First thing this morning we saw a sharp move higher in USD/CNY, orchestrated by agent banks of the PBOC. Their ploy was obviously to force the big speculators out […]
GBP/USD: Major flows expected in next week as Vodafone/Verizon deal closes
It’s always difficult to gauge exactly how much still needs to be done or even how much will be done in total but I think it’s a safe guess […]
EUR/USD: Starting to feel very well ‘bid’
I admit I’ve said the same thing before in recent months, and I’ve also said exactly the opposite, and each time the demon range-trader has come out to make […]
AUD/USD: Large option expiries driving end-of-week sentiment
- AUD/USD failed again near .8980 after the RBA policy statement;
- 2 billion expiry later tonight at .8940 and another 1 billion at .8900 ensured that the sellers didn’t wait too […]
GBP crosses hit hard as trailing stops kick in; GBP/JPY technical support at 164.00
GBP/JPY was the main mover yesterday driven by a carnage of trailing stops across the board; USD/JPY stops below 101.70 were indeed sizeable, Cable stops post-data were also significant […]
USD/JPY: Market expecting semi-official bids near 101.80.
Last time that USD/JPY traded under 102.00 there were reports in the market that semi-official players like Kampo were on the bid. I can’t confirm it yet, but the […]
Quick look at order books in early Asian trade
Not much happening in the FX market this morning despite lower stockmarkets across the region.
- USD/JPY turnover above 102.75 was extremely heavy yesterday with Prime Brokers suggesting that macro longs […]
First move of the day was obviously stop-loss driven
- Nikkei has opened 2.6% lower but is edging higher in early trade;
- Gold is +$7;
- USD/JPY has rebounded from it’s stop-loss drive below 102.00 to be back at opening levels near […]
USD/JPY gapping lower in early Tokyo
Just as well we waited for confirmation of those bids at 102.00 as there appears to have been nothing at all. The market gapped straight lower to 101.80 and […]
USD/JPY: Market expecting solid bids at 102.00
- Very quiet start today in Asia with Australian markets closed;
- There is early market talk of solid bids at 102.00 but I would wait for confirmation.
Hard to find any clear signals at the moment but I remain bearish on EUR crosses
- 1.3500 in EUR/USD looks like it might be a key level, if that breaks then look for a sell-rally strategy in EUR pair of your choice;
- EUR/GBP is heading lower […]
USD/CAD takes out barriers; USD/AXJ on march higher
- Large barriers at 1.1000 in USD/CAD have been taken out;
- Emerging Asian currencies are getting hit hard late in the session;
- AUD suffering on back of above two and at intraday […]
AUD/USD still looking heavy
- Asian real money sellers capped the pair on Friday near .8820;
- Sentiment remains bearish as the market plays it as a ‘Chinese credit bubble’ proxy;
- Technical target at .8570, a 50% […]
NZD: Institutional flows heavily negative today
Our analysis of the major interbank platforms shows a heavy slant towards NZD selling this morning. Asian real money names are getting the blame, just as they did yesterday […]
AUD/USD: Battle going on in low .88′s amid heavy turnover
Asian real money names have been the big sellers of AUD/USD since it broke lower yesterday but our hedge fund insider @FXWW888 has been reporting in the chat-room […]
Institutional flows still heavily AUD negative
No let up for the AUD/USD and the break below .8820 has brought even more sellers into the market.
Interbank platforms are still showing some heavy AUD supply although profit […]
GBP: Plenty of demand in early London
Reserve names and real-money funds have been buying GBP against the USD, EUR, JPY and AUD in early London trade (keep an eye on the chatroom for updates).
Levels to watch during European trade
- USD/JPY: Technical resistance at 104.50 and sizeable sell orders at 104.60/65.
- USD/CAD: Barriers at 1.0975 and 1.1000.
- USD/CHF: Stops below .8980.
- EUR/JPY: Strong technical resistance near 143.20.
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