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

EURJPY orders 18 Dec


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


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

Saudi oil minister says oil market problem is temporary


  • 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



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

More from the orderboards 18 Dec


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


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

Putin says current economic situation is provoked by external factors


  • 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


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

EURGBP orders 18 Dec


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


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

AUDUSD orders 18 Dec


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


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

The SNB is ready to take more measures if required


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


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

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


  • +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

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