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FastBrokers Commentary
Jan
12
2012
12
2012
Asian market wrap: China December CPI 4.1% YoY; By FastBrokers Research Team.
EUR/USD has traded in a tight range ahead of the ECB and Spanish bond auction. EUR/GBP and EUR/AUD have managed some modest gains with light profit-taking ahead of risk events the likely explanation. Ranges: EUR/USD 1.2700/28
Most of the NZD buying of recent days is being attributed to insurance related payments for the Christchurch earthquake with most of the NZD buying against the USD and the GBP.
AUD/USD has had a relatively quiet session either side of 1.0300. Chinese CPI was pretty much as expected and flows were light. Ranges: 1.0281/1.0317
Cable 1.5308/35; EUR/GBP .8285/.8306; EUR/JPY 97.60/84; USD/JPY 76.80/92; EUR/CHF 1.2110/30.[...]
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Posted by: FastBrokers House
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Jan
9
2012
9
2012
Asian markets wrap: AUD slips on retail sales; EUR lower ahead of Merkel-Sarkozy; By FastBrokers Research Team.
The EUR/USD opened lower in early interbank trade and has spent the session consolidating below 1.2700. The comments related to Greece and the Merkel-Sarkozy meeting ensured that EUR bears remained in control. EUR/USD closed in NY on Friday at 1.2720, opened in early interbank markets at 1.2685 and has traded a 1.2664/1.2705 range for much of the session. EUR/JPY posted fresh 11 year lows at 97.25 but some healthy buying on the Asian open helped relieve the pressure. Ranges: 1.2664/1.2705, EUR/JPY 97.25/75
AUD/USD also opened slightly lower, following the EUR, and the fall accelerated after the lower than expected retail sales figures. With Chinese growth concerns also increasing, the market is now becoming more bearish on Australian rates for 2012. Ranges: 1.0142/1.0213
USD/JPY moved alongside flows in the crosses inside a tight range, 76.77/99.
Cable 1.5394/1.5429. USD/CHF .[...]
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Posted by: FastBrokers House
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Jan
6
2012
6
2012
European market wrap: I’ve got the feeling the market’s waiting for something; By FastBrokers Research Team.
I’ve just got a feeling in my water that the market is waiting for something, but can’t work out what.
Narrow ranges have prevailed this morning. EUR/USD sits at 1.2785, hardly changed on the day. The pairing rallied early and edged slowly over 1.2800.
ForexLive then reported sell orders clustered up at 1.2810/20. We got to 1.2812 session high and that was that and down we slowly drifted. Who’s better than us? Answer: Absolutely no one
Light stops seen above 1.2820. On downside buy orders clustered 1.2750/60 ahead of 1.2750 barrier interest.
Hopefully whatever the market’s waiting for will soon break us out of this current malaise.[...]
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Posted by: FastBrokers House
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Jan
6
2012
6
2012
Asian market wrap: Late movement on North Korean rumours; By FastBrokers Research Team.
An extraordinarily quiet session in the main, with the majors trading in 5 pip ranges for hours on end, but rumours about an incident at a North Korean nuclear facility sent the USD higher and risk-aversion also returned late in the session.
AUD/USD has had a respectable session range of 67 pips but for the most part it didn’t move at all. Solid bids at 1.0220/30, including Sovereign interest, underpinned the pair both overnight and early in the session but those bids were filled when the USD went bid late in the session. Range: 1.0202/69
EUR/USD spent the majority of the session stuck in a 5 pip range near 1.2790 before breaking lower in late trade. Asian central banks have been reportedly buying near 1.2760, but the amounts are small. More rumours have been circulating that the French downgrade will happen tonight as well as rumours of a better-than-expected NFP. It’s been so quiet, dealers had little else to do but to spread rumours, of which we’ve had three. Ranges: 1.[...]
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Posted by: FastBrokers House
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Jan
5
2012
5
2012
US wrap: No let up in European fears; By FastBrokers Research Team.
Good news for the US was good news for the dollar today, for a change. US bank shares have also decoupled from their European counterparts. European banks fell sharply again today as markets were spooked by the poor reception to Unicredit’s capital hike and rumors today that Deutsche needs fresh capital as well.
Poor European data, continued fears of a French downgrade and growing instability in central Europe (particularly in Hungary) were juxtaposed with upbeat US employment data and steady non-manufacturing ISM figures.
The USD rose across the board today though the gains were tempered against the commodity currencies as they are seen benefiting from a US recovery.
USD/JPY staged a rally, recovering from overnight lows in the 76.60s to rise into the mid 77.20 on the strong US data. Offers in the 77.15/25 area continue to be chipped away at. Small stops are seen in the 77.30 area.[...]
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Posted by: FastBrokers House
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Jan
5
2012
5
2012
market wrap: AUD drifts lower on mild profit taking; By FastBrokers Research Team.
The AUD has drifted lower today with mild profit taking, a lower Australian share market, lower than expected trade surplus data and a higher USD/CNY fix all having a small influence in fairly disinterested markets. AUD/USD opened near 1.0360 but the prospect of plentiful sell orders near 1.0400/20 also dissuaded any bullish ambitions. Ranges: 1.0306/73
The EUR has had a quiet session with a 36 pip range. Tonights French bond auction will be closely watched after the German Bund auctions failed to sell it’s full quota overnight. No sign of any Sovereign interest today, though Asian Sovereign names were reportedly heavy sellers of EUR/USD in overnight trade. Range: 1.2911/47
Hildebrands press conference will be watched with interest as he no doubt tries to distance himself from his wife’s uncanny ability to buy EUR/CHF just before an SNB announcement. The CHF hardly moved in Asia with EUR/CHF seeing a 10 pip range.[...]
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Posted by: FastBrokers House
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Jan
4
2012
4
2012
Asian market wrap: Quiet consolidation in FX market; By FastBrokers Research Team.
Very quiet session in Asia today, consolidating the risk-on gains from yesterday. Tokyo returned to the market, catching up with the rest on the equity markets, but there was little or no interest in the FX market.
Talk of heavy selling interest in the AUD/USD above 1.0400 and near 1.0420 in particular, encouraged profit taking in some of the AUD crosses after big gains over the last 48 hours. AUD/USD closed in NY near 1.0350, rallied above 1.0380 in early trade but couldn’t maintain the gains and fell back quickly. Ranges: 1.0318/82
EUR/USD has had a range of less than 40 pips, with no-one willing to get involved ahead of tonights Bund auction and the upcoming Merkel/Sarkozy meeting. EUR/JPY has been supported by real money buyers but EUR sentiment overall remains fragile. Ranges: 1.3020/58
USD/JPY moved around with cross flows in a 76.58/77 range. Solid bids are reported near 76.50 but bounces are anaemic.
Cable 1.5625/55; USD/CHF .[...]
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Posted by: FastBrokers House
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Dec
30
2011
30
2011
Asian market wrap: China fixes Yuan at new record high ; By FastBrokers Research Team.
Only some small moves in EUR/JPY worth recording. Dealers eyed stops just above the previous lows at 100.75 but were unable to get them triggered, just as NY stalled last night at the same level. The pair started to drift off after the USD/CNY was fixed at record lows but hasn’t yet been able to test the big option level at 100.00. Ranges: 100.28/68
AUD/USD moved with flows in the JPY crosses and also affected by the China PMI and the Yuan fixing. It rallied early but pulled up well shy of solid resistance at 1.0200. Ramges: 1.0120/74
EUR/USD traded relatively quietly, 1.2935/65. USD/JPY 77.49/73 and cable 1.5400/18.[...]
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Posted by: FastBrokers House
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Dec
29
2011
29
2011
European Morning Wrap: Market remains risk averse as we head slowly toward the New Year ; By FastBrokers Research Team.
Not alot in the way of risk appetite out there.
EUR/USD down at 1.2865 from early 1.2925, having been as low as 1.2858 so far. Italian auction results got a lukewarm reception (having to pay 6.98% for 10 year money didn’t go down well), piling further pressure on the beleaguered single currency.
Cable down at 1.5370 from early 1.5460, having been down as low as 1.5360. EUR/GBP unchanged around .8365, having slipped back from earlier rally which reached session high .8397. The rallyette could have been related to Bundesbank month-end buying, but can’t confirm.
USD/JPY remains narrow rangebound, effectively unchanged at 77.80.[...]
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Posted by: FastBrokers House
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Dec
29
2011
29
2011
Asian market wrap: EUR/JPY edges lower towards big level; By FastBrokers Research Team.
EUR/JPY was the lead pair in Asia, opening the session just above technical support at 100.75. The first two mini attempts to break lower proved futile, but as soon as Tokyo opened support was broken and stop-loss sell orders around 100.45 were triggered. Bounces have been anaemic with the market unable to regain the prior support levels. Major optionality beckons at 100.00. Ranges: 100.32/92 with USD/JPY trading 77.77/98
EUR/USD managed to take out some small barriers at 1.2900 when the EUR/JPY selling was at its peak but stalled ahead of supposedly decent-sized take profit orders around 1.2870 and 1.2850/60. More barriers are also touted at 1.2850. The Italian bond auction will be the major risk-event later tonight. Ranges: 1.2886/1.2944
AUD/USD played second fiddle in a 1.0041/99 range. Cable traded 1.5427/61 and USD/CHF .[...]
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Posted by: FastBrokers House
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