FOREX NEWS | CURRENCY NEWS BY FOREXLIVE

USD/JPY grinding higher …real money buys

Climbed up to 79.32 recently from around 79.15 when i fell out of bed this morning and being told it’s real money buyers behind the move.

Hardly exciting stuff i know;…

There are offers running up to 79.50 from exporters to chew through with some tech resistance above around 79.75/80 (tenkan line )

Some auctions coming up this morning..

Germany’s  aiming to sell some  Eur 3 bln  of new 1yr Bubills, results around 0930GMT

Holland’s   looking to sell Eur 1-2 bln of  3 and 6 month T-bills , results around 0940GMT

Belgium’s to sell  Eur 2-3 bln  of 5,10 and 15 yr  bonds, results around 1010 GMT

France’s  to sell Eur 7.2-8.4 bln of  3,6 and 12 month T bills,  results around 1255GMT

EUR/USD slipping in early Europe

Haven’t heard exactly who’s selling this but one friend in the Far East is  telling me The Bk Of Korea has been actively selling in USD/KRW and suggests he could be behind the slip in the EUR/USD  as he rebalances his reserves.

Euro’s slipped to the low 1.2760′s  from the low 1.2790′s when i sat down. Real money names are reportedly sitting on the bids from 1.2750 and more bids are seen down towards 1.2720/30

Swiss consumer confidence -8 in April from -19 in January

Signs of some stabilization creeping into the Swiss economy. Analysts were expected  a reading of -15.

Hollande to press Merkel on Eurobonds

The new French President wants to push Angela Merkel on Wednesday at the informal European summit dinner to withdraw her Eurobond veto, which he sees as a potential remedy to the debt crisis and would relieve borrowing cost stresses on weaker countries in the Eurozone.

More… (from the Irish Times)

Orderboard…

EUR/USD:  Real money bids 1.2740/50, stops below ahead of more bids 1.2720/30 and 1.2700/10 (sell stops below). Offers 1.2810/30, talk of buy stops through 1.2835 ahead of further offers 1.2860/70

GBP/USD:  Offers 1.5830/40, tech res 1.5890/10. Bids 1.5790/00, 1.5730/40, suggested sell stops below

EUR/GBP:  Offers 0.8085/00, 0.8135/40, Bids 0.8070/75, 0.8050/55 from funds

USD/JPY:  Bids 79.00/10 (79.10, 61.8% of 76.00-84.15), (79.00 rumoured barrier). Sell stops down through 78.95 and 78.80. Offers start from79.20 and run up to 79.50 (exporters)

EUR/JPY: Offers 101.40/50 and 101.90/00, but stops just above. Bids 101.00/10, likely stops just below.

EUR/CHF:  Bids 1.2000/10, offers 1.2015/25 and 1.2040/50

USD/CHF: Offers 0.9400/10, Bids 0.9370/80

AUD/USD:  Sell stops through 0.9820. Bids 0.9800/10, sell stops through 0.9790. Offers 0.9870/80 larger up at 0.9890/00 with buy stops on a break above.

Today’s option expiries

For the 1000NY/1400GMT cut..

EUR/USD: 1.2700, 1.2780, 1.2800, 1.2900 and 1.3000

USD/JPY: 79.50, 79.75 and 80.00

GBP/USD: 1.5785, 1.5880 and 1.5900

EUR/GBP:  0.8000

Spain will ask for a bailout soon…

According to a leading European fund manager.

Fidelity Worldwide Investment Equity CIO Dominic Rossi said..

“I don’t think it will be long before Spain will need to seek official assistance in the recapitalisation of its banks from both the European Central Bank and the International Monetary Fund.” he said.

Rossi is in charge of £155 bln of assets at Fidelity and believes that UK banks are in better shape to cope than most , having already taken steps to boost their capital and reduce exposure to sovereign debt.

More… 

 

Greek poll shows Syriza in face-off with New Democracy

Support now seems to be moving towards two parties in the run up to the June 17 elections in Greece, and it’s a close run race at the moment with one poll putting Syriza on around 28% and the ND on 24%.

Syriza’s leader Tsipras travels to Paris and Berlin today and insists his party’s opposition to the bail out deal wouldn’t result in an exit from the Euro

More…

The most pro-European thing to do now is reject the euro….

Roger Bootle’s take  on the Euro’s future in today’s Telegraph