July 11th, 2014 04:55:11 GMT

Option expiries 10am NY cut 11 July


  • USDJPY 101.00 (USD 405m) 101.45-50 101.70 102.00 (USD 787m)
  • EURUSD 1.3600 1.3620-30 1.3640
  • GBPUSD none
  • AUDUSD 0.9300-05 (AUD 549m) 0.9320 0.9350, 0.9370 (316m) 0.9390 0.9500
  • USDCAD 1.0600 1.0625 (USD 780m) 1.0725 (USD 425m)
  • EURGBP 0.7900
  • EURJPY 138.50


July 11th, 2014 03:47:18 GMT

ForexLive Asia Wrap: Europe fear, US worry, Asia: “M’eh”.


Forex trading headlines for Asia Friday 11 July 2014

Adam wrote in the America’s wrap that “Early fear downgraded to worry”. Well, in Asia today it was further downgraded to “M’eh” apparently.

The Australian  dollar drifted from earlier lows off about 15 points or so. The data today (Australian housing finance) was another mixed bag, the headline was better than expected but details were a little soft (except for construction, which was strong), which saw the AUD recover from its lows. (When I say ‘recover’, its up about 8 points or so, as of writing.)

The NZD lost around 20+ points from early highs and bounced about 15 points subsequently. Drifting back towards the lower part its session range as I type.

EUR/USD was broadly sideways in a small range today; cable, too – it fell around 20 points and recovered 15 of them.

Ahead of Friday morning’s job market report the CAD strengthened a little, but within a small range only.

Oil was sideways steady. Gold gained around $3 from NY lows.

Asia equities were mixed – HK and Australia a little higher, South Korea and Japan a little lower.


July 11th, 2014 03:07:05 GMT

Xinhua: PBOC looking into Bank of China money laundering allegations


From Reuters, an article concerning the allegations of money laundering against Bank of China:

  • China Central Television (CCTV) alleges Bank of China has been laundering money offshore for clients
  • “We have noticed the media report about a commercial bank’s cross-border renminbi business, and are verifying related facts,” the report quoted an unidentified spokesman of the People’s Bank of China

More at the article: China’s central bank looking into Bank of China money laundering allegations: Xinhua


July 11th, 2014 03:00:45 GMT

“Is Australia due for a recession?”


Here’s a great piece from Stephen Koukoulas, who calls himself “The Kouk”; he asks, “Is Australia due for a recession?”

Its devoid of hype, doomsday scenarios, tin hattedness, motivated reasoning, political commentary masquerading as analysis, and the usual general garbage found around the place.

So, highly recommended reading for traders!

Is Australia due for a recession?



July 11th, 2014 02:40:44 GMT

More from Japan economy minister Amari: Current Japan economy not in state of deflation


Japan economy minister Amari:

  • Current Japan economy not in state of deflation
  • Can’t formally declare Japan has exited deflation until BOJ’s price target met and there are assurances external shocks won’t push economy back to deflation
  • Too early for BOJ to consider exit strategy like that of the Fed’s tapering as Japan still about to emerge from deflation
  • BOJ has expressed strong determination it will take further easing steps if path toward meeting its price target is delayed
  • If BOJ determines Japan is lagging in meeting its price target, it is likely to decide appropriate steps
  • Machinery orders data is volatile but there are positive data as well so Japan’s economy to continue recovering steadily
  • Up to BOJ to decide on policy direction, moves
  • Government corporate tax cuts will be put in place in time frame of around five years

Headlines via Reuters



July 11th, 2014 02:12:50 GMT

More on China Securities Journal: China needs detailed policies to stabilize trade


I had the headline up earlier: China Securities Journal: China needs detailed policies to stabilize trade

Here is more now. The official China Securities Journal said in a front page editorial:

  • The government should unveil detailed policies to help exporters as soon as possible as the peak season for overseas orders approaches
  • Said the recovery in exports shouldn’t be overestimated
  • Noted that the first half’s 1.2% growth is far from this year’s target of 7.5% & many exporters are complaining about a lack of details on the government’s pledges to help them, making them wary of taking new orders
  • Also warned that smaller-than-expected export growth could indicate that the overseas recovery is weaker than anticipated


Details via MNI


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