’ve bounced from the support line back above 0.9200. I’ve taken a small long at 0.9185 and, unsurprisingly, hoovered up some EUR/CHF at 1.2305.

EURJPY orders 20 August Posted: 20 Aug 2013 01:23 AM PDT Currently 129.68 having triggered stops at 129.50 earlier and traded down to 129.29 Sellers 129.90 130.00 130.25 130.40 130.50 130.70 131.00 131.10 131.20 Buyers 129.20 129.00 128.80 128.50 128.40 128.20 128.00

Stop loss orders triggered on USDCHF Posted: 20 Aug 2013 01:16 AM PDT On the break of 0.9220 As per my previous post Low 0.9204 Currently 0.9207

USD/JPY takes a dip below 97.00 Posted: 20 Aug 2013 01:11 AM PDT 96.98 the low and we’re back above to 97.10. Swiss pair getting hosed early doors. EUR/CHF runs stops through 1.2300 to 1.2286 USD/CHF holding just above 0.9200 at 0.9205 from 0.9236 GBP/CHF down to 1.4411 from 1.4450

AUDUSD orders 20 August Posted: 20 Aug 2013 01:10 AM PDT Currently 0.9046 having held above the 0.9020 support I highlighted earlier Sellers 0.9070 0.9090 0.9100 0.9120 0.9150 0.9180 Buyers 0.9020 0.9000 0.8975 0.8950 0.8920 0.8900

USDJPY orders 20 August Posted: 20 Aug 2013 01:03 AM PDT Currently 97.04 having just posted o/n lows of 96.98 Sellers 97.35 97.50 97.85 98.00 98.30 98.50 Buyers 96.90 96.80 96.75 96.60 96.50 96.30 96.20 96.00

Technical levels 20 August Posted: 20 Aug 2013 12:57 AM PDT Morning all Here are the levels for Tuesday. Technical levels 20 August 2013

EURJPY selling drives pairs lower Posted: 20 Aug 2013 12:40 AM PDT Stop loss selling on the break of 129.50  has triggered further sales in USDJPY down to 97.06 and EURUSD down to 1.3324 Good buying interest seen at 129.20 Currently 129.32.

EURGBP orders 20 August Posted: 20 Aug 2013 12:24 AM PDT Currently 0.8528 Sellers 0.8535 0.8555 0.8570 0.8585 0.8600 0.8610 0.8620 0.8630 Buyers 0.8510 0.8500 0.8485-80 0.8465 0.8450 0.8420

GBPUSD orders 20 August Posted: 20 Aug 2013 12:20 AM PDT Currently near session lows at 1.5636 Sellers 1.5655 1.5670 1.5680 1.5700 1.5710 1.5720 1.5750 Buyers 1.5625 1.5610 1.5600 1.5585 1.5550 1.5520 1.5500 GBPUSD orders 20 August

EURUSD orders 20 August Posted: 20 Aug 2013 12:17 AM PDT Currently 1.3330 Sellers 1.3355 1.3365 1.3380 1.3390 1.3400 1.3410 1.3420 1.3440 1.3450 Buyers 1.3320 1.3310 1.3300 1.3285 1.3275 1.3265 1.3250 EURUSD orders 20 August

European equity markets open lower Posted: 20 Aug 2013 12:11 AM PDT The  knock-on effect continues into Europe FTSE -0.6% DAX -1.0% CAC 40 -0.4% IBEX -0.6% FTMIB -0.3%

Shanghai comp index closes down 0.62% at 2072.59 Posted: 20 Aug 2013 12:06 AM PDT

BHP Billiton gets battered Posted: 19 Aug 2013 11:59 PM PDT H2 results out just now have shown a dramatic fall in profits for the six months to June to USD 6.12 bln vs 7.18 bln y/y The losses come despite BHP slashing costs and raising output  of iron ore, copper and coal in the face of falling commodity prices. Earlier reports were more upbeat  with forecasters expecting profits around USD 7 bln Not good, and AUDUSD is back down to 0.9038 having tried valiantly to stage a rally through 0.9060 earlier. Stop loss sell orders reported below 0.9030 before more bids between 0.9000-20

Rupee under pressure again Posted: 19 Aug 2013 11:47 PM PDT We’ve posted a few times on the crisis in the rupee and other emerging market currencies, most recently here. The seemingly unstoppable slide since the Fed announced tapering intentions in May has continued today for the rupee and stock makets in Asia’s third largest economy India’s inability to protect it’s currency has naturally led to concerns that foreign investors, who hold more than 50 % of freely traded Indian shares, will start to pull out in large numbers thus adding to the problems. Recent measures to protect the currency, such as restrictive capital controls and increasing the import duty on gold, have had the opposite effect as traders and investors view these as acts of desperation rather than deterrant. The Reserve Bank of India has a real job on its hands when it next meets in September on interest rates to try and strike a balance between protection of currency and restriction of growth. Critics, including many of our Indian readers, are lining up to express dissatisfaction with the government and central bank intervention thus far and demanding that new measures are needed if the fall-out isn’t to gather pace even further. Worrying times for India, emerging markets and the knock-on effect to the global economy.

Eurostoxx 50 futures down 0.5% in early trading Posted: 19 Aug 2013 11:11 PM PDT DAX futures -0.5% CAC 40 futures -0.6% Bund futures up 32 at 140.25

Nikkei closes down 2.63% at 13,396.38 Posted: 19 Aug 2013 11:05 PM PDT No late rally today -361.75 high 13,7309.09 low 13,383.18 USDJPY on session lows of 97.20

German producer prices july: m/m -0.1% vs +0.2% exp Posted: 19 Aug 2013 11:01 PM PDT 0.0% prev y/y +0.5% vs +0.7% exp +0.6% prev

USDCHF stop loss sellers reported close by Posted: 19 Aug 2013 10:58 PM PDT I’m just hearing that stop loss sell orders are building up should 0.9220 break Currently 0.9230

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