Feb 5, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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UK January producer prices data stronger than expected

Posted:

Output prices +0.4% m/m, +3.8% y/y compared to median forecasts +0.3%, +3.7% respectively, y/y highest since December 2008. Input prices +2.0% m/m, +8.4% y/y compared to median forecasts +0.8%, +6.5% respectively, y/y highest since October 2008. Will bolster inflation spectre.  Might even cause some to nudge forward their timeline for a UK ...

EUR/USD rallies back; sell orders, stops noted

Posted:

Asian sovereign buying touted helping lift EUR/USD from 1.3649 low.  No huge surprise there, I guess. We're presently at 1.3685.  Sell orders noted up at 1.3700/10 with stops just above there.

USD/JPY fairly steady, recovers from brief dip

Posted:

USD/JPY at 89.65 is exactly where it was when I arrived 4 hours ago, recovering from an earlier brief dip. During yesterday's aggressive sell-off I had a friendly wager with one of my old mates in the U.S. who works for a forex subscription service.  At 89.70 I said we'd be closer to 90.70 than ...

Cable bounces

Posted:

Cable has recovered it's poise, running into suspected buy interest down at 1.5650/60 (low 1.5655).  Given that some had 1.5688 as fairly important support on way down, guess it might be seen as initial resistance. We're presently just shy at 1.5685.

Cable lower, stops tripped

Posted:

Well, quess we got confirmation of stops through 1.5700 on that swoon. Cable been down to 1.5665 so far, presently at 1.5680. I would hazard a guess they'll be some strategically placed buy orders at 1.5650/60, with stops placed not far below there.

EUR/USD slips lower again; buy orders noted

Posted:

After an eerily quiet start to European trading, EUR/USD has come under renewed pressure, presently at 1.3685.  Talk now of buy orders lined up at 1.3670 (overnight low) down to 1.3650.

Cable off to reasonably steady start

Posted:

Cable at 1.5720 isn't showing much change in early European trade. Talk of 1.5700 option interest, which seems to be getting some defence.  Probably some stops parked just below, but no real confirmation of such as yet. On topside,, sell orders tipped at 1.5750 and then more at 1.5775.

Fears of “Lehman-style” tsunami as crisis hits Spain

Posted:

I  know Sean posted this overnight, but just incase you missed it.  Latest from AEP. 

Peter Schiff on State of the Union address

Posted:

In the past, i've always thought this guy was a little fruity. But he was correct in calling the housing bust, so he deserves credit, where credit is due. I don't agree with him on some things, but I do agree with everything he says in this blogging video. Check ...

I was just reading

Posted:

A Dow Jones piece. Currency analyst at Morgan Stanley commenting on "house's forecast" for EUR/USD being revised to 1.24 by years end from 1.3200 previously.  Healthy old revision.

Amazing what a little volatility can do…..

Posted:

Just looking at our readership figures for yesterday (sorry can't share) and viewing was up an appoxiamate 15% from the previous daily record.  No wonder the servers keep blowing up!!!

Ladies and Gentlemen…….

Posted:

Time is fast running out if you'd like to enter the non farm payroll contest.  It always surprises me a little how few of our readers enter the contest.  Trust me, if you'd seen the t-shirt you'd be clamouring for the chance to win one.  I kid you not!!!! So ...

EUR/USD opens not far from recent lows

Posted:

EUR/USD sits at 1.3705, not too far from the Asian overnight low of 1.3670.  Swiss National Bank intervention to buy the  EUR/CHF cross has lent the EUR/USD pairing some much needed, albeit tenuous, support.  Financial markets continue to  worry about the ability of Greece, Portugal and Spain to address their budget deficit problems, and these worries ...

Confirmation that SNB was involved in selling CHF earlier

Posted:

That's across the Reuters newswires and would seem to confirm what we said over an hour ago that the SNB bought EUR/CHF through the EBS at around the 1.4620 level.

Asian FX market wrap: another wild session with the CHF showing most volatility

Posted:

Not much new news but the FX market remains nervous and volatile USD/CHF traded through 360 pips in a 15 minute period on rumours of SNB intervention Asian stockmarkets lose close to 3% on average Gold stays above $1065; talk of India and China buying at $1050 (another big fall likely if they ...

More bearish news on EUR to greet European traders

Posted:

Thanks to Tajul for the following link, yet another downbeat piece on the EUR this time from the WSJ. Funny how everything looks so much more glum when the currency is on it's knees.

Suggested high of 1.4815 in EUR/CHF

Posted:

Some platforms were suggesting that EUR/CHF had traded above 1.4850 but the high in USD/CHF would seem to have been 1.0800 and this would give a high in the cross around 1.4815. I'm hearing second-hand that the SNB did in fact take EUR/CHF offers on the EBS from the 1.4620 ...

Still no confirmation of SNB action

Posted:

I've spoken with a couple of traders but as yet have no official confirmation that the Swiss National Bank are awake at 4am in the morning in Zurich, terrorising traders on the EBS. I certainly hope they were in the market because otherwise there's gonna be a hell of a ...

How’s this for price action??

Posted:

In the CHF on a Friday afternoon in Asia! USD/CHF from 1.0670 to 1.0785 in 2 minutes, down to 1.0695 in 6 minutes, up to 1.0800 in 5 minutes and now back to 1.0750 at time of writing. That's 360 pips in 15 minutes, how're you left.

EUR/CHF rallies hard: looks like SNB again

Posted:

Looks like there have been some massive mis-hits through the electronic brokers with some saying that the market traded well above 1.4800.
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