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Brief overview of Asian trade

  • Yen weakened again after comments from Japanese PM Abe that BOJ must attain 2% inflation target:
  • EUR/JPY opened slightly above its 119.00 closing level, gapped quickly from 119.20 to 119.70, and slowly moved to test 120.00:
  • AUD triggered trailing stops below 1.0525 after more poor domestic economic data, this time job ads and house financing:
  • Chinese stocks rise by over 2.5% after a down-day on Friday, Nikkei closed for public holiday:
  • Fed’s Evans comfortable with current policy, should create more jobs, will exit QE if successful:
  • China FX regulator looking at other ways of using FX reserves.

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7 Comments

  1. Papillon2013-01-14 17:20 Reply

    Good morning Sean,

    Friday was a good day for your trades (EUR/CHF, EUR/GBP) ;-). From my side, I had a good sentiment on EUR but I have never catched the right level on EUR/GBP or EUR/USD after the ECB meeting.

  2. Sean Lee2013-01-14 17:40 Reply

    Yeah, its tricky after we’ve been in range trade mode for so long on EUR. I think EUR/CHF also worth watching, maybe look for dips 12170ish? There will always be pullbacks I think but feels like mkt is undergoing big mood change imho

  3. Papillon2013-01-14 17:51 Reply

    Sean,

    This morning AUD looks tired to go higher ? Whad do you think with this trade : short at this level with SL above 1.060 ?

  4. Sean Lee2013-01-14 18:05 Reply

    I sorta like this trade on intraday basis. 10450/10600 looks like range and EUR/AUD is well bid. On negative side, Chinese shares +3% today so risk definitely on in equity markets

    • Papillon2013-01-14 18:22 Reply

      > Thanks. I will be patient this morning with this pair.

  5. Milan2013-01-14 18:07 Reply

    Hi Sean,
    What do you think about that 1.06 barrier? Should be triggered soon, although timing is everything and the Aussie price action is strange lately.

  6. Sean Lee2013-01-14 18:17 Reply

    Sell orders were v v heavy around 10600 and interbank guys were pretty sure 1st time that it wud hold. I’d guess that it will hold 2nd time also and then 3rd time will break?

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