Mar 27, 2013

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Italian industrial orders jan: m/m -1.4% vs +0.4% exp

Posted: 27 Mar 2013 02:04 AM PDT

  • -1.8% prev
  • y/y -1.3% % vs  -15.3% prev
  • industrial sales  m/m -1.3 % vs +0.8% prev  y/y -3.4 %  vs -6.3% prev

a bit late with these sorry.. otherwise engaged.

Italy downgrade rumours

Posted: 27 Mar 2013 01:20 AM PDT

These have been circulating again this morning and being cited for the move down in the euro.

I can understand a knee-jerk lower when announced if true but largely expected by now surely .

Either way it shows the vulnerable side still for the moment.

USDCHF higher as EURCHF remains under pressure

Posted: 27 Mar 2013 01:14 AM PDT

The correlation on these two pairs is fairly obvious at the moment.

As EURCHF remains under pressure so the weight must be taken by USDCHF  moving higher if we’re not to drift  off even further. I’m sure the SNB will be watching the unfolding events closely.

 

European equity markets open higher

Posted: 27 Mar 2013 01:07 AM PDT

  • FTSE +0.3%
  • DAX +0.3%
  • CAC40 + 0.4%
  • IBEX +0.5%
  • FTMIB +0.1%

Swiss KOF indicator march: 0.99 vs 1.02 exp

Posted: 27 Mar 2013 01:03 AM PDT

  • 1.03 prev

French final Q4 GDP: -0.3% vs -0.3% exp

Posted: 27 Mar 2013 12:50 AM PDT

  • -0.3% prev

EURUSD breaks down through the 1.2825 barrier

Posted: 27 Mar 2013 12:47 AM PDT

Early european move lower. EUR definitely looking heavy and the widely reported 1.2825 barrier option defence has now gone.

More demand between 1.2800-20 will present the next test.

4 month low posted 1.2822.. currently 1.2825

Order board: EURUSD

Posted: 27 Mar 2013 12:42 AM PDT

  • offers 1.2890-2900 ( stop loss buying if breached),1.2920,1.2940,1.3000,1.3020
  • bids  1.2825, 1.2800,( both option barrier related),1.2750, 1.2735

UK: BOE FPC statement up at 09.30 gmt

Posted: 27 Mar 2013 12:35 AM PDT

Along with the final Q4 GDP we also get the Financial Policy Committee’s statement on bank capitalisation.

Traders will be looking for any major change to its previous GBP24-60 bln estimate.

Here’s some more background story and a timely reminder that UK banks don’t look all that pretty either.

Trading Ideas

Posted: 27 Mar 2013 12:07 AM PDT

Yep, it’s that time of day again and with little else to report for the moment let’s have your input into this ever popular thread

Reasons welcome but not obligatory.

Switzerland: UBS consumption indicator feb: 1.26 vs 1.15 prev

Posted: 27 Mar 2013 12:02 AM PDT

  • prev revised down from 1.18

German import price index feb: m/m +0.3 % vs +0.2% exp

Posted: 27 Mar 2013 12:01 AM PDT

  • +0.1% prev
  • y/y  -1.6% vs -1.6 exp  -0.8% prev

German GFK consumer climate april: 5.9 vs 5.9 exp

Posted: 27 Mar 2013 12:00 AM PDT

  • 5.9 prev

Economic data coming up

Posted: 26 Mar 2013 11:10 PM PDT

Plenty ahead that’s going to keep my typing fingers a little busy !

Nikkei closes slightly higher at 12,493.79

Posted: 26 Mar 2013 11:02 PM PDT

UK press: some general reading

Posted: 26 Mar 2013 10:55 PM PDT

as usual here’s what the london commuter paper is saying this morning

Option expiries 10am NY cut

Posted: 26 Mar 2013 10:35 PM PDT

Good day everyone

Market seems delicately poised for a break. We’ll see soon enough

In the meantime here’s the expiries for later

  • USDJPY 93.50,94.00,94.45,95.00, 96.50,97.00,97.50,97.95,98.00,
  • EURUSD 1.2750,1.2850,1.2875,1.2900,1.2925,1.2950,1.3040
  • GBPUSD 1.5100,1.5240
  • AUDUSD 1.0300,1.0345,1.0400,1.0450,1.0500
  • EURJPY 121.50,121.85,124.00
  • EURCHF 1.2150

Sources: BOJ to start open-ended asset purchases as soon as meeting next week

Posted: 26 Mar 2013 10:01 PM PDT

On the newswires

ForexLive Asia wrap: USD/JPY a gainer today ahead of the BOJ meeting next week

Posted: 26 Mar 2013 09:59 PM PDT

The forex trading headlines for Asia trading today

  • Japanese PM Abe said today he expected the BOJ to fulfill its commitment to work towards the 2% inflation goal at their meeting next week
  • Australia: The RBA Financial Stability Review was released today
  • Australia: The RBA's Broadbent said the Australian dollar is likely to remain elevated
  • New Zealand ANZ March Business Confidence 34.6 (vs. 39.4 prior)
  • New Zealand ANZ March Business Outlook 32.4 (vs. 37.6 prior)
  • Dow Jones reported that uninsured Laiki depositors may face up to an 80% loss and a 6 to 7 year wait for payout
  • Headline that the BOJ is likely to start open-ended asset purchases as soon as meeting next week

EUR/USD had another quiet Asian session, but did lows a little ground in the Tokyo afternoon. There was much talk across the desks of a short EUR market and solid bids around 1.2825 holding it (barrier-related interest), but for all the supportive talk it traded heavily.

AUD/USD traded with an offered tone also, although like EUR the range was tight. The RBA's Stability Review, and Broadbent's comments, had little impact on a non-volatile day.

GBP and NZD both drifted a little lower with EUR and AUD also.

USD/JPY was the biggest mover today. There was no new news, with many pointing to an overnight article on Nikkei about Kuroda's comments before parliament yesterday as helping the yen weaken. As of writing USD/JPY is on its days highs around 94.85, with this level here, through to 95.00, attracting sellers and forming resistance.

Takehashi: USD/JPY will be around 100 for the time being

Posted: 26 Mar 2013 09:58 PM PDT

Susumu Takahashi is chief economist and chairman of the Japan Research Institute, and a member of the government's Council on Economic and Fiscal Policy
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