Latest from the FXWW-RM chat-room
5:40:59 amCS FX Strategist – Japanese portfolio flow monitor:
5:41:43 amCS Jap Flow Monitor.pdf
7:08:50 amMorning all. More trailing stops reported above 1.4390 in EUR/AUD. Also plenty of sell orders being reported in the AUD/USD at regular intervals between .9250/.9350.
7:09:40 amUSD/JPY very steady overnight near 99.50, still prefer the buy-dips play
7:10:18 amCable of course will be aiming at 1.5750 resistance, a breach of which would put a double-bottom in place
7:31:37 ammorn Sean
7:32:33 amAfter USDJPY, Nikkei, AUDJPY etc have all broken out of similar triangle patterns to the topside… guess we need to consider whether EURJPY is next….. https://www.tradingview.com/x/SsMHunPj/
7:43:29 amGood point mate, nobody is bullish EUR which means it probably does break higher
7:44:19 amyup worth keeping on the radar at least
7:54:14 amyes its interesting here….starting to look a bit ‘wedgie’ on the hourly
8:01:00 amBofAML intro, USD bullish sentiment waning: ” Today was one of the lightest FX volumes of the year following poor important US economic data on Friday. Buyers of USD really did not show up after the Olympic driven euphoria in Asia. Many were concerned USDJPY did not close above 100.00. CTAs were early movers cutting USD long exposures and buying EUR crosses though few discretionary managers wanted to follow. Sentiment is bullish the USD, though an increasing number of conversations with portfolio managers today suggests the mood is turning. Inaction in Syria, questions over the appointment of Larry Summers to the FOMC, weak US NFP all point to questions rather than answers. “Liquid Cross Border Flows” illustrates a market long USD versus many pairs and new USD buyers may want to wait until after September 18. Our commodities team point out the gold market is not positioned for a possibility that tapering could be delayed. If so, we could see a rather swift rally that could take gold into the high 1400s, as there are stops above 1425 and 1450. A listed October 1500 call (4 delta) is around $2. This expires on the 25th of September, so you will capture the FOMC announcement and a few days afterwards in case there is proper follow through. It seems like a cheap tail hedge if the FOMC delays tapering. US Treasuries also held up pretty well before the very large Verizon bond issuance goes into full swing tomorrow.
8:41:15 amMorning all, quoting Sean: “If bulls break through,%2… (Story)
8:47:09 amMorning 42, you are an early riser 🙂 Looking like it might be a very quiet one today. Corporate buyers in EUR/AUD was main overnight flow as well as modest EUR/GBP short-covering.