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

Quick look at the order board

by

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

2010-10-15T03:35:33+0000

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

Quiet trade to close the week

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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.

2010-10-15T03:19:00+0000
2010-10-15T02:33:46+0000
2010-10-15T02:09:03+0000
2010-10-15T01:51:45+0000

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

Around the markets

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

2010-10-15T01:41:14+0000

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

USD/CNY set at new record low

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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.

2010-10-15T01:24:20+0000

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

Market steadies after early USD-buying rush

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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.

2010-10-15T00:34:42+0000

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

Nikkei opens -0.35%

by

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

2010-10-15T00:02:15+0000
2010-10-14T23:55:51+0000
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