14 hours ago | December 18th, 2014 10:14:21 GMT.

EURJPY orders 18 Dec

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Currently 146.09 with rallies so far capped at 146.50

Sellers   146.20 146.50 146.80 147.00 147.30 147.50

Buyers  145.80 145.50 145.25 145.00 144.80 144.65 144.50

2014-12-18T10:14:21+0000

14 hours ago | December 18th, 2014 10:08:53 GMT.

Saudi oil minister says oil market problem is temporary

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  • Says the market is passing through the problem
  • Several factors combined behind oil market problem
  • Global economy problem largely behind market problem
  • Increased oil supply from high cost regions affect market
  • Demand for oil slowed more than expected
  • Saudi output stable while non-OPEC output rises
  • Makes it difficult if not impossible for OPEC or Saudi to cut production
  • Saudi economy can endure temporary fluctuation
  • Saudi economy is solid and has large financial reserves

Saudi oil minister Ali bin Ibrahim Al-Naimi stamping all over any expectations for production cuts. I’m not sure some of his OPEC colleagues who are fiscally underwater with the current price would agree.

He’s made a good point though, why should OPEC cut just because non-OPEC production has risen? That’s what makes a market.

Oil is staging a bounce of sorts despite the bearish comments above.

Brent crude oil H4 chart 18 12 2014

Brent crude oil H4 chart 18 12 2014

 

2014-12-18T10:08:53+0000

14 hours ago | December 18th, 2014 10:06:33 GMT.

More from the orderboards 18 Dec

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So here’s what’s out there now for CHF after the earlier action

USDCHF currently 0.9783 finding some support at 0.9760 after the drop from 0.9849

Sellers  0.9800 0.9820 0.9845-50 0.9880 0.9900-10

Buyers 0.9760 0.9740 0.9700-10 0.9680 0.9650-60 0.9640 0.9600 0.9580 0.9550

 

EURCHF currently 1.2038 after the fall back from 1.2098 as longs scrambled out. 1.2050-65 pivotal area now

Sellers 1.2050 1.2065 1.2085 1.2100-05 (stops above) 1.2125-35 1.2150

Buyers 1.2030 1.2015-20 1.2000-05 (SNB cap- stops below 1.1990) 1.1970 1.1950

 

USDCAD currently 1.1605 testing bids after failing at 1.1650

Sellers  1.1650 1.1680 1.1700 1.1735 1.1750

Buyers 1.1600 1.1575-85 1.1550 1.1520 1.1500 1.1470-75 1.1450

 

NZDUSD currently 0.7735

Sellers  0.7760 0.7800-05 0.7830 0.7850 0.7885 0.7900

Buyers   0.7700 0.7680 0.7650

2014-12-18T10:06:33+0000
2014-12-18T10:02:22+0000
2014-12-18T10:00:11+0000

14 hours ago | December 18th, 2014 09:50:26 GMT.

Putin says current economic situation is provoked by external factors

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  • Central bank and government are taking adequate measures
  • Ruble rise in unavoidable
  • Central bank is not going to waste its reserves thoughtlessly
  • Current unfavourable situation might last for 2 years
  • Things could have been done more efficiently to support market stability (oooh someones not getting a pressie from Putin this year)
  • Economy will adapt to difficulties if they continue
  • CBR needs to continue tightening ruble liquidity
  • Steps to ensure financial stability should be taken a step faster
  • It’s not only CBR that is responsible for current situation (he’s doesn’t sound a happy bunny with his central bank)
  • Russian crisis is not a penalty for bringing Crimea into Russia
  • NATO’s eastward expansion is like building a new Berlin wall
  • Moscow ready to mediate Ukraine crisis and resolve situation via political means

USD/RUB is still volatile as it falls from just shy of 64.0 to 62.05 in about 10 minutes

2014-12-18T09:50:26+0000

14 hours ago | December 18th, 2014 09:50:15 GMT.

EURGBP orders 18 Dec

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Currently 0.7874 after the UK retails-led fun and games

Sellers 0.7900-05 0.7925 0.7950-60 0.7985 0.8000-10 0.8030-35

Buyers 0.7850 0.7835 0.7820 0.7800 0.7785 0.7750

2014-12-18T09:50:15+0000

14 hours ago | December 18th, 2014 09:45:25 GMT.

AUDUSD orders 18 Dec

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Currently 0.8177 with offers around 0.8200 still holding

Sellers   0.8200-10 0.8225-35 0.8250 0.8280 0.8300 0.8330 0.8350

Buyers 0.8150 0.8120-25 0.8100-10 0.8085 0.8065 0.8050 0.8030-25 0.8000-10

2014-12-18T09:45:25+0000

14 hours ago | December 18th, 2014 09:44:09 GMT.

The SNB is ready to take more measures if required

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Jordan is really stringing this one out

  • SNB needs to stop longer term negative CPI
  • Negative rates have effect of normal rate cut
  • Should see effects of negative rate show before Jan 22nd
  • Does not expect negative rates to lift credit volumes in real-estate
  • Negative rates for retail savers are down to the banks decision
  • Negative rates make no sense for retail customers and doesn’t expect to see them
  • Expects LIBOR to become negative

2014-12-18T09:44:09+0000

14 hours ago | December 18th, 2014 09:30:09 GMT.

UK retail sales Nov mm +1.6% % vs +0.4% exp

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  • +1.0% prev rev up from +0.8%
  • yy +6.4% vs +4.4% exp vs +4.6% prev rev up from +4.3%
  • ex autos mm +1.7% vs +0.3% exp vs +1.0% prev rev up from +0.8%
  • yy +6.9% vs +4.5% exp vs +4.9% prev rev up from +4.6%

So someone did know beforehand eh ? Shock

GBPUSD 1.5664 now 1.5628 on a classic buy/ rumour sell fact move

EURGBP 0.7875 from 0.7862

UK retail sales mm

UK retail sales mm

2014-12-18T09:30:09+0000
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