October 15th, 2010 03:35:33 GMT.

Quick look at the order board


We are not challenging any of these levels at the moment but they are worth noting for later on tonight.

  • AUD/USD: Well chronicled barrier protection at 1.0000 with stops directly above; more barriers seen at 1.0050; stop-loss sell orders below .9870
  • EUR/JPY: Heavy stops below 113.80
  • EUR/GBP: Rumours that significant selling flows are expected during the London session but no confirmation
  • USD/JPY: Corporate selling interest 82.50 through 83.00
  • EUR/USD: Stops building below 1.4000; first reports of significant bids around 1.3920


October 15th, 2010 03:19:00 GMT.

Quiet trade to close the week


The Asian trading session has gone into sleep mode and nothing is moving.

The Chinese MOFCOM are still on the newswires, telling Japan that it has no right to be commenting on the Chinese trade balance. It has also re-stated that even a 3% rise in the CNY would place a lot of pressure on Chinese exporters. This is posturing because as we know the Chinese domestic market has grown immensely in the last 18 months as have Chinese exports to other Asian nations, so China is no longer overly reliant on exports to the US.


October 15th, 2010 01:41:14 GMT.

Around the markets


Nikkei -0.8%, Sydney -0.5%, Seoul and Shanghai flat. Gold steady at $1380/oz.


October 15th, 2010 01:24:20 GMT.

USD/CNY set at new record low


The Chinese may be trying to curry a bit of favour before tonights currency report. They have fixed the Yuan at a new record high of 6.6497 against the USD.

Elsewhere the USD is giving back some of its earlier gains against the majors and I suspect that we’ve already seen the range extremes for this session.


October 15th, 2010 00:34:42 GMT.

Market steadies after early USD-buying rush


The momentum seems to be waning and I don’t think we are going to see the same volatility that we saw yesterday. Jananese MoF and BoJ officials continue to fill up the newswires with lots of comments but until they actually do something their credibility will continue to suffer.

On the order front, talk of stops below .9870 in the AUD/USD which might come in for some attention.


October 15th, 2010 00:02:15 GMT.

Nikkei opens -0.35%


The USD continues to make some early gains in Asia with the AUD/USD now back below .9900

1 2 3 4 5 6 7 8 9 10

About Forexlive

Founded in 2008, ForexLive.com is the premier forex trading news site offering interesting commentary, opinion and analysis for true FX trading professionals. Get the latest breaking foreign exchange trade news and current updates from active traders daily. ForexLive.com blog posts feature leading edge technical analysis charting tips, forex analysis, and currency pair trading tutorials. Find out how to take advantage of swings in global foreign exchange markets and see our real-time forex news analysis and reactions to central bank news, economic indicators and world events.

Our authors have years of experience in financial markets and provide diverse, thought-provoking updates relating to news about global macro events and the worldwide forex economic calendar, with frequently updated content that is educational for traders at all levels from beginner to novice that can help traders make better decisions about forex trading. Our forex news focuses on G10 events, macroeconomic indicators, major equities indexes, treasury and bond yields from around the world, politics as it relates to forex trading and news from the FOMC as well as global central banks in, Europe and Asia.

Learn More About The Forex Live Authors Here and Follow us on Twitter, Facebook & Google+


© Copyright 2015 ForexLive™  |  Advertise With Us  |  Login To Comment  |  Sitemap

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FOREXLIVE™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.