Category in Flows and Orders

GBP looking friendlier after strong PMI data yesterday

The GBP is looking stronger on the crosses after yesterday’s strong (and leaked) PMI data. EUR/GBP is edging back towards it’s important pivot at .8600 and GBP/AUD made fresh highs above 1.7250. It’s by no means a completely bullish picture on the crosses, with GBP/JPY still being capped below 151.50 (which is where macro funds

USD/JPY: Still favour lower, but will stay choppy

No major change to my outlook here, I still think that we will gradually trade lower over coming weeks but we will also find long periods of range trading. Presently we seem to be caught between 97.50 and 100.00 and trading as close as possible to the edges of this range makes good risk-reward sense.

USD/JPY: Solid demand but not much bounce yet

Our hedge fund insider @FXWW888 is reporting that Japanese Lifers have been noted buyers in recent trade near 98.90. Prime brokers are also reporting solid demand near 98.65/70 but despite all this demand, the pair isn’t bouncing much! The crosses, AUD/JPY in particular, are to blame for most of the Yen buying. I’m still short

USD/JPY: Positioning still the great unknown, risk-reward favours bears

Pretty much every analyst you listen to is trying to outdo one other with their bullish USD/JPY calls; 105 is conservative, 110/115 is normal, and only calls for 125 or 200 (as in one case) are getting much airtime. The case for the bulls seems watertight; USD sentiment is bullish and their economy is seemingly

NZD/USD under pressure in early European trade

Technical resistance around 78.60 in NZD/JPY (see chart) has held nicely and straight NZD/USD has taken a bit of a hit in early Europe. I don’t trade the Kiwi but with AUD/NZD starting to attract profit takers and with NZD/JPY starting to obey technical signals, selling the NZD/USD on rallies looks like the way to

Quiet in Asia apart from few stop-loss runs

Gold triggered stops below $1300 as USD bulls return ahead of NFP USD/AXY also busy with solid demand reported across most regional currencies. AUD/USD stops triggered below prior lows at .8910 after low PPI readings. All about the NFP lottery tonight and the fact that the USD bounced back so strongly after MSCI-related selling earlier