I’m hearing from the interbank market that there are a few stops building below 89.75 which may attract dealers attention in early European trade.
This Bloomberg report has surveyed 18 international economists and the majority opinion is that the BoJ will expand its credit program by at least 5 trillion JPY. The policy decision, which is expected to leave rates on hold at 0.1%, … Continue reading
This is another pair which has me flummoxed at the moment. My tendency is to be short, despite the lowly level, but I think I’m in a minority as most other traders I speak with and whose opinion I value, … Continue reading
I hope the lively trade from overnight can wash over into Asia today. Cable was the big mover, enjoying a 300 pip range, and my initial target at 1.5285 has almost been met. EUR/USD has also been dragged higher but … Continue reading
Some anticipated a more hawkish Fed. Not today. US bond yields are somewhat easier after the statement with 2-year yields now at 0.90% from 0.95% before. I would not be surprised to see rates back at 0.95% this time tomorrow. … Continue reading
No sooner said than done. Bids filled at 90.15 and stops triggered just below. USD/JPY and the JPY crosses have been under pressure during the Asian trading session for the last week or so and then they tend to rebound … Continue reading
USD/JPY: solid corporate selling between 91.10/20; decent sized bids around 90.15, stops just below this level GBP/USD: stops both side of the market, above 1.5090 and below 1.5010. Talk of Sovereign bids 1.4950/60 with more stops below 1.4935/40. EUR/USD: heavy … Continue reading
Looks like we might be close to a good buying level for AUD/JPY. AUD/USD dipped down below .9120 after the RBA minutes but the stay down there was short-lived and we are now back at the .9140 opening level. USD/JPY … Continue reading
The Chinese Press have a different take on the value of the Yuan to that of the Western Media but there can be no doubt that the USD/CNY level is still the elephant in the room and unless something is … Continue reading
The majors are oscillating in tight 20 pip ranges as Tokyo tries to decide what it should be doing in the FX market. Some light stops below 90.15 in USD/JPY might come into play this morning.