Category in AUD,NZD

USD sitting at interesting intraday levels against other majors

EUR/USD: Back trading around 1.3635/40 which was the major breakdown level. The market has been building shorts ahead of the ECB and we may see fairly tight ‘nervous’ trailing stops above this level; Cable did a lot of work around 1.6765/75 on the way down and purely from a price-action perspective, I’d expect resistance to

USD/JPY: Next on the ‘get all stops done’ list

Yesterday we saw a stop-loss run in EUR/USD down through 1.3650 and with EUR/JPY now firmly entrenching itself below 140, it’s probably safe to assume that the downside will stay in focus in USD/JPY. It’s Friday, risk-off day in most markets when positions are trimmed pre-weekend, and those well-chronicled stops below 101.15 will most likely

Unrest in Vietnam could impact on risk appetite and the AUD

There is growing unrest in Vietnam with some Chinese factories having been burnt down and also unconfirmed reports of casualties. This is related to a Chinese oil-rig which is parked off the coast of Vietnam in disputed waters. Any escalation will have an impact on regional risk sentiment and of course anything China-related will affect