2 minutes ago | December 22nd, 2014 09:41:36 GMT.

Bank of England FPC Minutes note risks from sustained lower oil prices


Minutes just published from the meetings of 8 and 15 Dec

The Financial Policy Committee made no new recommendations and decided to maintain the countercyclical capital buffer rate for UK exposures at 0%

Full Minutes here

I’m stepping away for a while.. Will pop by again later and post an update or two.


11 minutes ago | December 22nd, 2014 09:31:55 GMT.

More from the orderboards 22 Dec


USDCHF currently 0.9811 finding some support into 0.9800

Sellers  0.9820 0.9845-50 0.9880 0.9900-10

Buyers 0.9800 0.9780 0.9760 0.9740 0.9700-10


EURCHF currently 1.2030 going nowhere fast in real terms after the post-SNB action

Sellers 1.2050 1.2065 1.2085 1.2100-05 (stops above) 1.2125-35 1.2150

Buyers 1.2015-20 1.2000-05 (SNB cap- stops below 1.1990) 1.1970 1.1950


USDCAD currently 1.1595 .

Sellers 1.1625 1.1650 1.1680 1.1700 1.1730 1.1750

Buyers 1.1565-70 1.1550 1.1520 1.1500 1.1470-75 1.1450


NZDUSD currently 0.7746

Sellers  0.7800-05 0.7830 0.7850

Buyers 0.7700 0.7680 0.7650


And here’s another seasonal selection from ForexLive reader Casper


59 minutes ago | December 22nd, 2014 08:44:29 GMT.

Order boards for 22 Dec


All a little thin out there understandably but here’s what we have at the moment


Currently just off session highs at 119.85 and looking perky and Dec 10 highs of 119.92 beckon. There’s option expiries at 119.50 with a whole load more at 120.00 on Wednesday ( $4.5bln)

Sellers 119.90-120.00 120.10 (stops above) 120.25-30 120.50 120.80 121.00

Buyers 119.50 119.30 119.00 118.85 118.65 118.50


Capped at 1.5666 so far and currently back to 1.5630 as EURGBP heads higher to 0.7846

Sellers   1.5680-85 1.5700-10 1.5725-30 1.5750 1.5785 1.5800

Buyers  1.5615-25 1.5600 1.5580 1.5545-50 1.5525 1.5500-10 1.5475-85


Currently finding some cross based support at 1.2265

Sellers  1.2290-1.2300 1.2325 1.2340 1.2350 1.2380-85 1.2400

Buyers 1.2250 1.2235 1.2220-25 1.2200 1.2185 1.2165 1.2150


Currently 0.8147  finding some support after a run down from 0.8174

Sellers  0.8185 0.8200-10 (stops above) 0.8225-35 0.8250 0.8280 0.8300

Buyers 0.8120-25 0.8100-10 0.8085 0.8065 0.8050 0.8030-25 0.8000-10


Had a decent move up to 0.7825 to 0.7847 so far. Offers looming

Sellers 0.7855-60 0.7885 0.7900-05 0.7925 0.7950-60

Buyers  0.7820-25 0.7795-05 0.7785 0.7750


Currently breaching 147.00. USDJPY offers looming may have capping impact

Sellers    147.00-10 147.30 147.50 147.80 148.00

Buyers  146.50 146.20 146.00 145.80 145.50 145.25 145.00


1 hour ago | December 22nd, 2014 08:23:45 GMT.

Trading Ideas – European session 22 Dec


Ho, ho ho, Santa is on his way but if anyone’s still trading, or even just thinking of possible strategies, you can share all with your fellow ForexLive community here

I can’t offer mince pies or mulled cider over the net but I can bring this classic to the table




1 hour ago | December 22nd, 2014 08:14:27 GMT.

Swiss M3 money supply Nov yy +3.6% vs +3.4% prev


Breakdown below

Sight deposits a key focus in the wake of the SNB imposing negative rates last week but we will see the initial impact of that better in next month’s reading

USDCHF 0.9817 EURCHF  1.2035

wiss money supply % change

Swiss money supply % change

Swiss money supply  CHF change

Swiss money supply CHF change


1 hour ago | December 22nd, 2014 08:01:36 GMT.

Data coming up in this session 22 Dec


Good day one and all and I trust you had a good week-end

Not a lot on the data front today until later when we get US existing home sales at 15.00 GMT

So for those of you still trading it will be a case of trying to play some ranges and hope for some festive flow/rhetoric

Have a good one

Times GMT

Economic Data  (1) 22 Dec jpg

Economic Data (1) 22 Dec jpg

Economic Data  (2) 22 Dec jpg

Economic Data (2) 22 Dec jpg


1 hour ago | December 22nd, 2014 07:48:38 GMT.

German import price index Nov mm -0.8% vs -0.7% exp


  • -1.1% prev
  • yy -2.1% vs -1.8% exp vs -1.2% prev

Data out a short while ago but posting for info in case anyone missed it

Weaker import prices keeps downward pressure on inflation

EURUSD currently 1.2264 on session highs as USD dips generally

German import prices mm

German import prices mm


2 hours ago | December 22nd, 2014 07:41:20 GMT.

Option expiries 10am NY cut 22 Dec


  • USDJPY 118.50 (USD 2.1bln) 119.50 (USD 2.55bln)
  • EURUSD 1.2250 (EUR 432m) 1.2300 (EUR 440m) 1.2400 (EUR 409m) 1.2450 (EUR 1.5bln)
  • GBPUSD none
  • USDCHF 0.9650 (USD 200m)
  • USDCAD 1.1500 (USD 2bln)  1.1600 (USD 200m) 1.1650 (USD 250m)
  • AUDUSD none
  • NZDUSD 0.7600 (NZD 300m)
  • EURGBP 0.7870 (EUR 200m)

I’ll check back later to see if any pairs added or amounts changed

For more guidance on how to use the info click here


2 hours ago | December 22nd, 2014 06:46:57 GMT.

Bank of England’s Weale: Oil price falls are a separate issue to inflation outlook


Bank of England’s Martin Weale, speaking in a BBC radio interview, said

  • “What we have seen over the last few months is a very sharp fall in oil prices that has a direct first-round effect on the rate of inflation. But it’s a separate issue to where inflation is going to be in, say, two years’ time”
  • “When we set monetary policy, we do it with reference to where we think inflation is going to be in about two years’ time” Martin Weale told BBC radio in an interview broadcast on

He’s said pretty much the exact same thing before (for example, here). Weale is viewed as a policy hawk on the Bank of England’s Monetary Policy Committee


  • He is hearing of pay freezes much more rarely from UK businesses
  • He expects some improvement in productivity growth, oil prices to help spending in 2015

Headlines via Reuters



3 hours ago | December 22nd, 2014 06:35:06 GMT.

Bank of Japan monthly report released in Tokyo today


From the Bank of Japan monthly report released in Tokyo today (full text is here). The main headlines via Bloomberg:

  • Economy expected to continue its moderate recovery trend
  • Exports expected to increase moderately (citing the recovery in overseas economies)
  • Business fixed investment projected to continue a moderate increasing trend as corporate profits improve
  • Excluding direct effects of sales-tax hike, producer prices are expected to continue declining for time being, reflecting movements in international commodity prices
  • Core CPI y/y increase likely to be around current level for time being

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