FXWW News

China and Japan back today

Regional sharemarkets should get another boost today as China and Japan return and start playing catch-up. Most of the economic news and forecasts surrounding Asia has been quite positive so perhaps 2013 could be Asia’s year (again).

HSBC China services PMI comes out at 01:45 PMI and the market will be looking for a slight improvement from 52.1 last time.

By the way, hope you all bought iron ore on September 5th last year as the price rose to almost $150 last night, a mere 73% rise in 4 months!

  1. Good day Sean, Can you plz guide me what is the best way to hedge GBP/USD. I buy GBP against dollar @ 62.90 but heavy selling since then make it quite vulnerable. I think it can still go down to 1.60 before any retracements. Any opinion, to hedge GBP to that point? Thanks buddy and have a successful new yr to you 🙂

  2. Hi Pete, you might be tested on this one but personally I think you might be ok with this trade. Obviously 16200ish will be toppy short term so I’d reduce on any rallies of 75/90 pips. There could be dips to 160 but try to hold nerve I think if it happens. Hard to guess levels at this stage so keep watching it closely. Sorry not lot of help and if unsure, maybe reduce positn by 50% on a 40/50 pip rally?

  3. Another possibility is to turn part of position into cross play, ie sell AUD/USD or EUR USD especially when NFP is due. This is good way of reducing risk around event time

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