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- Spanish Oct PMI Employment Index Rises for the First Time in 38 Months
- So Much for AUD/USD Stops above 1.0010
- Bid at 1.3915 in EUR/USD
- Early London Keen Sellers of Euro and AUD
- Break above 1.0010/20 Could be Powerful
- Trade Recomendations
- EUR/USD Grinding Higher
- India Follows Australia’s Lead and Raises Rates by 25bps
- AUD Move Impacting across the Board
- December Rate Hike in Australia Very Unlikely
- Good Selling Interest Near Parity in AUD/USD
- Australia’s RBA Raises Rates by 25bps
- AUD/NZD Gaining Some Traction Prior to RBA Decision
- Survey says: $500 bln
- Countdown to RBA Rate Decision
- Update: BOJ Oct 4-5 Minutes: Some Feared Lower L-T Infl Views
- BOJ Oct 4-5 Minutes: Some Warned of Lower L-T Infl Outlook
- BOJ Minutes from Oct Meeting Just Out
- Off we go…
- China’s Hu: China’s FX policy is coherent and responsible
| Spanish Oct PMI Employment Index Rises for the First Time in 38 Months Posted: Headline over Reuters - Spain Oct Mfg PMI 51.2 vs. 49.6 in September Spoain Oct Mfg PMI Employment Index 50.6 vs. 47.8 in Sept - first rise in 38 months Some good news at last in terms of employment.    |
| So Much for AUD/USD Stops above 1.0010 Posted: AUD/USD has just made a fresh post float high at 1.0013 with reported stops above 1.0010 having limited impact. The pair is back trading around the figure perhaps preparing for its next assault. EUR/USD for its part made a fresh intraday high at 1.3948 but never tested reported selling interest at ...  |
| Posted: Coincidental or not talk of sovereign bid at 1.3915.  |
| Early London Keen Sellers of Euro and AUD Posted: The inability to break 1.3950 in EUR/USD and 1.0005 in AUD/USD (previous post float high 1.0004) bought out the sellers en masse. EUR/USD is back to 1.3920 whilst AUD/USD last trades at 0.9980. Europe appears to be taking advantage of perhaps the excessive Asia move. Overall I am not sure ...  |
| Break above 1.0010/20 Could be Powerful Posted: The inability of AUD/USD to make any impression on the downside following today's surprise rate hike leaves the topside very vulnerable to a stab at stops above 1.0010. Whilst solid selling remains around the figure, dealers say stops are building above. As I write this note AUD/USD trades to 1.0003.  |
| Posted: JP Morgan hit the jackpot today with two earlier trade recommendations. The first one was to buy AUD/USD (out before the RBA rate decision) with a target in the 1.0220-1.0375 zone. They said the recent retracement was corrective and consistent with their view that the broad uptrend is incomplete. Their second ...  |
| Posted: Whilst remaining somewhat sidelined ahead tomorrows FOMC meeting, EUR/USD is grinding higher in the wake of the surge in AUD/USD following the somewhat surprising rate hike. Traders say small sell orders exist around 1.3950 whilst fast money stops are placed around 1.3970. EUR/USD high for the day 1.3938; last at ...  |
| India Follows Australia’s Lead and Raises Rates by 25bps Posted: India's Reserve Bank has followed Australia's lead and raised rates by 25bps but this move was no surprise with officials warning the market beforehand that inflation was a worry. The move should not impact trading in the majors but it does highlight the growing concern around Asia regarding imported inflation. ...  |
| AUD Move Impacting across the Board Posted: Whilst AUD/USD surged +100 points on the RBA rate hike, the move was felt across the board (except NZD/USD which fell due to the move higher in AUD/NZD. Whilst the moves in other major pairings remain somewhat modest, it was surprising that USD/AXJ reacted so strongly. They all fell sharply ...  |
| December Rate Hike in Australia Very Unlikely Posted: Whilst Australia's RBA struck with a preemptive rate hike today the chances of a follow-up hike in December appear remote after one of the big Australian banks hiked mortgage rates by a whopping 45bps as it tries to play catchup on its margins. AUD/USD has traded back to the 0.9960s after ...  |
| Good Selling Interest Near Parity in AUD/USD Posted: AUD/USD is baulking at a move above parity with reportedly good selling interest from a number of sources at the figure. That said stops are sure to be placed above 1.0020. Intraday high 0.9989 - last at 0.9976.  |
| Australia’s RBA Raises Rates by 25bps Posted: The 30% crowd got the RBA rate decision right with AUD/USD blasting to 0.9981 (last at 0.9965). The news has dragged EUR/USD and GBP higher whilst AUD/NZD is up to 1.3030, some 160 points off the days low. The minutes include "the economy faces large expansionary shock from terms of ...  |
| AUD/NZD Gaining Some Traction Prior to RBA Decision Posted: AUD/NZD has gained a little traction in the last hour climbing to 1.2920 from an opening low around 1.2870. This trade stands out as a cheap "punt" given that most of the downside stops were done on Friday - the favoured no change decision is likely to promote only modest ...  |
| Posted: Here's a Bloomberg survey on QE...  |
| Countdown to RBA Rate Decision Posted: In just under 2 hours (at 0330GMT) the Reserve Bank of Australia releases its rate decision for November with futures pricing in a 30% chance of a rate hike. Last weeks CPI number took the steam off the odds of a rate hike but the market still remains wary given ...  |
| Update: BOJ Oct 4-5 Minutes: Some Feared Lower L-T Infl Views Posted: -- Adds More Details, Background From 17th Paragraph TOKYO (MNI) - Some Bank of Japan board members expressed concern that the public's inflation expectations in the longer term may drift downward under deflationary pressures, although they have been relatively well anchored, the minutes of the BOJ's ...  |
| BOJ Oct 4-5 Minutes: Some Warned of Lower L-T Infl Outlook Posted: TOKYO (MNI) - Some Bank of Japan board members expressed concern that the public's inflation expectations in the longer term may drift downward under deflationary pressures, although they have been relatively well anchored, the minutes of the BOJ's Oct. 4-5 ...  |
| BOJ Minutes from Oct Meeting Just Out Posted: Headlines are starting to filter out from the October BOJ meeting. As one would expect from this ultra cautious central bank the comments don't provide any market moving element with USD/JPY remaining stuck around 80.55.  |
| Posted: As noted last evening, coverage will be a bit spotty through Asia and Europe but will resume in New York with three, count them, three of the web's finest BS artists at work at once. See ya tomorrow! Late NY levels: EUR/USD 1.3885, USD/JPY 80.60, GBP/USD 1.6040, AUD/US 0.9850.  |
| China’s Hu: China’s FX policy is coherent and responsible Posted: Will continue to perfect its floating exchange rate system to increase yuan flexibility Parties should restructure economies and promote far, balanced trade, avoid protectionism Ready to work with France (he is in Paris) and the world to overcome challenges and contributed to strong, balanced growth. Sounds great, don't it?  |
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