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EUR/USD jumps back above 1.5000

By   || October 22, 2009 at 13:27 GMT
|| 7 comments || Add comment

EUR/USD popped quickly back above 1.50 from the 1.4980 area sending dealers scurrying to find a reason. The only thing on the wires that might be tangentially related are comments from the head South African central bank making comments on inflation. There were rumors this morning of South African capital controls, and the focus on the nuts and bolts of central banking rather than on capital controls may by helping risk appetites…

Some also note talk that an aggressive US investment bank is targeting the 1.5050 barrier option. Not sure if it expires today, but if it does, it would give them great incentive to knock it out.

Some are blaming a stop-run in EUR/JPY above 137.00.

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Category: All, Americas, Mkt Talk, Regions
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7 Responses to “EUR/USD jumps back above 1.5000”

  1. Rem on October 22nd, 2009 13:34 GMT

    EUR/USD just follows Oil.

  2. Gringo on October 22nd, 2009 13:49 GMT

    Hi Jamie,

    Thanks for head-up on possible option expiry. One question on expiry: Is it expiry set for EOD (5pm EST) or that may vary depending of the parties and the market (Asian, Europe, US)?

    Thanks

  3. Jamie Coleman on October 22nd, 2009 13:52 GMT

    Hi Gringo– Options expire every day at 10am New York time (14:00 GMT until clocks change). There is also an expiry during the Tokyo session, but the vast majority of over-the-counter forex options (the kinds we write about) expire at 10 am NY time. For instance, there is a 90.50 expiry in EUR/GBP this morning. Spot has gravitated toward that level, a typical bit or price actions…

  4. Gringo on October 22nd, 2009 14:09 GMT

    Thanks Jamie for details.

    How one can find out when and where expiries are? Dealers I guess?

  5. saferanger on October 22nd, 2009 14:14 GMT

    A close below 1.4930 In E/U today would technically mean that a s/t downtrend has begun as it negates last weeks upward move..

  6. Jamie Coleman on October 22nd, 2009 14:21 GMT

    yes, gringo. from dealers and here at forexlive, where we tend to pick up the key expiries that the market is focusing on from day to day.

  7. Gringo on October 22nd, 2009 14:28 GMT

    Many thanks Jamie!

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