Flows and Orders

Not much to be learned from uninteresting Asian trading session

Probably safe to say that I’m none the wiser after a pretty uninteresting session so far. Like I said this morning, it was always likely to be a session dominated by large orders in pairs like EUR/USD (barrier protection and Sovereign sellers) and AUD/USD (hedge fund sellers). The Yen crosses rose a bit and then returned to their opening levels, so we’re not getting much information from there either.

Other developments today included the announcement of an Australian general election on September 14th and rumours that the FOMC will join in the race to the bottom and try and talk the USD lower. Neither had all that much effect on a listless market.

Risk events tonight include EZ consumer confidence and US GDP data but all eyes will certainly be on the FOMC.

  1. Good evening Sean,

    It was pretty quiet for Asia session.
    Yesterday, we had right to cover on GBP/JPY. The cable has been capped 1.5770 and we have USD/JPY at 90.90, in this backdrop, do you think it better to wait for next move-up on cable to re-open on GBP/JPY ? Or re-open at this level (143.15) to play this GBP/USD capping ? Thanks for the email.

  2. Patience I think Papillon. I’ve just sold small USD/JPY but that gives me now a short CHF/JPY possy along with small long EUR/CHF still. Best wait on GBP I think, we cud see nasty spike in cable post FOMC? Too risky to trade now imho

Leave a Reply

Your email address will not be published. Required fields are marked *