The USD found a few friends overnight albeit in small numbers and one pair which is over positioned, namely cable, might be ripe for a pre-weekend correction? EUR/GBP looks very heavy still but there is heavy demand reported on the … Continue reading
I’m unsure whether the AUD/USD market can generate enough momentum to challenge the .9200 barrier from 25 pips away. Unfortunately that’s the types of market we are dealing with. Australian corporate bids are reported near recent lows at .9210 and … Continue reading
AUD/USD: Barrier reported still at .9200 with stops likely to be heavy directly below. Yesterday’s highs at .9270 will provide the obvious resistance level; USD/JPY: The Japanese remain the main sellers of Yen, with yesterday’s data on foreign bond demand … Continue reading
Once again we have not seen much change in overnight trade although momentum does seem to be trying to swing to the USD bulls. EUR/USD may hold the key to unlocking some much needed volatility with a big battle going … Continue reading
HSBC China manufacturing PMI at 5-month high of 49.7; New Zealand job ads +2.6% in April, +15.4% YoY; Regional stock markets traded higher by around 1% on average with the Nikkei +2%; Japanese demand for foreign bonds reported at 9-month … Continue reading
Will the strong positive sentiment on the Nikkei be enough to get USD/JPY back up through those 101.70 stops? I guess we will find out shortly.
Pretty much every dealer I’ve spoken with has a similar sort of set-up on their books, with plentiful stops placed above 101.70. Despite the solid improvement in risk sentiment and the stop-loss run in AUD/JPY, the market has been unable … Continue reading
This pair is also worth watching. The short-term market has been bearish and generally short, so there will be plenty of trailing stops scattered along the way.
Once again the range-trader is King. Intraday support should now form around .9240 as the bears give up on their ambitions for today at least.
The general expectation had been for some weaker data but a 5-month high of 49.7 has sent the AUD shorts scurrying.