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        </image><item><title>Asian market wrap: China December CPI 4.1% YoY; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4522</guid><description><![CDATA[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 1.2700/28Most 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: 1.0281/1.0317Cable 1.5308/35; EUR/GBP .8285/.8306; EUR/JPY 97.60/84; USD/JPY 76.80/92; EUR/CHF 1.2110/30.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4522</link><pubDate>2012-01-12 00:00:00 -08:00</pubDate></item><item><title>Asian markets wrap: AUD slips on retail sales; EUR lower ahead of Merkel-Sarkozy; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4521</guid><description><![CDATA[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 97.25/75AUD/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: 1.0142/1.0213USD/JPY moved alongside flows in the crosses inside a tight range, 76.77/99.Cable 1.5394/1.5429. USD/CHF .9553/95]]></description><link>http://fastbrokers.com/commentary/view.php?id=4521</link><pubDate>2012-01-09 00:00:00 -08:00</pubDate></item><item><title>European market wrap: I've got the feeling the market's waiting for something; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4520</guid><description><![CDATA[I&rsquo;ve just got a feeling in my water that the market is waiting for something, but can&rsquo;t work out what.&nbsp;Narrow ranges have prevailed this morning.&nbsp; EUR/USD sits at 1.2785, hardly changed on the day.&nbsp; The pairing rallied early and edged slowly over 1.2800.ForexLive then reported sell orders clustered up at 1.2810/20.&nbsp;&nbsp;We got to 1.2812 session high and that was that and down we slowly drifted.&nbsp; Who&rsquo;s better than us?&nbsp; Answer: Absolutely no one Light stops seen above 1.2820.&nbsp; On downside buy orders clustered &nbsp;1.2750/60 ahead of 1.2750 barrier interest.Hopefully whatever the market&rsquo;s waiting for will soon break us out of this current malaise.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4520</link><pubDate>2012-01-06 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Late movement on North Korean rumours; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4519</guid><description><![CDATA[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&rsquo;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: 1.0202/69EUR/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&rsquo;s been so quiet, dealers had little else to do but to spread rumours, of which we&rsquo;ve had three. Ranges: 1.2760/99USD/JPY is presently being capped by corporate sell orders at 77.25/30. The Azumi comments had no effect. Range: 77.04/25Cable 1.5475/1.5507; USD/CHF .9515/43]]></description><link>http://fastbrokers.com/commentary/view.php?id=4519</link><pubDate>2012-01-06 00:00:00 -08:00</pubDate></item><item><title> US wrap: No let up in European fears; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4518</guid><description><![CDATA[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&rsquo;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.I&rsquo;m finishing up a few minutes early tonight as I have a dinner date scheduled with the renowned Adam Button, who will be joining us in the Boston office for the day tomorrow.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4518</link><pubDate>2012-01-05 00:00:00 -08:00</pubDate></item><item><title>market wrap: AUD drifts lower on mild profit taking; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4517</guid><description><![CDATA[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: 1.0306/73The 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&rsquo;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: 1.2911/47Hildebrands press conference will be watched with interest as he no doubt tries to distance himself from his wife&rsquo;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.USD/JPY was also miserably quiet in a 10 pip range with big real money and semi-official bids reported near 76.50, although bounces are very anaemic.Cable traded 1.5600/20.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4517</link><pubDate>2012-01-05 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Quiet consolidation in FX market; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4516</guid><description><![CDATA[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&rsquo;t maintain the gains and fell back quickly. Ranges: 1.0318/82EUR/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: 1.3020/58USD/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 .9312/40]]></description><link>http://fastbrokers.com/commentary/view.php?id=4516</link><pubDate>2012-01-04 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: China fixes Yuan at new record high ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4515</guid><description><![CDATA[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&rsquo;t yet been able to test the big option level at 100.00. Ranges: 100.28/68AUD/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: 1.0120/74EUR/USD traded relatively quietly, 1.2935/65. USD/JPY 77.49/73 and cable 1.5400/18.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4515</link><pubDate>2011-12-30 00:00:00 -08:00</pubDate></item><item><title>European Morning Wrap: Market remains risk averse as we head slowly toward the New Year ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4514</guid><description><![CDATA[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.&nbsp; Italian auction results got a lukewarm reception (having to pay 6.98% for 10 year money didn&rsquo;t go down&nbsp;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.&nbsp; EUR/GBP unchanged around .8365, having slipped back from earlier rally which reached session high .8397.&nbsp; The rallyette could have been related to Bundesbank month-end buying, but can&rsquo;t confirm.USD/JPY remains narrow rangebound, effectively unchanged at 77.80.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4514</link><pubDate>2011-12-29 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: EUR/JPY edges lower towards big level; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4513</guid><description><![CDATA[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 77.77/98EUR/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: 1.2886/1.2944AUD/USD played second fiddle in a 1.0041/99 range. Cable traded 1.5427/61 and USD/CHF .9416/50]]></description><link>http://fastbrokers.com/commentary/view.php?id=4513</link><pubDate>2011-12-29 00:00:00 -08:00</pubDate></item><item><title>Asia-Pacific Wrap: Japanese slowdown accelerating ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4512</guid><description><![CDATA[I hoped the round of Japanese data and the return of Australian markets would bring back liquidity and spark some trading but that didn&rsquo;t appear to be the case. The range in EUR/USD was a measly 14 pips with the market now slipping to the bottom end at 1.3063.The yen was the general outperformer as local stock markets declined. Adding to the yen pressure was the US FX manipulation report, which raised questions about future intervention. The weak Japanese data also pointed to the growing threat of a global slowdown.One exception was NZD, which jumped 25 pips only to later give back most of the gains.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4512</link><pubDate>2011-12-28 00:00:00 -08:00</pubDate></item><item><title>Asia-Pacific Wrap: BOJ sees continuing problems in Europe ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4511</guid><description><![CDATA[The market awoke right at the start of Asia-Pac trading with a jolt as AUD/USD promptly dropped 25 pips to erase the previous day&rsquo;s gain. Afterwards, gaps and air pockets continued to dominate, causing 20 pips moves across the market.The overall theme was a touch of risk aversion but EUR was an outperformer, perhaps due to some short covering ahead of year end.Gold was a standout as Asia sellers took it straight down from the open, slipping all the way to $1591 from $1616.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4511</link><pubDate>2011-12-27 00:00:00 -08:00</pubDate></item><item><title>European Wrap: Somebody closed Europe and forgot to tell me... ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4510</guid><description><![CDATA[lacklustre doesn&rsquo;t even describe it&hellip;EUR/USD opened around 1.3080 after the Asian markets attempted to take&nbsp; the Euro back through 1.3100.We,ve slipped back to 1.3062 this morning in painfully slow trade&nbsp; and most of the data releases have been generally euro negative, but with liquidity being drained rapidly and dealers heading off early&nbsp; , it&rsquo;s&nbsp; failed to break out of a 1.3062-92 range.Much&nbsp; the same in GBP/USD but&nbsp;soft BBA data, particularly the Oct service output&nbsp;, kept cable weak in the session in a 1.5663-08 range, with 10 yr gilt yields hitting fresh record lows below 2%. EUR/GBP&nbsp;hitched a lift on the data to 0.8345 from earlier lows of 0.8324.USD/JPY was a total non -event in a 78.01-08 range, and EUR/JPY&rsquo;s been sitting around 102.00 all morning.AUD/USD wasn&rsquo;t far behind in excitement either&nbsp;, trading&nbsp;1.0148-73EUR/CHF pushed up following the SNB&rsquo;s quarterly bulletin to 1.2242 from 1.2211, on the back of&nbsp;pledges from the central bank to maintain the peg at any time&nbsp;.Gold&rsquo;s losing it&rsquo;s shine with a drop from 1613 to 1605, and WTI Crude Oil couldn&rsquo;t hold above $100, easing to $99.54Most European bourses were showing gains of around 1% with the exception of the DAX which was up around 0.3%All in all a struggle to stay awake and it&rsquo;s not boding well for the NY session either..I&rsquo;ll be heading off at 1300GMT so it just leaves me to wish you all a very happy Xmas and best wishes for &nbsp;2012. &nbsp;Gerry and I will be back on Wednesday.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4510</link><pubDate>2011-12-23 00:00:00 -08:00</pubDate></item><item><title>Asia-Pac wrap: Earthquake in New Zealand ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4509</guid><description><![CDATA[Not bad for a pre-Christmas session and with Japan closed. A solid &lsquo;risk on&rsquo; tone permeated and volatility remained relatively low.The euro crept higher from 1.3050 at the open to 1.3080 before paring its gains in the last hour on some apprehension about European flows.It was a similar pattern throughout. One exception was the kiwi which whipsawed 30 pips on the earthquake headlines. At first it seemed as though there may have been a reasonable amount of damage (the deadly quake last year was a 6.3) but the first reports indicated nothing disastrous and NZD rebounded in 20 minutes.The positive tone and flows from NZD into AUD made pushed AUD easily to the top of the chart. AUD/USD climbed a respectable (for the asia-pac session) 50 pips at one point and has held most of its gains.There is no Asia-Pac coverage planned for Monday but I will be back Tues and Wed then Sean will return for the remainder of the week. Joyeuses F&ecirc;tes!]]></description><link>http://fastbrokers.com/commentary/view.php?id=4509</link><pubDate>2011-12-23 00:00:00 -08:00</pubDate></item><item><title>Currency News by Forexlive ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4508</guid><description><![CDATA[A mostly dull morning in Europe with a very sparse data calendar and&nbsp;no auctions for traders to find an excuse to really push the market convincingly.Market looks to be treading water ahead of the Italian senate approval of the latest austerity measures and announcement of the new Spanish cabinetEUR/USD opened around&nbsp; 1.3065 when I arrived and eventually took out some offers&nbsp; 1.3070/80 on Middle Eastern buying, but the move ran out of steam at 1.3120 before Asian sovereign sales&nbsp;and talk of a France downgrade whirred through the bush telegraph, which was enough to push euro back down to&nbsp; 1.3040 before sitting back where i came in.GBP/USD traded 1.5667-5729&nbsp; with little reaction around the 0930 GMT data release as a stronger Q3 GDP was&nbsp; countered by a record C/A deficit.&nbsp; Asian sovereign selling was noted above 1.5720 after early Middle eastern buying, and cable later then &nbsp;slunk back to the 1.5660&prime;s&nbsp; as EUR/GBP recovered from&nbsp; lows of 0.83135 to&nbsp; 0.8336 ( after earlier session highs around 0.83475)USD/JPY- Can&rsquo;t remember when it last moved&hellip;. &ndash; 78.00-13 covers&nbsp; it all. EUR/JPY stopped short of Wed highs of 102.54 and shadowed EUR/USD back down to 101.86 after highs of&nbsp; 102.36AUD/USD pushed higher with EUR/USD and stayed firm as EUR/AUD was battered lower again from 1.2954&nbsp; to 1.2882, with traders set to re-target yesterday&rsquo;s lows of 1.2864/65.&nbsp; AUD/USD traded 1.0087-1.0145WTI Crude pushed up to 99.35 before falling back to&nbsp; 98.50, and Gold&nbsp;fell about $10 from highs of $1617European bourses were in the black with gains of around 1-1.5%]]></description><link>http://fastbrokers.com/commentary/view.php?id=4508</link><pubDate>2011-12-22 00:00:00 -08:00</pubDate></item><item><title>Asia-Pacific wrap up: AUD and NZD the laggards ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4507</guid><description><![CDATA[It was a quiet session after some early slumps in the antipodeans. The range in EUR/USD was 19 pips from 1.3033 to 1.3052 with the entire breadth occurring in the first hour of trading.NZD initially jumped on the higher headline reading from the GDP report but it quickly pulled back and turned lower as the details of the report showed sharp downward revisions and unsustainable gains from inventory builds.Techs continue to eye EUR/AUD after yesterday&rsquo;s breakdown to a record low. The pair drifted higher on the early round of AUD selling but stopped well short of the recent highs and began to slip.Gold got some attention due to a slow, steady $7 slide that has pushed the precious metal to $1608, just a couple dollars above the US lows.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4507</link><pubDate>2011-12-22 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Hells bells and buckets of blood!!! ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4506</guid><description><![CDATA[Well well, that was lively.&nbsp; EUR/USD sits at 1.3095, marginally lower than the 1.3115 which greeted me first thing.&nbsp; Inbetween though we&rsquo;ve been as high as 1..3197.Pairing rallied early, helped by&nbsp;comment from Unicredit CEO (see above), &nbsp;but selling by the BIS around 1.3145 slowed the upside momentum.&nbsp; We dipped briefly only to run into decent Middle Eastern buying.&nbsp;Just ahead of the ECB LTRO announcement at 10:15 GMT we were around 1.3150.Early reports had sell orders clustered up at 1.3180/00 and they just about held the rally which came with the news ECB had alloted a much stronger than expected 489.92 euros during their LTRO.Then as periphery/German bond yield spreads started to widen out again, so EUR/USD came quickly lower in illiquid markets.&nbsp;Personally I think everyone had recent comments from FX&nbsp; Concepts in the back of their mind, but that&rsquo;s just me.&nbsp; (ps I&rsquo;ve been hyping you guys the past week or so. where&rsquo;s that job offer?)Buy orders now said to be clustered down at 1.3050/65, probably sell stops not far below there (although don&rsquo;t have confirmation of that second part, just highly educated guess on my part)USD/JPY sits unchanged at 77.80.&nbsp; You gotta just love it.&nbsp; EUR/JPY down at 101.90 from early 102.o5.&nbsp;&nbsp;&nbsp;&nbsp;Talk this morning large US name has been busy buying 3-month calls in the cross with a 105.0 expiry.&nbsp; Said to have done up to half a yard of euros.&nbsp; Don&rsquo;t see it meself, but then what do I know&hellip;&hellip;That&rsquo;s &nbsp;me almost done.&nbsp; Merry Christmas to y&rsquo;all. I&rsquo;ll be back next Wednesday.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4506</link><pubDate>2011-12-21 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Market on hold ahead of LTRO ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4505</guid><description><![CDATA[.The AUD has again been the stand-out performer, just as it was overnight, and interbank reports suggest that leveraged players have been piling into the AUD crosses. EUR/AUD is testing record lows near 1.2925. AUD/USD opened near 1.0080, dipped slightly in early trade before gaining fresh momentum in thin markets, on the break above 1.0100. Ranges: 1.0055/1.0144EUR/USD followed the AUD lead, opening near 1.3080, spiking to 1.3120, and then consolidating quietly. Ranges: 1.3073/1.3126Cable 1.5656/85; USD/JPY 77.73/91; USD/CHF .9281/.9321]]></description><link>http://fastbrokers.com/commentary/view.php?id=4505</link><pubDate>2011-12-21 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Risk on this morning ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4504</guid><description><![CDATA[I pressed the wrong button and published my draft morning wrap, so you&rsquo;re getting it early today.Risk on;&nbsp; European stocks recovering from early weakness,&nbsp; NYM light crude up about one and a half bucks, Gold up $8 bucks from when I sat down,&nbsp; US treasury yields firmer, periphery/German bond yield spreads narrower, yada, yada, yada.EUR/USD up at 1.3080 from early 1.3015.&nbsp; Sell orders were noted clustered at&nbsp;1.3017/22 early, but these were blown out when a UK clearer bought aggressively around 1.3020.&nbsp; BIS stepped in and sold in the 1.3040/45 area,&nbsp;slowing the rally, but a combination of better than expected Ifo data and strong Spanish bill auctions helped put the euro bulls in the driving seat.We&rsquo;ve been as high as 1.3089 after buy stops tripped through 1.3055.Cable up at 1.5630 from early 1.5525, having been as high as 1.5649.&nbsp; Middle Eastern sovereign buying was noted early setting the tone for the morning.EUR/GBP down at .8365 from early .8380, having been as low as .8352.&nbsp; Talk of barrier option interest at .8350.USD/JPY unchanged at 77.95.AUD/USD up at .9995 from early .9945, underpinned by improved risk appetite.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4504</link><pubDate>2011-12-20 00:00:00 -08:00</pubDate></item><item><title>market wrap: RBA minutes but little else of note ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4503</guid><description><![CDATA[Another total snore-fest in Asia with 20-pip ranges in EUR/USD and 10 pip ranges in USD/JPY, really not worthy of a mention.The AUD and the NZD were again the only currencies to make any move. The AUD got a lift from the perhaps less-dovish than expected RBA minutes, managing to rally from .9895 earlier in the day to highs near .9940. Solid selling interest managed to cap the AUD/USD. The NZD/USD again saw corporate buying interest on the approach to .7520, and it was the days big winner, rising by 0.75%. Ranges: AUD/USD .9889/.9940; NZD/USD .7542/.7605]]></description><link>http://fastbrokers.com/commentary/view.php?id=4503</link><pubDate>2011-12-20 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: You don't see that very often; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4502</guid><description><![CDATA[EUR/USD sits effectively unchanged at 1.3010.&nbsp; Asia traded a 1.2980-1.3043 range, and not for one minute did we look likely to break out of that range this morning in Europe.&nbsp; Something of an uncommon occurrence for Europe to see less animated trade than Asia.&nbsp;European stocks clawed back early losses helping support EUR/USD,&nbsp;but there just wasn&rsquo;t any followthrough.&nbsp; One inhibiting factor to accelerated single currency gains is no doubt the threat of a French downgrade, which hangs over the market like the sword of Damacles.Cable touch easier at 1.5480, EUR/GBP up at .8410 from early .8395.&nbsp; Comments made by BOE&rsquo;S Fisher in an interview with Market News (see above)&nbsp;didn&rsquo;t help sterling any.&nbsp; Major Swiss player seen selling&nbsp; cable after the&nbsp;comments came out.USD/JPY unchanged at 77.90.&nbsp; USD/CHF&nbsp; effectively unchanged at .9360.Ding Dong merrily on high, in heav&rsquo;n the bells are ringing]]></description><link>http://fastbrokers.com/commentary/view.php?id=4502</link><pubDate>2011-12-19 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: North Korean President dies ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4501</guid><description><![CDATA[Moderately busy session, considering that it is the lead up to Christmas. Risk-aversion was in play early on, with the spectre of the French downgrade weighing on the market as indeed were more worries about the falling momentum in the Chinese economy. Reports that Kim Jong-il had died, sent stock markets lower and USD/Asia higher, and this sentiment washed over into the majors.AUD/USD opened near .9980 and has fallen by 1% through the session. The initial losses were on the back of the general risk-off sentiment as well as reports that the Chinese property market is turning lower. It fell to .9930 and then bearish momentum increased on the Korean news. Solid bids near .9900 held on a number of occasions but dealers did manage, barely, to trigger stops just below .9900. Ranges: .9896/.9988EUR/USD followed a similar pattern to the AUD. It managed some minor gains in early trade, on the back of reports quoting German FinMin Schaeuble as saying that Germany may pay its full ESM complement in 2012. The comments from Draghi, downplaying any possibility of ECB bond-buying, plus the continued sense that S&amp;P will downgrade France, soon erased any bullish momentum. Going was very slow until the North Korean developments saw EUR/USD fall swiftly below 1.3000. Ranges: 1.2984/1.3043.USD/JPY, unusually, saw a quick 40 pip spike on the developments in North Korea but risk-aversion has proven the more potent force and USD/JPY will end the session about 10 pips higher overall. Solid corporate offers at 78.25 are still dissuading the bulls. Ranges: 77.71/78.15Cable 1.5463/1.5543; USD/CHF .9357/99]]></description><link>http://fastbrokers.com/commentary/view.php?id=4501</link><pubDate>2011-12-19 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Irish eyes sure ain't feckin smiling today ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4500</guid><description><![CDATA[Anyone would think Christmas was just around the corner.&nbsp; Extremely boring trading conditions.&nbsp; Sell stops seen through 1.3000 in EUR/USD, buy stops through 1.3050, and we didn&rsquo;t manage to trigger either.&nbsp; We sit at 1.3022 from 1.3026 when I sat down. Tells you all you need to know.Anyways, rumour of imminent S&amp;P downgrades for Italy and Spain (see above) saw us dip early to session low 1.3002. But despite rumour, periphery/German bond spreads narrowed nicely and this helped support the single currency.We rallied back and for a little while it looked like the euro bulls might even manage to trip the aforementioned buy stops through 1.3050.&nbsp; The release of truly awful Irish growth data put the kibosh on that one.&nbsp; Rather downbeat comments from&nbsp; Troika/EBA officials (see above) didn&rsquo;t help either.Cable and USD/JPY effectively unchanged at 1.5535 and 77.90 respectively.AUD/USD touch firmer at .9990 from early 9965.&nbsp; Rumour of imminent Chinese RRR cut (see above) will be helping lend&nbsp;some much-needed&nbsp;support.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4500</link><pubDate>2011-12-16 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: USD edges lower to finish the week; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4499</guid><description><![CDATA[There has been a gradual sell-off in the USD throughout the day. The actions by the Indian central bank sent USD/INR lower and the Indonesian upgrade sent USD/IDR lower. Surprising selling in the USD/CNY by PBOC proxies also affected USD sentiment.In the major currencies, it was the NZD leading the way. Solid bids at .7520 earlier this morning set the tone and then the market set about triggering stop-loss buy orders above .7580. The 1% move higher has been slow and orderly and there has been no retrace yet. Range: .7521/97AUD/USD has followed the lead of the NZD, edging slowly higher through the session in a .9914/84 range.EUR/USD has had a quiet 35 pip range, moving higher more from light USD bearishness rather than any change in EUR sentiment. Range: 1.3009/44.USD/JPY 77.76/91 is again at the mercy of cross-flows and corporate bids/offers.Cable 1.5502/43; USD/CHF .9385/.9406]]></description><link>http://fastbrokers.com/commentary/view.php?id=4499</link><pubDate>2011-12-16 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Swissy firm as SNB leaves peg at 1.2000; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4498</guid><description><![CDATA[Main feature of this morning&rsquo;s trade has been the firming of swissy, the SNB deciding to keep the peg at 1.2000 for the time being.&nbsp; USD/CHF down at .9440 from early .9540, EUR/CHF down at 1.2265 from early 1.2390.Buy orders now seen down at 1.2250, sell stops through 1.2220. The 200 dma lies down at 1.2198/1.2201/1.2202, depending on who you speak to EUR/USD up marginally at 1.2995 from early 1.2980.&nbsp; Middle Eastern names seen buying early and we moved over 1.3000. Buy stops eventually tripped through 1.3020 and we got to session high 1.3037 (early reports on Forexlive&nbsp;had sell&nbsp;orders clustered 1.3035.45, and how right we were!!)News SNB had left&nbsp;EUR/CHF&nbsp;&nbsp;peg at&nbsp;1.2000 prompted sharp sell off in the cross, which inturn dragged EUR/USD lower.Real money selling was noted again this morning and they were said to have whacked the single currency particularly hard around 1.2990/00.&nbsp;A decent Spanish auction and talk of a large 1.3000 option expiry later&nbsp;today&nbsp;have however helped&nbsp;provide support.Reports buy orders now clustered 1.2945/55, sell stops through 1.2940.&nbsp; Large option interest down at 1.2900.Cable firmer at 1.5505 from early&nbsp;1.5435, supported by the&nbsp;heavy EUR/GBP cross. UK clearer and large US commercial bank notable sellers of the cross this morning.&nbsp; We&rsquo;re down at .8380 from early .8405.USD/JPY sits at 77.90, very marginally easier from early 78.05. We remain ostensibly narrow rangebound in this pairing.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4498</link><pubDate>2011-12-15 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Tankan shows drop in Japanese manufacturing sentiment; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4497</guid><description><![CDATA[Neither the Tankan nor the HSBC flash PMI managed to drag the Asian FX market out of its torpor, with EUR/USD only managing a 20 pip range for the last 8 hours.USD/JPY is being influenced by conflicting forces; on one hand is the strong USD-bullish sentiment but opposing this is the risk-aversion plays in the JPY crosses as well as heavy corporate offers every 25 pips until 80.00; hence the stalemate. Range: 77.96/78.14AUD/USD did manage a 40 pip range but it didn&rsquo;t feel that way, with most of the session spent at .9890/95. Sentiment remains bearish but after a 3% fall already this week, bids are starting to appear in reasonable size. Range: .9877/.9916EUR/USD had one of its quietest sessions of the year, trading inside a 20 pip range 1.2977/97. Asia had no reason to trade ahead of the SNB and the Spanish bond auctions.EUR/CHF edged higher with the market anticipating that the SNB will raise the EUR/CHF base to 1.2500 later tonight. Sell orders noted in the cross 1.2425/50.Cable range 1.5435/74.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4497</link><pubDate>2011-12-15 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Barrier option interest at 1.3000 gives out, but it takes all morning; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4496</guid><description><![CDATA[EUR/USD down at 1.2980 from early 1.3030, the euro bears finally managing to blow up the large 1.3000 barrier option interest.&nbsp; Came in very late morning trade, the majority of the session tedious in the extreme.We had a couple of half-hearted rally attempts, first reached 1.3050, second 1,3063.&nbsp; Model funds and infamous US investment house notable sellers into the rally attempts.Small barrier interest now seen at 1.2975, larger down at 1.2950.Cable marginally firmer at 1.5495 from early 1.5480 in slowish trade. Slightly better than expected UK jobs report lent modicum of support. EUR/GBP down at .8375 from early .8415,&nbsp; well-noted dnt interest at 8400 having been breeched and important support at .8389 pierced.&nbsp; Close below said level seen as very bearish for the cross.USD/JPY touch firmer at 78.05 from early 77.95.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4496</link><pubDate>2011-12-14 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Barriers holding EUR/USD up for now; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4495</guid><description><![CDATA[Once again a forgettable trading session in Asia with only the AUD/USD again showing some volatility.AUD/USD closed in NY at 1.0025 and dealers were intent on taking it below parity so see if more stop-loss sell orders could be triggered. If there were any, they were small, and reports of Sovereign buyers, including China, soon had the shorts running for cover. The rest of the session has been spent in sideways trading at 1.0020. Range: .9978/1.0030.In EUR/USD, Asia never had the firepower to threaten well-protected barriers at 1.3000, and we couldn&rsquo;t get below 1.3013, even when the AUD/USD was running lower. Bounces have again been shallow with bears in control. Ranges: 1.3013/45USD/JPY 77.90/78.04; USD/CHF .9439/69; Cable 1.5465/95]]></description><link>http://fastbrokers.com/commentary/view.php?id=4495</link><pubDate>2011-12-14 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Jingle bells, jingle bells, jingle all the way.. ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4494</guid><description><![CDATA[This morning had a real end of year feel to it.&nbsp; Maybe it was because a number of our sources were salivating at the thought of&nbsp; pending Christmas lunches (lucky chaps)EUR/USD effectively unchanged on the day at 1.3195.&nbsp; Russia notable seller early, but we didn&rsquo;t get very far.&nbsp; Real money profit-taking on recent short possies helped cushion&nbsp;the sell-off and we settled into a very uninspired&nbsp;narrow range trade.That&rsquo;s until Dow Jones reported news that German parliament ready to support Bundesbank funds for the IMF.&nbsp;&nbsp;&nbsp;From below 1.3200 we spiked&nbsp;higher,&nbsp; tripping buy stops through 1.3225 on the&nbsp;way to session high 1.3236.&nbsp; Major US commercial bank notable buyer during this rally.We then drifted back lower amid reports of decent sell orders lined up at 1.3245/50. The sell-off accelerated on the news Greece, private bondholders&rsquo; talks in Athens have ended without a deal.Cable and USD/JPY effectively unchanged at 1.5600 and 77.85 respectively.All in all a session best forgottten.Roll on Christmas.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4494</link><pubDate>2011-12-13 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: EUR consolidates just above important technical support; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4493</guid><description><![CDATA[Once again the AUD was the main mover in what was another very quiet Asian session. AUD/USD closed in NY around 1.0065 but dealers were already eyeing stop-loss sell orders below 1.0040. Some Aussie selling out of Tokyo in early trade provided the momentum to trigger the stop-losses. The pair broke below 1.0040 but solid bids at 1.0025/30 easily stalled the fall. We have seen some modest short covering late in the session. Ranges: 1.0026/96.EUR/USD has been very quiet despite a volatile night in Europe and the US. Bids around the NY lows at 1.3160 proved strong enough to hold the pair but bounces have also been shallow. The market has beeen eyeing an important chart low at 1.3145, with bids ahead of there and stops below. Barriers are also reported at regular intervals on downside, with large ones at 1.3000.&nbsp;There have been no major announcements regarding the EU or EZ and the market is now awaiting the German ZEW in a few hours. Ranges: 1.3159/1.3205.USD/JPY has again been comatosed in a 12 pip range, 77.84/96. Cable 1.5571/1.5619; USD/CHF .9359/87.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4493</link><pubDate>2011-12-13 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Risk off, innit bro; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4492</guid><description><![CDATA[Risk off at the start of the week.&nbsp; European stocks, oil, gold, US treasury yields all lower. Yada, yada, yada, you know the gig by now.&nbsp; Elsewhere, periphery/German bond yield spreads have experienced a marked widening, the market seemingly unimpressed with what came out of&nbsp;last weeks EU summit. The weekend press coverage was just plain harsh.EUR/USD down at 1.3260 from early 1.3340, the move accelerating when stops tripped through 1.3290.&nbsp; Leveraged names notable sellers this morning.Talk of 1.3250 barrier option interest and we&rsquo;ve been as low as 1.3252 (EBS) Talk is the barrier interest has a panda whiff to it (ie China)&nbsp; BIS has been in buying in the 1.3250/60 area, helping provide tenuous support for the single currency.Cable up at 1.5625, hardly changed from early 1.5630.&nbsp; Inbetween though we&rsquo;ve been as low as 1.5534 and all the way back up.&nbsp; I don&rsquo;t think the news that Deutsche sees UK QE up to &pound;400 bln in 2012 (see above) helped sterling any in early trade.However Middle eastern sovereign buying helped lend support, as did interest to sell the EUR/GBP&nbsp;cross (see below)EUR/GBP down at .8485 fom early .8532, having been as low as .8477.&nbsp; Sources report a large pharmaceutical company having a decent interest to sell the cross this morning, apparently related to dividend payments.USD/JPY&nbsp;little changed at 77.75.AUD/USD down at 1.0120 from early 1.0175,&nbsp;&nbsp; aussie not helped by general risk off backdrop.&nbsp; As well as the euro zone crisis, there are increasing worries a slowing China could negatively impact the Australian economy.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4492</link><pubDate>2011-12-12 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: No movement again in Asia : By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4491</guid><description><![CDATA[EUR/USD closed in NY around 1.3370 and spent the entire Asian morning trading around this level. Even the early interbank market was quiet, trading in a 30 pip range 1.3365/95. Comments from the Bundesbank and ECB members didn&rsquo;t have much impact. CFTC data suggests that the market has reduced it&rsquo;s heavy EUR shorts somewhat, but still remains very short. We are pushing toward session lows as the session winds down. Range: 1.3335/95AUD was impacted by falling metal prices and has drifted lower through the session. Higher equity prices have been ignored and local bank dealers suggest that corporate selling may outweigh buying in coming days up to Christmas. Interest has been very low but the market has edged slowly lower. Ranges: 1.0157/1.0213USD/JPY has been motionless in a 12 pip range. Cable traded 1.5625/65 and USD/CHF .9242/82.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4491</link><pubDate>2011-12-12 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Early morning jitters morph into apparent optimism : By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4490</guid><description><![CDATA[Been quite a marked turnaround in sentiment this morning.&nbsp; Early jitters have morphed into apparent optimism, European stocks rallying very strongly after a weak start while the single currency has had a decent morning.EUR/USD up at&nbsp; 1.3405 from early 1.3330.&nbsp; Inbetween we&rsquo;ve been down to&nbsp;1.3280 and all the way up to 1.3433 in very volatile trade.Early sell off reached 1.3280, single currency not helped by Moodys&rsquo; downgrading French banks.&nbsp; Sovereign buying (both Middle Eastern and Asian) then lent support and we were quickly back over 1.3300.Reports of ECB buying Italian and Spanish bonds helped provide a little more support.&nbsp; Talk had sell orders clustered up at 1.3340/50 with stops just above and indeed there was a major tussle around 1.3350.The euro bulls won out and the single currency ground higher. Then Dow Jones carried comments from the Bundesbank, that they are &ldquo;fundamentally open&rdquo;&nbsp; to bilateral loans to the IMF and we spiked quickly over 1.3400 to session high 1.3433 before settling back.Cable up at 1.5705 from early 1.5615, the rally acclerating when buy stops tripped]]></description><link>http://fastbrokers.com/commentary/view.php?id=4490</link><pubDate>2011-12-09 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap; choppy on EU headlines : By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4489</guid><description><![CDATA[Both Japan and Korea downgraded GDP assessments for next year.    Regional stocks finished the day almost 2% lower on average.    Gold $1710/oz, Oil $98/bbl.Ranges: EUR/USD 1.3313/58; AUD/USD 1.0093/1.0190]]></description><link>http://fastbrokers.com/commentary/view.php?id=4489</link><pubDate>2011-12-09 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: We is waiting...and waiting ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4488</guid><description><![CDATA[Not too much going on as we wait for European Central Bank and Bank of England rate decisions and after that the start of the EU summit in Brussels which commences at 18:30 GMT.EUR/USD effectively unchanged at 1.3405.&nbsp; Middle Eastern buying managed a half-hearted rally, which reached the dizzy heights of 1.3430 before fizzling out.&nbsp; Report of Luxembourg Foreign Ministers&rsquo; comments in Die Welt (see above) hardly helped the single currency.USD/JPY down at 77.40 from early 77.65.&nbsp; Such has been the paucity of USD/JPY price action recently, the 25 pip decline seems quite marked.&nbsp; Japanese sellers were reported early.Cable up marginally at 1.5720 from early 1.5705, having been as high as 1.5744 at one jucture.&nbsp; Middle Eastern buying seen early in this pairing as well.&nbsp; UK clearer also notable buyer amid ongoing mutterings of M&amp;A flow interest.&nbsp; 55 dma seen at 1.5748.AUD/USD up marginally at 1.0287 from early 1.0265.&nbsp; ACB buyer seen early.&nbsp; Talk of &ldquo;decent&rdquo; sell orders lined up at 1.0300/20.&nbsp; Also talk of some buy stops gathering through 1.0310.&nbsp;PS Sorry for early posting of wrap. Thought it was later than that. Time flies when you&rsquo;re enjoying yourself.&nbsp; As I&rsquo;m not enjoying myself it&rsquo;s going reeeeeeeeeeeeeal slow.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4488</link><pubDate>2011-12-08 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Very quiet ahead of ECB meeting tonight ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4487</guid><description><![CDATA[The Aussie has again been the most volatile of the G10 currencies, trading in a 70 pip range after disappointing jobs data. Rumours in the market had suggested that the unemployment number might be a pleasant surprise but the opposite was in fact the case. AUD/USD traded near 1.0280 for most of the morning but then fell down to test short-term support levels at 1.0230 after the poor number. Support levels held and the pair has idled at mid-range levels since then. Ranges: 1.0229/99EUR/USD has been very quiet again, ahead of some major risk events. The pair opened in Asia near 1.3400 for the 4th successive day and hasn&rsquo;t look likely to move too far away from there as traders avoid it ahead of the ECB and the EU summit. The only pair of interest in the crosses was EUR/AUD, where technical support at 1.3020 continues to hold. Ranges: 1.3389/1.3421.USD/JPY 77.57/69; Cable 1.5690/1.5715; USD/CHF .9226/53.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4487</link><pubDate>2011-12-08 00:00:00 -08:00</pubDate></item><item><title>European wrap: Euro shows a bit of backbone after S&#x26;P's announcement...... ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4486</guid><description><![CDATA[Europe opened with risk off the table after&nbsp;a &nbsp;late NY announcement from S&amp;P that Europe 17 states will be put on a negative credit watch with a view to possible downgrades.&nbsp; Asia followed sentiment in NY with equities drifting lower along with risk currencies, aided by a RBA rate cut of 25 bpsEUR/USD opened around 1.3375/80 and&nbsp; fell on early leveraged sales to 1.3333 having tweaked some sell stops down through 1.3350.Comments that US wouldn&rsquo;t boost IMF funds added to the negative tone, but&nbsp; Middle Eastern buying recovered the move and weak Swiss CPI helped EUR back up to around 1.3380.Hedge Funds then attempted to sell it back down, but strong German Mfg data&nbsp; led a move up through 1.3400 through some 1.3410 stops to 1.3428, before drifting back to 1.3400.GBP/USD tracked the EUR through&nbsp; 1.5591-1.5664 , but lagged the move higher as EUR/GBP&nbsp; jumped from early lows of o.8538 to 0.&nbsp;8580EUR/CHF&nbsp; got a leg up on weaker&nbsp; CPI with a bounce from 1.2360 to 1.2419, but is still&nbsp;struggling to maintain a foothold above 1.2400, and slipped off later again to 1.2370AUD/USD found good support ahead of sell&nbsp;stops at 1.0150, trading a 1.0156-1.0255 range with real money buying and EUR/AUD selling&nbsp; keeping&nbsp; the pair buoyed up after the O/N rate cut from the RBAUSD/JPY continues to struggle to hold onto&nbsp; even the smallest gains drifting off to 77. 63 despite&nbsp; a firmer EUR/JPY.EUR/JPY picked up with EUR/USD from&nbsp; 103.64 to 104.34&nbsp;, before running into offers.January Nymex WTI perked up to 101.28 from 100.37 and Gold tacked on $10 to 1723European&nbsp;indices were flat to marginally lower with the DAX the larger faller by around -0.8%]]></description><link>http://fastbrokers.com/commentary/view.php?id=4486</link><pubDate>2011-12-06 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: RBA cuts rates by 25 bps ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4485</guid><description><![CDATA[Somewhat of a &lsquo;risk-off&rsquo; day in Asia after S&amp;P threatened to put the whole of Europe on negative watch.AUD/USD was the main focus of attention but it traded in a fairly tight range between 1.0230/70 for the majority of the session pre-RBA. The pair fell below 1.0200 immediately after the announcement and has spent much of the last few hours consolidating those losses. Bids at 1.0180 held for a lengthy period but stops below 1.0160 are being threatened as I write. Range: 1.0165/1.0271EUR/USD has traded with a heavy tone for much of the session but has been unable to break through bids at 1.3360. There have been no major announcements regarding the EU debt situation. Range: 1.3360/1.3404USD/JPY 77.67/85; Cable 1.5614/49; USD/CHF .9196/.9230.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4485</link><pubDate>2011-12-06 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Waiting for godot ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4484</guid><description><![CDATA[Waiting for Godot, or rather Merkel and Sarkozy who are busy plotting the future of the euro zone somewhere in Paris.EUR/USD up at 1.3440 from early 1.3405, having been as high as 1.3460.&nbsp; Risk sentiment generally good this morning.&nbsp; Selling out of the Middle East capped the gains.USD/JPY about 10 pips firmer&nbsp;on the day&nbsp;at 78.05, underpinned by Middle Eastern buying.&nbsp; Risk on backdrop and higher US treassury yields helping support pairing.Cable up at 1.5645 from early 1.5600.&nbsp; Better than expected UK services PMI (see above) have lent the pairing support.&nbsp; Sources note sell orders clustered up at 1.5665/75 and they&rsquo;ve so far capped gains.AUD/USD up at 1.0255 from early 1.0215.&nbsp; Risk on innit]]></description><link>http://fastbrokers.com/commentary/view.php?id=4484</link><pubDate>2011-12-05 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Some rays of hope out of Europe ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4483</guid><description><![CDATA[EUR/USD saw some mild volatility in early interbank trade but has stagnated near 1.3410 for the last 5 hours. The pair opened a little lower than its NY closing levels near 1.3400 but rallied on the announcement of the Italian austerity measures. There were various rumours floating around regarding the Merkel-Sarkozy meeting today, possible implications for ECB intervention and also how the IMF may become involved. Nothing could move the market. Ranges: Interbank 1.3378/1.3438, otherwise 1.3396/1.3435AUD/USD also had a quiet day, ignoring both the weekend Chinese data and todays HSBC numbers. The market is in hold ahead of tomorrow&rsquo;s RBA decision where a slight majority seems to favour a 25bps rate cut although I will again disagree as I feel the crisis in the EU will be enough to encourage Glenn Stevens to wait until February. Ranges: 1.0206/66USD/JPY 77.89/78.10; Cable 1.5587/1.5631; USD/CHF .9196/.9226]]></description><link>http://fastbrokers.com/commentary/view.php?id=4483</link><pubDate>2011-12-05 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Non farm payrolls' rumour spices up proceedings ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4482</guid><description><![CDATA[Rumour that non farm payrolls are going to come in at +200k (median forecasts 120k) has helped give risk sentiment a decent boost.EUR/USD up at 1.3528 from early 1.3460 having been as high as 1.3538 (EBS) or 1.3535 (Reuters) so far.The pairing ticked a touch higher in early trade, but selling by BIS (around 1.3470) and ACB (around 1.3480) helped slow progress.&nbsp; We heard the rumour when the pairing was sitting at a comatose 1.3480, but as it circulated so the pairing started to move higher.&nbsp; Slowly at first and then catching fire.Obviously solid gains by European stocks and narrowing periphery/German govt bond spreads early had lent the single currency&nbsp;underpinning, but it wasn&rsquo;t till the rumour that we got up a real&nbsp;head of steam.Cable up at 1.5705 from early 1.5675, underpinned by risk on environment.&nbsp; EUR/GBP up at .8615 from early .8585, buy stops tripped through .8600.AUD/USD up at 1.0285 from early 1.0220 as one would expect against risk on backdrop.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4482</link><pubDate>2011-12-02 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Very quiet finish to the week ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4481</guid><description><![CDATA[Very quiet day in Asia with all of the majors trading inside 40 pip ranges.EUR/USD did try to move higher in early morning trade, spurred on by talk of stop-loss buy orders above 1.3530, but the market never had enough momentum to get there. Intraday longs gave up after lunch and we&rsquo;ve seen a drift back to the NY closing level. Ranges: 1.3447/87AUD/USD traders took the day off after some very busy sessions recently; range 1.0203/43USD/JPY 77.64/87; Cable 1.5666/96; USD/CHF .9143/74]]></description><link>http://fastbrokers.com/commentary/view.php?id=4481</link><pubDate>2011-12-02 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Space ship crashes in New York (not really, but it's an interesting headline) ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4480</guid><description><![CDATA[The morning has hummed along nicely again, but like yesterday morning not too much net change on the major spots and crosses.&nbsp; Talking about yesterday, I&rsquo;m glad I slipped out when I did EUR/USD up marginally at 1.3485 from early 1.3460. Inbetween we&rsquo;ve been&nbsp;down initially to session low 1.3417, followed by robust rebound which reached a session high 1.3505 at one stage.Comment&rsquo;s by ECB&rsquo;s Draghi (see above)&nbsp;initally put the single currency under fairly heavy pressure, and despite reports of both BIS and Bank of Korea buying around 1.3450 we reached the 1.3417.&nbsp;We had earlier received reports of buy orders clustered down &ldquo;around 1.3420&Prime; and they proved pretty much spot on.&nbsp; We ticked back higher and then news of successful Spanish and French bond auctions got us fleetingly back above 1.3500.Much talk of &ldquo;very large&rdquo; maybe even &ldquo;huge&rdquo; 1.3500 option expiry at todays&rsquo; New York cut, and we haven&rsquo;t strayed very far from there in late moring European trade.Cable up at 1.&nbsp;5725 from early 1.5700.&nbsp; Release of better than expected manufacturing PMI has lent a modicum of support. Asian sovereign reported decent buyer this morning.USD/JPY effectively unchanged at 77.70.USD/CHF down at .9095 from early .9140.&nbsp; EUR/CHF cross down at 1.2265 from early 1.2305]]></description><link>http://fastbrokers.com/commentary/view.php?id=4480</link><pubDate>2011-12-01 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: China PMI falls below 50; Equity markets +4% ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4479</guid><description><![CDATA[The AUD has again been the most volatile of the G10 currencies but will end the session almost unchanged. The early pressure was all to the downside with talk of a poor China PMI leading market sentiment. Lower than expected retail sales also spurred on the bears. After opening at 1.0265, AUD/USD initially fell to 1.0220, stalled initially after the China PMI as the market was already short, but picked up a second wind at lunchtime to break below 1.0200. Those losses were quickly reversed in the afternoon as higher equity markets favoured the risk-on pairs like AUD/JPY. Ranges: AUD/USD 1.0180/1.0289EUR/USD has been surprisingly quiet after big overnight ranges. There has been no talk of flows or orders at all today in the EUR, although EUR/AUD did recover after some big losses overnight. Ranges: 1.3429/73USD/JPY has been quiet again in a 77.49/74 range; there is increasing speculation that Japanese authorities will push for cooperation on intervention after last nights central bank cooperation.Cable 1.5671/1.5717; USD/CHF .9122/50]]></description><link>http://fastbrokers.com/commentary/view.php?id=4479</link><pubDate>2011-12-01 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Interesting morning. Hummed along nicely ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4478</guid><description><![CDATA[Not a huge amount of net change in the major spots and crosses this morning, but it&rsquo;s been an interesting session.EUR/USD sits at 1.3305,&nbsp;down &nbsp;from early 1.3335, having been as low as 1.3257 (if you take&nbsp;Reuters&rsquo; prices) or 1.3259 (if you prefer EBS)The single currency fell early, underminned by the &nbsp;sharp decline in the Shanghai index and the prospect of sharply lower European stocks.&nbsp; Things really accelerated on the downside however when comment from an&nbsp;Italian market regulator hit the wires. Official opined that there is a risk of euro break up if ECB&rsquo;s role remains unchanged.&nbsp; OK we all kinda know that, but what the heck.Sell stops were duly tripped through 1.3270 accelerating the sell-off, but much talk&nbsp;of 1.3250 barrier option interest prompted some to book profits.We started a slow recovery which gathered pace on news PBOC had cut reserve ratio requirements and Market News&nbsp;story that ECB prepared to be&nbsp;more flexible on a number of fronts (see above) This double whammy sent EUR/USD shooting up through 1.3300.Cable sits at 1.5590, little changed from early 1.5600, recovering nicely from sharp sell-off which saw session low 1.5524 posted.&nbsp; We heard reports of decent buy orders lined up at 1.5505/20 and this prompted shorts to book profits resulting in sharp rally back.USD/CHF touch firmer at .9225 from early .9195.&nbsp; EUR/CHF up very marginally at 1.2275 from early 1.2265.&nbsp; Reports of &ldquo;large corporate&rdquo; &nbsp;bids lined up down at 1.2250.AUD/USD up at 1.0040 from early 1.0005.&nbsp; The move by the PBOC (China)&nbsp;to cut reserve ratio requirments 50 bps has helped underpin aussie.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4478</link><pubDate>2011-11-30 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: No change in Asian trade ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4477</guid><description><![CDATA[EU FinMin meetings will continue into Wednesday with the market awaiting more information on the EFSF, which is now expected to be leveraged between 2 and 3 times. Greece will receive its next tranche of aid and talks continue over changes to tighten fiscal rules.EUR/USD rallied in early trade on some of the EFSF headlines but it has struggled to maintain any momentum with traders sidelined ahead of month&rsquo;s end. We close near the middle of a 50 pip range though we can expect some serious movement tonight with orders and flows increasing. Range: 1.3306/58AUD/USD was also busy, moving higher in the morning to take out weak stops just above the overnight highs but then falling quickly back towards opening levels. .9993/1.0086USD/JPY again tried to rally early in the forlorn hope of some intervention but it has drifted back lower as the session progressed. Ranges: 77.84/78.10Cable 1.5581/1.5624; USD/CHF .9180/.9219]]></description><link>http://fastbrokers.com/commentary/view.php?id=4477</link><pubDate>2011-11-30 00:00:00 -08:00</pubDate></item><item><title>European Morning wrap: Choppy, volatile, markets ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4476</guid><description><![CDATA[Nasty market, exceedingly choppy and volatile.EUR/USD sits at 1.3355 presently, hardly changed from around 1.3365 when I first sat down this morning.&nbsp; Inbetween it&rsquo;s been bedlam.&nbsp;First a sell-off into 1.33 teens, the single currency unnerved by report in La Tribune that S&amp;P may be about to give France a negative outlook.&nbsp; Real money and Russia notable&nbsp;sellers.Major Canadian&nbsp;commerical bank then entered the market as notable buyer and the EUR/USD crept back up to the 1.3330/40 area.&nbsp; All calm for awhile before wham bang we spiked higher as rumours circulated of a &ldquo;good&rdquo; Italian auction.&rdquo; Good in terms of the fact they raised a hefty 7.5 bln, although the prices paid&nbsp; disturbingly highWe spiked quickly above 1.3400, tripping stops through 1.3400 and 1.3415 reaching session high 1.3442.&nbsp;&nbsp; That&rsquo;s where hedge funds entered the market and clumped the pairing back lower.&nbsp;&nbsp;Trailing sell stops in the 1.3365/70 area were duly tripped accelerating the reversal.&nbsp;Among reasons for sharp sell off; ECB failing to drain full amount in its weekly term deposit facility (raising doubts about the banks&rsquo; ability to continue sterilizing sovereign bond purchases), comments from German FinMin regarding ECB&rsquo;s role and news American Airlines has filed for bankkruptcy (risk off reaction)All in all, a session not for the faint-hearted.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4476</link><pubDate>2011-11-29 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Risk trades rally again in Asia ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4474</guid><description><![CDATA[Risk definitely on this morning; European stocks, oil, gold, US treasury yields all up.&nbsp; Yada, yada, yada, you know the gig.&nbsp; Why the sudden surge of optimism, buggered if I know.EUR/USD up at 1.3365 from early 1.3290, having been as high as 1.3398.&nbsp; Leveraged names seen strong buyers early. One source also mentioned good buying coming from Chinese corporates, apparently related to month end demand.&nbsp; Source expected it to continue for next couple of sessions into month end.Despite risk on backdrop and higher US treasury yields, USD/JPY has struggled to build on recent gains.&nbsp; Up a mere 10 pips from when I got in, presently at 77.70.&nbsp; Japanese exporter selling said to be on top.Cable up at 1.5560 from early 1.5505 in what has been choppy trade with a 1.5456-1.5593 range traded.&nbsp; EUR/GBP up marginally at .8587 from early .8570, having been as high as .8608 at one stage.&nbsp; There were mutterings of the usual&nbsp; central bank &nbsp;month end demand going through, but we can&rsquo;t confirm such.AUD/USD has made the most of the risk on environment, up at .9925 from early .9845, having been as high as .9954.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4474</link><pubDate>2011-11-29 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Rumour, denial, rumour, denial. But risk still on ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4473</guid><description><![CDATA[Risk definitely on this morning; European stocks, oil, gold, US treasury yields all up.&nbsp; Yada, yada, yada, you know the gig.&nbsp; Why the sudden surge of optimism, buggered if I know.EUR/USD up at 1.3365 from early 1.3290, having been as high as 1.3398.&nbsp; Leveraged names seen strong buyers early. One source also mentioned good buying coming from Chinese corporates, apparently related to month end demand.&nbsp; Source expected it to continue for next couple of sessions into month end.Despite risk on backdrop and higher US treasury yields, USD/JPY has struggled to build on recent gains.&nbsp; Up a mere 10 pips from when I got in, presently at 77.70.&nbsp; Japanese exporter selling said to be on top.Cable up at 1.5560 from early 1.5505 in what has been choppy trade with a 1.5456-1.5593 range traded.&nbsp; EUR/GBP up marginally at .8587 from early .8570, having been as high as .8608 at one stage.&nbsp; There were mutterings of the usual&nbsp; central bank &nbsp;month end demand going through, but we can&rsquo;t confirm such.AUD/USD has made the most of the risk on environment, up at .9925 from early .9845, having been as high as .9954.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4473</link><pubDate>2011-11-28 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Risk revival in Asia ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4472</guid><description><![CDATA[Relatively busy session in Asia with risk returning to the markets, primarily as a result of the strong retail sales activity in the US last Friday, but the IMF-Italian loan story also helped kick things off.EUR/USD opened higher in Asia on the back of a since-denied story linking the IMF to a loan to Italy, worth EUR600 billion. The story seemed to start online and gain credibility without ever being sourced, and even the denial has been hard to find. EUR/USD traded to 1.3325 in early interbank trade, fell to 1.3290 when the retail market joined in, was dragged higher again as a rampant AUD/USD surged higher, but fell back below 1.3300 on the IMF denial. Ranges: 1.3274/1.3334AUD/USD gave a sign of things to come on Friday when it failed to fall despite a much weaker EUR/USD and this proved to be a portent of strength to come as the pair opened 100 pips above it&rsquo;s .9700 closing level and hasn&rsquo;t really been able to get back below .9800. The early high was at .9830, it fell back to .9800, rallied to .9888 and then fell swiftly to .9825 on the IMF denial. Overall range: .9787/.9888USD/JPY has been at the mercy of EUR/JPY which has been capped by strong sell orders at 103.50. Stops are eyed in the cross above this level and real money players continue to sell the Yen. Ranges: EUR/JPY 103.03/50; USD/JPY 77.42/71Cable has been supported by buy orders near 1.5450 and by expected demand ahead of the MSCI semi-annual review. Ranges: 1.5464/1.5525; .8570/.8605USD/CHF .9253/97]]></description><link>http://fastbrokers.com/commentary/view.php?id=4472</link><pubDate>2011-11-28 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: All was calm, then the proverbial hit the fan in a big way ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4471</guid><description><![CDATA[A becalmed morning burst into life as result of a really crappy 10 year bund auction hit the wires.&nbsp;Dreadful euro zone industrial new&nbsp;orders data and a very sobering Greek central bank monetary policy report released around the same time helped add to the downside momentum, but it was the bund auction which was by far the most damaging.From around 1.3445/50 at time of result hitting wires we&rsquo;ve been as low as 1.3373 so far.&nbsp; We did manage a brief&nbsp;rally back just above 1.3400 but it hasn&rsquo;t been sustained and we&rsquo;re back down around 1.3380 at writing.Cable down at 1.5570 from early 1.5610 having been as low as 1.5552.&nbsp;Reports of buy orders clustered down at 1.5525/45.&nbsp;AUD/USD down at .9730 from early .9765,&nbsp; aussie underminned by the general risk off environment.European stocks, oil, gold all lower.Happy Thanksgiving &nbsp;y&rsquo;all&hellip;&hellip;&hellip;&hellip;.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4471</link><pubDate>2011-11-23 00:00:00 -08:00</pubDate></item><item><title>The two major stories in Asia were firstly the Dexia reports and secondly the China flash PMI, both of which had a negative effect on risk sentiment. ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4470</guid><description><![CDATA[The two major stories in Asia were firstly the Dexia reports and secondly the China flash PMI, both of which had a negative effect on risk sentiment.EUR/USD closed in NY around 1.3520 but when news outlets started quoting a Belgian newspaper article, which suggested that Belgium wants to re-negotiate the Dexia bail-out, the EUR fell quite swiftly. The article doesn&rsquo;t quote any sources and does in fact contain a denial from one Belgian source, but the market ran with it anyway. The session low was 1.3450 but bounces have been rather anaemic since the low, suggesting that early Europe might have another look and see what&rsquo;s at 1.3420.AUD/USD was the other main mover, obviously impacted by risk sentiment and the China data. It opened in Asia near .9850 and fell by over 100 pips before steadying. Initially stops were triggered below .9800 on the Dexia reports, and then fresh lows were posted near .9750 after the China PMI. Range: .9751/.9855Cable lagged the EUR moves but followed its lead, trading 1.5598/1.5654.USD/JPY was quiet with Tokyo closed, trading 76.90/77.04. USD/CHF range .9123/65.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4470</link><pubDate>2011-11-23 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Quiet session but market remains nervous ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4469</guid><description><![CDATA[Fairly quiet again in Asia and unusually it was USD/JPY which caused some excitement. The JPY crosses did edge higher in early trade and then there was some confusion after the Azumi comments, which some took to meaning that more intervention was imminent. USD/JPY spiked to 77.33 before settling back down again once his comments were read closely. The low on the day was 76.84.EUR/USD got a lift from early EUR/JPY buying but was unable to sustain gains above 1.3500 and has slipped lower in afternoon trade. Range 1.3468/1.3508.AUD/USD stalled again near .9825 but bounces have been limited and Cable also stalled at technical support, the overnight low at 1.5615.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4469</link><pubDate>2011-11-22 00:00:00 -08:00</pubDate></item><item><title>European Wrap: Risk off in quiet sluggish trading ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4468</guid><description><![CDATA[A soggy start for the EUR/USD with&nbsp; risk sentiment off from the European open as equities fell and perpipheral spreads widened. Middle Eastern, macro&nbsp;and model account&nbsp;selling from 1.3500 tripped stops down through 1.3480, through&nbsp;&nbsp; technical support around 1.3440 to 1.3435&nbsp;and bounces have been shallow since.GBP/USD was&nbsp;slapped down from &nbsp;1.5767 by real money selling, despite some&nbsp;bids on the way down from algo accounts and a US Inv house.&nbsp; Bids then resurfaced towards the 1.5687 low. Sell stops placed on a break of 1.5680 were later tripped on heavy sales from a UK clearer to a low of 1.5645.AUD/USD tracked EUR/USD down from 0.9977 filling corporate bids 0.9925/30 and broke tech support at 0.9910, flushing out a reported barrier at 0.9900 and some stops to lows of 0.9882.&nbsp; Some reasonable bids are placed down at 0.9865/70USD/JPY was a non-event&nbsp; between 76.77 and 77.95, EUR/JPY shadowing the EUR/USD to lows of 103.23 from&nbsp; session highs of 103.88European bourses were all off around 2-2.5 %, with Jan Nymex Crude&nbsp;&nbsp;off around $1.5 and Gold down to around $25 an ounce to lows of&nbsp; 1701.50]]></description><link>http://fastbrokers.com/commentary/view.php?id=4468</link><pubDate>2011-11-21 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: EUR up, AUD and GBP down ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4467</guid><description><![CDATA[Most of the action today has been in the crosses, with the EUR making decent gains against the GBP, AUD and CAD.EUR/USD closed in NY just above 1.3500 and opened at the same level after a drama-free weekend. We have seen a very quiet 35 pip range between 1.3502/37 in the main pair with all of the action happening in the crosses. EUR gained over 0.5% against the AUD, CAD and GBP.AUD/USD traded quietly around parity until the S&amp;P futures opened 1% lower and this set off some mild risk averse trading. EUR/AUD buying was to the fore and dealers targeted and triggered stops below .9960. News that the mining tax was set to pass and that Qantas talks had broken down also weighed on the Aussie. Ranges: .9944/1.0014GBP has also underperformed with two bad sets of economic data from the retail shopping sector and also on the home price front. EUR/GBP opened at .8550 but has moved steadily higher through the session, closing near its session highs at .8893. Cable traded 1.5736/96.USD/JPY traded another very quiet 19 pip range between 76.72/91 despite the raft of economic data and the BOJ minutes.USD/CHF range .9163/82.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4467</link><pubDate>2011-11-21 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Good morning for euro ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4466</guid><description><![CDATA[Good morning for the euro. EUR/USD up at 1.3595 from early 1.3480, having been to 1.3600.&nbsp; Middle Eastern names seen buying early and as periphery/German govt bond yield spreads&nbsp;narrowed so EUR/USD crept higher.Talk was of decent sell orders lined up at 1.3550/60 and we quickly topped out at 1.3550 as talk of China selling circulated.&nbsp; We were&nbsp;already headed back up though,&nbsp;when rumour of RHS&nbsp; interest (to buy) lined up for 16:00 GMT fix later today did the rounds.Things really livened up when buy stops through 1.3560 were tripped and we&nbsp;spiked higher as Dow Jones reported ECB lending to IMF proposal gaining traction (see above)Early Middle Eastern buyers seen booking some well-earned profits up around 1.3600.USD/JPY down at 76.60 from early 76.90.&nbsp; Talk of 76.50 barrier option interest. Stops seen either through 76.50 or 76.45 (take your pick, slightly conflicting reports, but what&rsquo;s 5 pips between friends)EUR/JPY up at 104.15 from early 103.60.Cable up at 1.5860 from early 1.5765.&nbsp; EUR/GBP cross up at .8570 from early .8545 as euro sees across the board strength.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4466</link><pubDate>2011-11-18 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Choppy consolidation the order of the day ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4465</guid><description><![CDATA[Fairly quiet session with the majors chopping around in 50 pip ranges.EUR/USD opened near 1.3460 and traded quietly until the Asian open when lower equities encouraged some risk off selling. Bids below 1.3450 proved too strong and the pair rallied on pre-weekend short-covering as the session progressed.AUD/USD followed a similar pattern to the EUR, opening at .9995, falling to .9968 in early trade before rallying strongly to 1.0040 on short-covering in thin markets. Solid offers above 1.0030 helped repel the buyers.The other majors traded quietly with USD?JPY again doing nothing.Have a great weekend all and see you early Monday morning when I&rsquo;m sure it&rsquo;ll be busier than now.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4465</link><pubDate>2011-11-18 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Relatively quiet in forexland ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4464</guid><description><![CDATA[EUR/USD down at 1.3485 from early 1.3505, having been as low as 1.3437 at one stage.&nbsp; Euro zone &nbsp;debt jitters continue unabated, the ECB&nbsp; seen buying Italian and Spanish bonds aggressively this morning.EUR/USD slipped early, but reports of China on the bid down around 1.3450 lent decent support. That&rsquo;s until the Spanish auction results, the high yield (see above) spooking the market.We got to the low&nbsp;1.3437 before steadying&nbsp;(helped by more reports of China buy interest &nbsp;lined up down around 1.3430 and aggressive buying of Italian and Spanish bonds by the ECB)Barrier option interest now&nbsp;noted down at 1.3400.USD/CHF touch firmer at .9200 from early .9185. EUR/CHF little changed at 1.2405.&nbsp; Rumours Swiss National Bank in asking EUR/CHF and GBP/CHF forward levels will have helped support the cross.USD/JPY effectively unchanged at 76.90.&nbsp; Sell stops seen through 76.80 and more through 76.50 ( barrier option interest&nbsp; reported at latter level)&nbsp; Buy stops seen through 77.20 and more through 77.50.Cable also effectively unchanged at 1.5760.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4464</link><pubDate>2011-11-17 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Early sell-off reverses in late trade; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4463</guid><description><![CDATA[Fairly quiet session in Asia apart from the usual stop-loss hunting in early thin conditions.Stops in the AUD/USD below 1.0050 were the early target and they were triggered as early Asian stockmarkets fell. Corporate bids near 1.0025 were quite significant and they helped stall the fall. The subsequent short-covering bounce has taken the AUD/USD almost 100 pips higher. Ranges: 1.0017/1.0110EUR/USD took aim at a small barrier at 1.3425 and this was breached although the follow through was small as solid bids were waiting near 1.3400-10. Short covering in the afternoon producede new session highs but interest was overall very low. Ranges: 1.3420/93USD/JPY traded a paltry 14 pips, with BOJ bids rumoured just below the market but large stops also reported below 76.70 and 76.60.Cable 1.5689/1.5744; USD/CHF .9125/.9228]]></description><link>http://fastbrokers.com/commentary/view.php?id=4463</link><pubDate>2011-11-17 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Busy morning, choppy trade ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4462</guid><description><![CDATA[Active morning.&nbsp; EUR/USD marginally firmer at 1.3480 from early 1.3445.&nbsp; Inbetween though&nbsp;we&rsquo;ve been as low as 1.3429 and as high as 1.3558 in choppy trade.News that Moody&rsquo;s is reviewing Unicredit for possible downgrade put the single currency under some early pressure.&nbsp; But as European stocks rallied and periphery/German bond spreads narrowed, so EUR/USD mounted a strong rally.Middle Eastern buying (shock horror) &nbsp;was notable in the early stages of the rally. Sell&nbsp;orders noted up at 1.3490/00 &nbsp;proved sticky for awhile, but eventually trailing buy stops were tripped through 1.3500 and we quickly reached 1.3558.Real money entered the fray as notable sellers above 1.3540 and we were soon headed lower again.&nbsp; Reports Unicredit CEO is in talks with ECB certainly didn&rsquo;t help matters. Model funds also notable sellers on the way back down.Talk of barrier option interest lined up down at 1.3425 and 1.3400, sell stops below there.Cable touch firmer at 1.5675 from early 1.5760.&nbsp; Ongoing Middle Eastern sovereign buying has been a notable feature today.&nbsp;&nbsp;EUR/GBP up at .8543 from early .8528, having been as high as .8584 at one stage.&nbsp; UK clearer with strong Asian ties decent buyer of the cross this morning.USD/JPY effectively unchanged at 76.93.USD/CAD slightly lower at 1.0255 from early 1.0280.&nbsp; Much talk of 1.0300 barrier option interest in place.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4462</link><pubDate>2011-11-16 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: BoJ leaves policy unchanged ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4461</guid><description><![CDATA[Another risk off session in Asia with some heavy flows, particularly in the EUR/USD near 1.3475/80. USD/Asia was well bid after the higher USD/CNY fix and this sentiment carried over into the majors.EUR/USD saw a low in NY near 1.3480, with barrier protection ahead of 1.3475 helping to form a short-term base. Early Asian markets traded around 1.3540 before risk aversion started to grow after stockmarkets headed south. There were also some spurious rumours re downgrades doing the rounds which no doubt added to the risk-off sentiment. Hedge fund bids and barrier protection at 1.3475/80 was wiped out by stop-loss selling and momentum funds adding to existing positions on the bearish break.&nbsp;Another barrier at 1.3450 was broken and the&nbsp;low was 1.3435, with more barriers reported at 1.3425 and 1.3400. The high since the low has been at 1.3465, so bounces are anaemic. Range: 1.3435/1.3540AUD/USD also encountered some heavy selling as risk aversion grew. It fell by over 1% but failed to test reported bids at 1.0060. The general selling in all Asian currencies added to the bearish sentiment. Ranges: 1.0068/1.0181USD/JPY didn&rsquo;t react at all to the BoJ decision, trading a very tight 76.98/77.14 range.Cable 1.5755/1.5827; USD/CHF .9145/.9207]]></description><link>http://fastbrokers.com/commentary/view.php?id=4461</link><pubDate>2011-11-16 00:00:00 -08:00</pubDate></item><item><title>European Wrap: Risk off on peripheral spread widening, weak data and poor Spanish auctions ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4460</guid><description><![CDATA[EUR/USD&nbsp; was under the cosh from the start of the European session , with any rally throttled by strong offers from real money and a sovereign towards 1.3620.&nbsp; Spain&rsquo;s auction disappointed adding further pressure on the euro.Widening peripheral bonds spreads and heavy sales from leveraged names kept the downward pressure on, despite some strong earlier bids from&nbsp; the Middle east around 1.3575/80. |These eventually&nbsp;caved in with stops through 1.3570 and 1.3550 tripped, (despite ECB buying Italian bonds), to lows of 1.3516.GBP/USD&nbsp;survived most of the early EUR/USD fall, as&nbsp; EUR/GBP was sold heavily; cable popping up to&nbsp; 1.5931 on some&nbsp; Middle east and Russian buying.This was soon reversed with a sharp sell off ahead of the UK CPI data which disappointed (as expected). A muted reaction on the release due to the market pre-empting the weaker data&nbsp;caught traders short, with an Asian sovereign buying off the lows of&nbsp; 1.5828&nbsp;sparking a&nbsp;reasonable bounce back into the 1.5860&prime;s&nbsp;. Offers sit at 1.5870.EUR/CHF and USD/CHF&nbsp; both picked up on comments from SNB&rsquo;s Jordan and a UBS suggestion that the EUR/CHF cap should be raised,&nbsp;&nbsp;leading &nbsp;a bounce from&nbsp; 1.2388 to 1.2488, and the USD from 0.9109 to 0.9178. Swiss names were the main buyers behind the move.USD/JPY still flirts around 77.00 in a 76.92-77.11 spread, with the cloud base at 76.90 currently lending some support, but offers sitting from 77.10/15 choking any rally. Comments from Japan&rsquo;s Noda and Azumi were dutifully ignored.AUD/USD fell with the EUR/USD despite some leveraged buying, hitting stops at 1.0150 to 1.0127 from 1.0202 highs earlierGold and oil both slipped with equities; Gold off about $12 from&nbsp; 1772, and Nymex WTI easing from 98.24 to 97.55European mainland bourses were all in the red, down between 1.5-2% with the FTSE down around&nbsp; 1%]]></description><link>http://fastbrokers.com/commentary/view.php?id=4460</link><pubDate>2011-11-15 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Quiet session after early EUR rally; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4459</guid><description><![CDATA[EUR/USD gapped higher in early interbank trade to a high of 1.3814 as the market reacted to the change in Italian leadership. These gains couldn&rsquo;t be maintained as the fact remains that nothing much has changed except the leader&rsquo;s name. Sell orders at 1.3820/25 also stalled bullish momentum. The market fell back to close the gap to the NY closing level at 1.3755 but has been unable to break below there. Ranges: 1.3752/1.3814AUD/USD followed the EUR/USD lead and will end the session back near the lows. There were no major announcements or flows and range trading still dominates. Ranges: 1.0288/1.0350USD/JPY is supported by strong bids at 77.00, rumoured to be BOJ, but interest was very muted in a 77.08/27 range.Cable 1.6050/90, USD/CHF .8977/.9013]]></description><link>http://fastbrokers.com/commentary/view.php?id=4459</link><pubDate>2011-11-14 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Quiet session after early EUR rally; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4458</guid><description><![CDATA[EUR/USD gapped higher in early interbank trade to a high of 1.3814 as the market reacted to the change in Italian leadership. These gains couldn&rsquo;t be maintained as the fact remains that nothing much has changed except the leader&rsquo;s name. Sell orders at 1.3820/25 also stalled bullish momentum. The market fell back to close the gap to the NY closing level at 1.3755 but has been unable to break below there. Ranges: 1.3752/1.3814AUD/USD followed the EUR/USD lead and will end the session back near the lows. There were no major announcements or flows and range trading still dominates. Ranges: 1.0288/1.0350USD/JPY is supported by strong bids at 77.00, rumoured to be BOJ, but interest was very muted in a 77.08/27 range.Cable 1.6050/90, USD/CHF .8977/.9013]]></description><link>http://fastbrokers.com/commentary/view.php?id=4458</link><pubDate>2011-11-14 00:00:00 -08:00</pubDate></item><item><title>European Wrap: Risk off then back to neutral as Europe awaits a Greek decision and Italian BTP's recoup earlier losses ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4457</guid><description><![CDATA[A messy morning with EUR/USD opening in London around 1.3505/10, then a stop loss run down through 1.3500 to 1.3484., as BTP&rsquo;s were caned.Leveraged buyers then hooked up with Asian sovereign, Middle eastern and exporter buying as ECB&nbsp;returned to the peripheral bond market,&nbsp;taking EUR/USD &nbsp;up through buy stops at 1.3560/70.Optimism that Greece was near to appointing a new PM (possibly Papademos) kept the EUR firm.Weak Italian IP data then led a slip back to 1.3555 before&nbsp;idle talk of an ECB announcement&nbsp; at noon, sparked a fresh rally&nbsp;which&nbsp; took out stops at 1.3620 to a day&rsquo;s high of 1.3630.Offers are upstairs at 1.3650 with buy stops up through 1.3660.EUR/GBP jumped from early lows of 0.8486 to 0.8557 on exporter buying and EUR/USD short covering before easing back to 0.8530. Cable was playing second fiddle to all the moves in a 1.5891-40 trading range.USD/JPY was rangebound&nbsp; in 77.59-75, with EUR/JPY dictated by the EUR/USD through 104.73 and 105.88.EUR/CHF slipped from 1.2342 to 1.2294 with a large digital option strike rolling off today at 1.2300. Tech support seen at the 200 day MA at 1.2277AUD/USD was slapped lower by real money sellers from around 1.1030&nbsp;to a low of 1.0052, falling just short of some large stops at 1.0050. It later bounced with the EUR/USD but lagged&nbsp;the move as EUR/AUD leapt higher fom 1.3370 to &nbsp;1.3437.&nbsp; AUD/USD topped out&nbsp;just ahead of the Asian highs,&nbsp;at 1.0163 before heading lower.Gold was steady in a 1754-72 range, with Dec WTI Nymex Crude up from 95.20 to 97.08&nbsp;as stocks recoveredEuropean indices all bounced back from early falls of around 1-1.5% to&nbsp;flattish on the session.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4457</link><pubDate>2011-11-10 00:00:00 -08:00</pubDate></item><item><title>European Wrap: Italian concerns leads EUR/USD down, but Berlusconi resignation talk leads the bounce. ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4456</guid><description><![CDATA[Focus this morning now switching to the plight of Italy with model and leverage accounts opening the session with persistent&nbsp; EUR/USD selling from 1.3775.Equity markets were hit across Europe, and Italian bond spreads widened to record levels amid concerns&nbsp; over the&nbsp; parliamentary budget vote and Berlusconi&rsquo;s thinning majority.EUR/USD fell to 1.3697 before SMP buying of Italian and Spanish debt , together with reports of the BIS buying&nbsp; led a brief bounce to 1.3733. Weak EU&nbsp;retail sales then prompted another sell off to 1.3682, before, equity pared back losses and&nbsp; we got back up to 1.3730. Sell stops are now in place on a break down through 1.3680.A late morning headline on Bloomberg that Berlusconi&nbsp; might resign then &nbsp;forced a sharp spike up again into the 1.3770&prime;sCable fell back with the soggy euro, despite strong Halifax house price data, from 1.6022 to 1.5980, with EUR/GBP taking the brunt of the euro fall from 0.8598 to&nbsp; 0.8559.&nbsp; The Berlusconi rumour then took cable back towards 1.6050USD/JPY dozed in 78.05-19 range with EUR/JPY shadowing EUR/USD through 106.85-107.60EUR/CHF added to Asia&rsquo;s jump higher on nervous trading&nbsp; following SNB&rsquo;s Hildebrand weekend comments and weak Swiss CPI kept the swiss weakness intact with a move up to 1.2394 before some profit taking led a fall back to 1.2333. Large bids now sit at &nbsp;1.2300/10&nbsp;.USD/CHF traded up from 0.8920 to 0.9031, falling back later to 0.8955Equities reversed most of the earlier falls,&nbsp;and bond spreads tightened&nbsp; on the Berlusconi story.Nymex Crude also bounced after earlier losses to 93.21 with a recovery to&nbsp; 94.75]]></description><link>http://fastbrokers.com/commentary/view.php?id=4456</link><pubDate>2011-11-07 00:00:00 -08:00</pubDate></item><item><title>Asian Wrap: ... sell the fact ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4455</guid><description><![CDATA[The rush to hammer out a Greek deal before markets open for the week wasn&rsquo;t all it was cracked up to be. EUR/USD cheered the move at the open, sending the pair 60 pips higher to 1.3839 but the gains evaporated due to the laundry list of worries about Italy. We&rsquo;re now back to 1.3771, down slightly on the day.Cable whipsawed traders as it opened above last week&rsquo;s highs, touching 1.6076 but falling back almost immediately. The pair continued to slide until bumping into some buying interest at 1.6007.EUR/CHF was a mover, gapping 50 pips at the open and climbing another 50 pips to touch above 1.23.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4455</link><pubDate>2011-11-07 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Relatively orderly morning as market awaits US jobs data and Greek confidence vote ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4454</guid><description><![CDATA[EUR/USD up at 1.3838 from early 1.3810, having been as high as 1.3855.&nbsp;&nbsp; Hedge fund buying has been notable this morning.&nbsp;At start of play sources reported sell orders clustered 1.3845/55 and they&rsquo;ve capped the topside so far&hellip;&hellip;&hellip;just.&nbsp;&nbsp; Talk now of buy stops through both 1.3855 and 1.3860.USD/JPY unchanged on the day at 78.00.&nbsp; If it moved, then I missed it.Cable effectively unchanged at 1.6020.&nbsp; Dip to the 1.6000 area (1.5992 session low) ran into UK clearer and US custodial buying.EUR/GBP touch firmer at .8635 from early .8623, but large US commercial bank capped rally at .8650.USD/CAD up at 1.0190 from early 1.0115.&nbsp;&nbsp; Pretty grotty jobs report (see above)&nbsp;didn&rsquo;t help loonie&rsquo;s cause any.USD/CHF up at .8825 from early .8800, EUR/CHF up at 1.2215 from around 1.2150.&nbsp; Much-mentioned 1.2125 support continues to provide a durable base. Still some mutterings of a possible move by SNB to raise 1.2000 peg/floor.&nbsp; Personally not convinced meself, but hey ho.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4454</link><pubDate>2011-11-04 00:00:00 -08:00</pubDate></item><item><title>Asia-Pacific Wrap: Quiet but Cautious ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4453</guid><description><![CDATA[Asian trading was a microcosm of the US session &ndash; volatile and indecisive. EUR/USD was jumpy, climbing to a high of 1.3838 in early trading but falling short of the late NA highs. A broad risk off mood kicked in shortly after the RBA statement and we gyrated thereafter.AUD/USD similarly climbed early but was capped by the earlier highs at 1.0440 and struggled afterwards, falling as low as 1.0370. The RBA forecasts were seen as dovish but comments from Rio Tinto also weighed on AUD.Cable has managed to stay above 1.60 but just barely. The worst-performer thus far has been CAD, for no reason in particular.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4453</link><pubDate>2011-11-04 00:00:00 -08:00</pubDate></item><item><title>European Wrap: Greek madness ahead of the ECB; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4452</guid><description><![CDATA[A nervous morning ahead of the ECB rate announcement at 1245GMT.Bickering between Greek officials and an emergency meeting called by Greek PM Papandreou, has had the market on tenderhooks on whether the confidence vote will go ahead and whether the govt will indeed survive the next day or so.An announcement late in the morning from Reuters quoted Greece&rsquo;s Chief of Staff that Papandreou has not resigned&nbsp; and will not resign.Sovereign buying just ahead of 1.3650 stops stemmed the EUR/USD outflow in the wake of the Asian session, and ECB bond buying together with US investment and Middle Eastern demand led the strong rally&nbsp; to 1.3807, before some profit taking and offers from the BIS&nbsp;pushed back to 1.3770. Another push higher recently stuttered at 1.3819&nbsp; . Buy stops are now sitting up at 1.3830/35GBP/USD&nbsp; caught a lift on the back of the euro from 1.5880 to&nbsp; 1.6018 despite poor Oct services PMI data. EUR/GBP has faded a rally to 0.8642&nbsp; after lows of 0.8597 earlier in the session.USD/JPY is balancing on a cliff again with bids around 78.00&nbsp; keeping stops at 77.80 out of reach for now. Exporters offers are lowered to 78.20 and 78.50 effectively throttling the dollar .AUD/USD&nbsp; thumbed a lift with EUR/USD, heading well clear of the 55 and 50 day MA&rsquo;s&nbsp; down at 1.0255 and 1.0236&nbsp;, with some sovereign buying and a large NZD/USD buy order helping to highs of 1.0359.EUR/CHF was benign in a 1.2130-54 range , with the USD/CHF falling back from 0.8888 to&nbsp;0. 8799Nymex crude recovered with equities, from an early fall to&nbsp; 90.88&nbsp; to 92.99. Gold was relatively steady in a 1722-1739 rangeEquities are back in the positives&nbsp; with STOXX up around 1.3%, FTSE up 0.5%, CAC up 1.4%&nbsp;and DAX 1.6%]]></description><link>http://fastbrokers.com/commentary/view.php?id=4452</link><pubDate>2011-11-03 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Greek referendum set for December 4th/5th ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4451</guid><description><![CDATA[It&rsquo;s been all about Greece yet again, with EZ leaders making it clear to the Greek PM that the referendum, now to be held on December 4th or 5th, will be on continued EUR membership. The tone of the headlines were that the EZ and IMF were preparing for a No vote, and would be working on contingencies. This of course sent the EUR lower, but the AUD fell even faster as risk aversion ramped up. A withdrawal would mean a 100% default, and of course have a huge impact on European banks.EUR/USD opened just below 1.3750 but started to fall swiftly as the headlines hit the screens. Since touching an intial low near 1.3670, EUR/USD has consolidated in a 40 pip range. No sign of any Sovereign names buying but they are still anticipated on dips. EUR/CHF also provided some support as buying emerged near 1.2125 in the cross. Ranges: 1.3663/1.3754; EUR/CHF 1.2126/50AUD/USD fell hard as risk aversion ramped up and momentum funds joined in the selling once the pair broke below 1.0280. Options players were also notable sellers as the market bought cover ahead of a potential 4 turbulent weeks. Small Sovereign bids and profit-taking orders near 1.0200 provided the base. Ranges: 1.0203/1.0346;USD/JPY was quiet with Tokyo on holiday but the market still reports that the BOJ are present in the market, buying smaller amounts on dips. Range: 78.00/15Cable 1.5875/1.5955; USD/CHF .8830/78]]></description><link>http://fastbrokers.com/commentary/view.php?id=4451</link><pubDate>2011-11-03 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Decent morning for the euro: ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4450</guid><description><![CDATA[Single currency has made across the board gains this morning, albeit not huge.EUR/USD up at 1.3770 from early 1.3715, having been as high as 1.3802 after buy stops tripped through 1.3780.The pairing rallied early as it&nbsp;became clear European stocks were going to open higher.&nbsp;&nbsp;We then got embroiled in a period of choppy trade with no clear direction.&nbsp; Then all of a sudden we spiked higher as a spurious rumour circulated (well I think it&rsquo;s bloody spurious) that China is preparing to aid the EFSF to the tune of 700 bln!!.&nbsp;Stops were tripped through 1.3780 amid reports of decent Middle Eastern and European real money &nbsp;buying and we got to 1.3802 before topping out.&nbsp;An Asian sovereign notable seller&nbsp;around the highs.EUR/JPY up at 107.40 from early 107.15.USD/JPY still in hibernation after it&rsquo;s fun day Monday.&nbsp; Sits at 78.00, hardly changed on the day.AUD/USD very marginally firmer at 1.0370 from early 1.0355, but way off session highs of 1.0427.&nbsp;&nbsp; Persistent real money selling above 1.0400 very notable feature this morning.Cable marginally firmer at 1.6005 from early 1.5980.&nbsp; EUR/GBP up marginally at .8600 from early .8580, in line with the firm euro trend.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4450</link><pubDate>2011-11-02 00:00:00 -08:00</pubDate></item><item><title> Asian market wrap: ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4449</guid><description><![CDATA[Risk aversion in the morning session as uncertainty surrounded the proposed Greek referendum and ongoing headlines regarding MF Global. This sentiment has eased as the session progressed and mosr pairs will finish the session unchangeds.EUR/USD fell to a session low of 1.3635 in morning trade but this move was mainly driven by intraday players jumping on the risk-off sentiment. No major flows have been reported in today&rsquo;s 100 pip range, 1.3635/1.3731.AUD/USD followed very similar lines to the EUR/USD and was also affected briefly by worse than expected building approvals. Range: 1.0276/1.0367No sign of the BOJ today although there are rumours that they are sitting below 78.00. Today&rsquo;s range 78.07/41Cable 1.5915/84; USD/CHF .8846/99]]></description><link>http://fastbrokers.com/commentary/view.php?id=4449</link><pubDate>2011-11-02 00:00:00 -08:00</pubDate></item><item><title>European morning Wrap: Another morning of mayhem ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4448</guid><description><![CDATA[Risk most definitely off this morning, sharp losses for European stocks, oil,&nbsp; US treasury yields etc etc.&nbsp; You know the story by now.&nbsp; Personally I blame it all on the Greeks and their bloody referendum. Well maybe most, if not all.EUR/USD down at 1.3690 from early 1.3815, having been as low as 1.3670 so far.&nbsp; The selling started right from the get go as European traders arrived at their desks.&nbsp; We had a few slight pauses on the way down, but nothing overly major as European stocks cratered.&nbsp; Just glad I don&rsquo;t own any European bank shares.BIS and other sovereigns have&nbsp;turned up buying below 1.3700 and that has at least slowed the sell-off.Cable down at 1.5925 from early 1.6040.&nbsp; The pairing suffered a major hit on the release of really crappy October manufacturing PMI data (see above). We stood around 1.5995 on release and sold off quite sharply straight after.&nbsp; The fact that the UK Q3 GDP was marginally better than expected was brushed aside.USD/JPY effectively unchanged at 78.15.&nbsp; What a difference a day makes.&nbsp; No news on the BOJ front. They seem to be keeping their powder dry.AUD/USD down at 1.0300 from early 1.0440.&nbsp; Risk off innit.One slightly surprising feature of the risk off morning is the fact that EUR/CHF is marginally firmer at 1.2180 from early 1.2140.&nbsp;&nbsp; Traders note very decent &ldquo;sovereign&rdquo; buying of USD/CHF. Wish I could tell you who those sovereigns were, but I can&rsquo;t.&nbsp; Some mutterings of SNB activity, but we certainly haven&rsquo;t got confirmation of such. &nbsp;USD/CHF up at .8890 from early .8785.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4448</link><pubDate>2011-11-01 00:00:00 -08:00</pubDate></item><item><title>ForexLive Asian market wrap: RBA cuts rates by 25bps ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4447</guid><description><![CDATA[Fairly quiet session for the most part, only springing briefly to life after the RBA cut rates by 25bps.AUD/USD spent much of the session trading around 1.0540. It fell on two separate occasions, after the China PMI and after reports of money missing at MF Global, but on both occasions the support lines near 1.0500 held. This support was broken immediately after the RBA decision. Ranges: 1.0471/1.0566EUR/USD briefly breached technical support at 1.3830 but has been unable to consolidate below, that said rallies have also been shallow with EUR/JPY flows mainly to blame for any EUR selling. Ranges: EUR/USD 1.3812/71; EUR/JPY 108.09/109.19thatUSD/JPY didn&rsquo;t see anything like the volatility from yesterday. Reports suggest the BOJ has filled all its trading lines with major banks and is now busy trying to roll-over positions and replenish these trading limits. Ranges: 78.07/61Cable 1.6055/93; USD/CHF .8760/96]]></description><link>http://fastbrokers.com/commentary/view.php?id=4447</link><pubDate>2011-11-01 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: BOJ continues intervention in Europe; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4446</guid><description><![CDATA[All about USD/JPY this morning.&nbsp; BOJ has continued intervening throughout the European morning with no joy. We&rsquo;re down at 77.85 from around 79.15 when I sat down.&nbsp; Early selling ran into determined BOJ bids&nbsp;both at&nbsp;78.90 and 78.80&nbsp;and we rallied back above 79.00 to around 79.10.Then comments from Shirakawa (first headline)&nbsp;hit the wires &nbsp;and we were quickly moving lower.&nbsp; Comments from Honda CFO and ECB&rsquo;s Paramo (see above) hardly helped matters.As reports circulated that the BOJ was pulling it&rsquo;s bids in the wake of the inopportune Shirakawa comments, so we sold-off quickly.&nbsp; Eventually the BOJ reappeared at 78.00, but a lot of damage to their efforts had been inflicted.EUR/USD effectively unchanged around 1.4000.&nbsp; China has been seen buying the pairing this morning, probably helping negate renewed euro zone periphery jitters.&nbsp; ECB again seen buying Italian and Spainish govt bonds.Buy orders seen clustered 1.3950/70, stops below there.Cable up marginally at 1.6010 from early 1.5980.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4446</link><pubDate>2011-10-31 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Massive BOJ intervention in USD/JPY ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4445</guid><description><![CDATA[It&rsquo;s been all about USD/JPY today. Option barriers at 75.50 and stops just below were triggered in early interbank trade taking the pair to a record low at 75.31. Then the BOJ started buying mid-morning, driving the pair from 75.70 to 77.00 immediately, and then accelerating again before it ran into the first batch of heavy selling near 78.60. The rally reached 78.98 but when the BOJ first-phase stopped, USD/JPY fell straight back to 77.75. Phase II kicked in around 78.30, taking the pair to 79.50 almost. Since then, the BOJ has been parked on the bid at 79.20, buying 10s of billions of USD in the process. There has been a quite unbelievable 5 pip range for the last 90 minutes. Ranges: 75.31/79.46, EUR/JPY 106.70/111.52EUR/USD has fallen as thye USD caught a broad bullish tone from the intervention. It stalled initially near 1.4100 but when stops were triggered below 1.4070, the fall gathered pace. Bids near 1.4030 stalled for a lengthy period but the bears are back in control as the session draws to a close. Ranges: 1.4005/1.4169The AUD lost ground against the Europeans as well as against the USD. Asian currencies in general fell heavily across the board. Ranges: 1.0519/1.0709Cable 1.5965/1.6133; USD/CHF .8607/.8728]]></description><link>http://fastbrokers.com/commentary/view.php?id=4445</link><pubDate>2011-10-31 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Calm after the storm ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4444</guid><description><![CDATA[Not much one can say after this morning&rsquo;s non-event.&nbsp; Forex market seemingly in consolidation mode after yesterdays&rsquo; fireworks.EUR/USD down marginally at 1.4150 from early 1.4170, having been as low 1.4140 as European stocks gave up early gains.&nbsp; Talk of buy orders now clustered down at 1.4100/20, sell stops below there.Sell orders clustered 1.4195/00, 1.4215/25 and 1.4250/60, buy stops above there.USD/JPY effectively unchanged at 75.85.&nbsp; Buy orders seen clustered 75.65 down to 75.50 where barrier option interest is touted.&nbsp; Sell stops seen through 75.40 before more barriers at 75.25 and 75.00. Sell orders seen clusteed up at 76.00/10.Cable up at 1.6095 from early 1.6075.&nbsp; Talk of buy orders now&nbsp;clustered 1.6085/95 and more down at 1.6040/55.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4444</link><pubDate>2011-10-28 00:00:00 -08:00</pubDate></item><item><title>ForexLive Asian market wrap: Consolidation after big moves overnight ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4443</guid><description><![CDATA[Pretty quiet session in Asia after some big moves overnight. Profit taking out of Tokyo in the JPY crosses and some moderate corporate selling in the AUD/USD have been the only flows of note.AUD/USD opened in Asia above 1.0700 and spent the morning trading in a quiet 20 pip range. Once Tokyo opened, the downward pressure increased slightly and reports of trouble inside the MF Global group increased risk-off sentiment and therefore encouraged AUD selling. Ranges: 1.0651/1.0719EUR/USD has had a surprisingly tight 40 pip range after the massive volatility of the previous 24 hours. Most EZ leaders are probably exhausted after their long negotiations and we heard no comments or statements. Ranges: 1.4158/1.4200EUR/GBP opened above imporatnt resistance at .8800 and this along with the poor UK consumer confidence data gave the pound a bearish tone, although once again the ranges were very tight.USD/JPY traded 75.79/99 and USD/CHF .8593/.8619]]></description><link>http://fastbrokers.com/commentary/view.php?id=4443</link><pubDate>2011-10-28 00:00:00 -08:00</pubDate></item><item><title>Risk on generally, but eerily quiet in forexland; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4442</guid><description><![CDATA[European stocks, oil, US treasury yields all firmer&nbsp;against the risk-on backdrop. But when all said and done it&rsquo;s been pretty quiet on the forex front (AUD/USD and NZD/USD I guess exceptions)EUR/USD up at 1.4025 from early 1.3985, having been as high as 1.4037.&nbsp; Well-documented barrier option interest at 1.4000 was taken out early. Stops just above there and through 1.4020 duly tripped and we got to 1.4037.&nbsp; BIS and real money names notable sellers above 1.4000 and they have&nbsp;helped cap things for the time being.Next barrier option interest up at 1.4050.Cable pretty much unchanged at 1.6005.&nbsp; As we&rsquo;ve mentioned past two days, sell orders layered from 1.6020 thru 1.6060 and they&rsquo;re proving sticky for the cable bulls.&nbsp; The latest rally got as high as 1.6034 before floundering (1.6035 is the 100 dma)USD/JPY down at 75.80 from early 76.00, the latest BOJ easing measures&nbsp;having done nothing to weaken the yen.&nbsp; Talk of fairly-decent buy orders down at 75.70/75 and they&rsquo;re lending tenuous support so far.AUD/USD as mentioned above has seen decent gains, up at 1.0625 from early 1.0500, aussie major beneficiary of risk on backdrop.&nbsp; Decent sell orders noted lying in wait up at 1.0660/70.USD/CHF down at .8735 from early .8775.&nbsp; EUR/CHF marginally easier at 1.2255 from early 1.2280, failing to benefit from risk-on backdrop.&nbsp; Much talk of barrier option interest in the cross up at 1.2300.&nbsp; Probably helps explain things a little.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4442</link><pubDate>2011-10-27 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: EU summit finally delivers; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4441</guid><description><![CDATA[EUR higher and risk on was the outcome after the EU summit worked really late into the European night to finally come up with a working framework. Some work yet to be done but the signs are good and the market has taken all developments as a step in the right direction.EUR/USD spent the majority of the morning session trading below 1.3900 with the market unsure how to take the lack of developments as midnight approached in Europe. Reports that the banks were playing hardball on the haircut increased bearish sentiment. It was somewhat of a surprise that an announcement should be made at about 3am European time. EUR/USD immediately triggered stops above 1.3925, settled between 1.3940/60, and then accelerated again only to pull up ahead of barrier protection at 1.4000. Pullbacks have been limited to 1.3940 so far. Range: 1.3863/1.3993AUD/USD also benefitted from the improved risk sentiment and it followed the EUR/USD almost to the letter, also pulling up ahead of presumed barriers at 1.0500. Ranges: 1.0380/1.0490USD/JPY 75.96/76.28; Cable 1.5952/1.6034; USD/CHF .8758/.8824]]></description><link>http://fastbrokers.com/commentary/view.php?id=4441</link><pubDate>2011-10-27 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Waiting for Godot.... ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4440</guid><description><![CDATA[Waiting for Godot&hellip;..or rather the EU summit.&nbsp; Not too much going on when all said and done.EUR/USD up at 1.3930 from early 1.3915, having been as high as 1.3952.&nbsp; Middle Eastern buying again helped lift the pairing early, but it wasn&rsquo;t sustained.&nbsp; Sell orders up at 1.3950/60&nbsp;have been well-documented in recent sessions and they help the topside beautifully (well not if you were a euro bull I guess)Russia was a seller around the highs and more noticeably a certain US investment bank.&nbsp; Stops remain through 1.3960. Barrier option&nbsp;interest at 1.4000.Cable down at 1.5990 from early 1.6035. Yesterday we reported sell orders layered from 1.6020 up to 1.6060 and they&rsquo;ve proven sticky for the cable bulls, the recent rally fizzling out around 1.6040. UK clearer with strong far eastern associations noticeable seller of the pairing this morning.USD/JPY little changed on day at 75.90, recovering from swoon which saw new historic low of 75.72 posted.&nbsp; Talk of Kampo lined up on the bid at 75.70 will have lent some tenuous support.USD/CHF down at .8740 from early .8780, the major Swiss commercial bank notable seller in early trade. EUR/CHF cross down at 1.2178 from early 1.2221, having been as low as 1.2155 as sell stops tripped just below 1.2200 barrier interest.Little timetable for&nbsp;EU events:15:15 GMT-15:45 GMT:&nbsp; Arrival of members of the European Council16:00 GMT-17:00 GMT:&nbsp;&nbsp;27 EU&nbsp; heads&nbsp;of state meet17:15 GMT:&nbsp; 17&nbsp;leaders&nbsp;of euro-zone countries meet]]></description><link>http://fastbrokers.com/commentary/view.php?id=4440</link><pubDate>2011-10-26 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: AUD slides after low CPI number ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4439</guid><description><![CDATA[The only volatility has been seen in the AUD, with the other majors trading in 40 pip ranges.AUD/USD spent much of the morning session trading around 1.0425 but it fell heavily after the much lower inflation figure made a 25 bps rate cut on Tuesday a virtual certainty (barring any major EZ debt turmoil). AUD/USD fell to 1.0365 and then consolidated for a few hours in a 20 pip range 1.0365/85, before breaking lower again. The AUD was also sold quite aggressively on the crosses, with EUR/AUD getting the most mentions. Ranges: 1.0351/1.0436EUR/USD remains in a holding mood ahead of any EFSF announcements. ACBs and Middle East Sovereigns are still in dip-buying mode but haven&rsquo;t been spotted today in Asia. EUR/AUD buying did help support through the latter part of the session. Ranges: 1.3891/1.3936.USD/JPY has again been quiet despite plenty of verbal intervention from Azumi. Unconfirmed reports that Kampo is on bid at 75.70. Ranges: 75.94/76.15Cable 1.5988/1.6036; USD/CHF .8767/89]]></description><link>http://fastbrokers.com/commentary/view.php?id=4439</link><pubDate>2011-10-26 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Risk on. Hope springs a turtle ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4438</guid><description><![CDATA[Risk on.&nbsp; European stocks, oil, gold, US treasury yields all up, yada, yada, yada. You know the gig.EUR/USD up at 1.3950 from early 1.3900 having been as high as 1.3959.&nbsp; Middle East have been persistent buyers below 1.3900.&nbsp; Had reports of M/E&nbsp;purchases as high as 1.3930.&nbsp;Real money sell interest up at 1.3950/60 so far capping the topside. Talk of buy&nbsp;stops through both 1.3960 and 1.3970.&nbsp; Barrier option interest remains up at the psychological 1.4000.Cable up marginally at 1.6005 from early 1.5985.&nbsp; Russia was an early seller, helping pressure the pairing as low as 1.5962 before decent rebound.&nbsp; Talk now of sell orders&nbsp;&nbsp;layered from 1.6020 through 1.6060.&nbsp; We&rsquo;ve been as high as 1.6022.USD/JPY all but unchanged at 76.15 in another very quiet trade.AUD/USD maginally firmer at 1.0485 from early 1.0465, underpinned by risk on backdrop.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4438</link><pubDate>2011-10-25 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Busy for a Monday, as early risk appetite evaporates.; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4437</guid><description><![CDATA[European stocks opened nicely higher and those gains have all evaporated. Risk on, then not so much.EUR/USD down at 1.3835 from early 1.3885, having been as high as 1.3953.&nbsp; Middle Eastern buying seen early as European stocks opened sharply firmer and&nbsp;buy stops&nbsp;helped fuel rally to session high.&nbsp;Asian sovereign and BIS selling seen around the highs and as European stocks gave ground so EUR/USD&nbsp;&nbsp;came lower. Grotty euro zone PMI&nbsp;data certainly didn&rsquo;t help the single currency&rsquo;s cause, and there is obviously still much uncertainty surrounding whats going to be put on the table this coming Wednesday.Middle Eastern buying was again&nbsp;noted on the dip back below 1.3900 and it lent some support, albeit temporary. Leveraged players notable sellers in the push lower.Cable down at 1.5925 from early 1.5960, the psychological 1.6000 proving something of a brickwall on the topside.&nbsp; Talk of barrier option interest at said level. Whether it was ever taken out I couldn&rsquo;t really&nbsp;tell ya.USD/JPY touch lower at 76.05 from early 76.25, as US treasury&nbsp;yields have come lower in line with the declining risk appetite.Talk of barrier option interest down at 75.75 and 75.50.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4437</link><pubDate>2011-10-24 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Positive news out of China.; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4436</guid><description><![CDATA[AUD/USD has again been the main mover in Asia, with strong performances on regional bourses improving risk sentiment. The AUD/USD edged lower in early trade as traders preferred to sell ahead of technical resistance at 1.0375 as well as on the EFSF delays. Solid PMI data out of China kicked the Aussie up out of its session range, triggering stops above 1.0400 in the process. The low fix in USD/CNY also helped soften bullish USD sentiment. Range: 1.0311/1.0417EUR/USD opened lower this morning after closing in NY on Friday at 1.3880. The lack of progress at the latest European meeting was the cause but with mainly positive vibes coming from meeting participants, shorts soon covered. Improved risk sentiment also encouraged EUR short covering. Ranges: 1.3827/1.3907USD/JPY had a fairly typical 30 pip range, with some early buying in case of BOJ activity gave way to sideways drifts. Ranges: 76.13/46USD/CHF .8820/53; Cable 1.5928/82]]></description><link>http://fastbrokers.com/commentary/view.php?id=4436</link><pubDate>2011-10-24 00:00:00 -08:00</pubDate></item><item><title>European Wrap: Quiet ahead of the EU summit, despite excessive jawboning again.; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4435</guid><description><![CDATA[All much of a nothingness this morning with the usual conflicting comments from EU ministers desperate to air their views, result in nothing of note.EUR/USD was sold off on the European open from from 1.3800 initially on softer French manufacturing data, corporate sales and comments from Nowotny that a rate cut was discussed at the last ECB meeting. Euro fell to 1.3704 before buyers emerged and a short squeeze reversed to 1.3789 despite softer German IFO data.GBP/USD lagged the euro fall as EUR/GBP fell from 0.8729 to 0.8696, but&nbsp; also lagged the rally as the cross picked up to 0.8724. Cable traded 1.5754-1.5821 and was unmoved by the borrowing data..EUR/CHF carried on the fall from Asia where stops were triggered on a drop down through 1.2300, and&nbsp;USD/CHF through 0.8900. Both cratered at 1.2211 and 0.8883, before a short squeeze saw a quick bounce back to 1.2303 and 0,8952. A large German bank seen in the swaps leading to spurious&nbsp;rumours&nbsp;of SNB intervention,USD/JPY failed to ignite&nbsp; in a 76.65-76 range and EUR/JPY followed EUR/USD through a 105.08-91 range.AUD/USD was particularly quiet in between 1.0206-56.Commodites also took a breather with&nbsp; December WTI content around 86.40 and Gold&nbsp; stable around 1625European stocks were relatively quiet posting small gains- STOXX 0.6%, FTSE 0.6%, CAC 0.5% and DAX 0.4%]]></description><link>http://fastbrokers.com/commentary/view.php?id=4435</link><pubDate>2011-10-21 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: CHF continues to appreciate; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4434</guid><description><![CDATA[The CHF was the only mover of note today, with stops being triggered below 1.2300 in EUR/CHF, sending the cross down to 1.2205 from opening levels near 1.2330. This followed on from some hefty CHF buying late in the NY session. USD/CHF traded .8844/.8952.EUR/USD has been jobbing around in a 40 pip range, ignoring all things to do with the EFSF and EZ debt saga. EUR/CHF stop-loss selling was the only move of note, with bids close by at 1.3760 and offers starting at 1.3820 ensuring a range bound session. Large stops reportedly outside of the 1.3650/1.3870 holding range.AUD/USD has drifted lower on the usual risk-off Friday sentiment. Range 1.0200/60USD/JPY 76.71/91, Cable 1.5777/1.5823]]></description><link>http://fastbrokers.com/commentary/view.php?id=4434</link><pubDate>2011-10-21 00:00:00 -08:00</pubDate></item><item><title>European Wrap: Risk-off in Asia, switched on in Europe, following ECB bond buying and EFSF guidelines; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4433</guid><description><![CDATA[Europe open to risk aversion after Asian&nbsp; equity and commodity markets came under fire, with the EUR/USD lows seen in early Europe on the back of reports of differences between the IMF and EU/ECB over Greek sustainability.EUR hit lows of 1.3673, before&nbsp; a Dow Jones report stated there was no doubt that the tranche would be disbursed and we bounced back into offers at 1.3720.ECB buying of Italian and Spanish 10 yr bonds led a stronger move up through stops at 1.3760 . Release of the EU guideline report stating EFSF could be used to buy bonds then opened the door to a panic rally through stops at 1.3875 and &nbsp;1.3800 to 1.3843&nbsp;.Leveraged sellers&nbsp;and Asian names (possibly sovereigns) then turned the tide, with a drop back to 1.3780/85. Stops are building above 1.3850.Cable lagged the rally (&nbsp;as EUR/GBP bounced off lows of 0.8709 to 0.8767) after early lows of 1.5693, but later gathered some steam before hitting a wall of offers around 1.5800&nbsp; (high 1.5803) as EUR/GBP fell back to 0.8740.EUR/CHF struggled to break higher through 1.2440, slipping back all morning and triggering stops down through 1.2380 to 1.2362.USD/JPY traded 76.68-76.86 with EUR/JPY shadowing EUR/USD from 104.89 up to 106.30AUD/USD recovered after being under the cosh in Asia on the back of heavy base metal sales, but a move down to 1.0147 failed to fire off reported stops, with Asian CB&rsquo;s then seen buying in the 1.0180&prime;s leading a bounce to 1.0230. The&nbsp; EU guidelines release then took out stops through 1.0250 and 1.0265 to 1.0299.Despite the euro rally, equity markets&nbsp;remain in the red this morning with FTSE down around 0.8%, STOXX&nbsp;- 0.9%, CAC -0.9% and DAX -1%, but all recovering from early lows.Gold&rsquo;s still reeling from further long bail outs on the back of heavy base metal sales in Asia slipping to 1607.75 from&nbsp; Asian highs of 1645.Nymex crude for December&nbsp; picked up from 85.30 to 87.10 but later fell back to 86.00]]></description><link>http://fastbrokers.com/commentary/view.php?id=4433</link><pubDate>2011-10-20 00:00:00 -08:00</pubDate></item><item><title>Asia-Pac Wrap-up: Some Excitement ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4432</guid><description><![CDATA[Good sized moves on a day, especially with virtually nothing on the calendar. The risk trade was in fashion in the early going as EUR/USD moved up 30 pips to 1.3782 but that would be all. Worries that Europe will fail to deliver this weekend are front and&nbsp;center. The fears prompted a slow, steady 70 pip fall in EUR/USD through the remainder of the session.The same pattern played out across the board, especially in AUD. The declines coincided with the NAB release but that was mostly coincidence. Selling in everything else picked up as yen buyers emerged following the toothless and predictable Japanese plan to soften the yen. The AUD/USD range was 1.0263 to 1.0175.Regional stocks all negative. Australia -1.4%, Korea -0.2%, Japan -0.9%, India -1.4%, Hong Kong -2.0%, Shanghai -2.0%]]></description><link>http://fastbrokers.com/commentary/view.php?id=4432</link><pubDate>2011-10-20 00:00:00 -08:00</pubDate></item><item><title>European Wrap: Risk back on as EFSF leverage hopes,(despite denials), pushes euro higher. ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4431</guid><description><![CDATA[A strong rally this morning&nbsp; in the EUR/USD with Europe continuing the recovery from NY&rsquo;s late fall on the back of a Spanish downgrade. Asian sovereign buying and the Japan/Korea swap agreement&nbsp;prompted&nbsp; the move&nbsp; higher through 1.3800. BIS slowed the ascent around 1.3820 before&nbsp; a panic buying spree in EUR/CHF took out&nbsp; the semi-official &nbsp;interest assisted by Middle Eastern buying. Stops were then &nbsp;taken out through 1.3850/60 to 1.3867GBP/USD&nbsp; largely tracked the EUR/USD but the MPC minutes showing unanimous support for the QE program sent cable back down&nbsp; to 1.5712 from 1.5735&nbsp;before Asian sovereign buys took cable&nbsp; through earlier highs of 1.5778 to 1.5818.EUR/GBP jumped on the MPC minutes to the 100 day MA at 0.8788 before later backing off to&nbsp; 0.8757USD/JPY did what it does best.( nothing) in a 76.71-85 range with all action seen in the EUR/JPY in a steady climb to 106.47 from 105.80AUD/USD&nbsp; traded up to 1.0353 from 1.0280. Eastern european names were seen on the bid at 1.0280 with&nbsp; sovereign names steady buyers on the morning . Offers are sitting up at 1.0370/75 and 1.0380/85EUR/CHF saw panic buying amid rumours of a&nbsp;hike in the 1.20 peg set by the SNB. , with a UK clearer in the mix buying on behalf of&nbsp; a Hedge fund.&nbsp; A sharp spike from 1.2380 topped at 1.2465 before backing off to 1.2420European bourses were up around 1-1.5% ( STOXX up 1.3%, FTSE 1.1%, CAC 1% and the DAX 1.2%)]]></description><link>http://fastbrokers.com/commentary/view.php?id=4431</link><pubDate>2011-10-19 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: USD/Asia falls after Japan/Korea increase swap arrangements ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4430</guid><description><![CDATA[Most of the action today was in the regional currencies with USD/KRW falling quite swiftly after the announcement that Japan and South Korea had expanded their currency swap arrangements 5-fold. This put bearish pressure on the USD across the major pairings as well.EUR/USD closed in NY around 1.3740 after a very choppy session saw it up and down inside a 150 pip range. There have been no EZ-related headlines to move the EUR and it was the Japan/South Korea swap which triggered some USD selling. EUR/USD gapped swiftly from 1.3740 to 1.3770 before steadying, and then moving above 1.3800 in late trade. Overall range 1.3723/1.3805. Sell orders noted 1.3820/30 with stops above 1.3850.AUD/USD took a similar path to EUR/USD, taking leads from USD/Asia, although some decent corporate demand was noted as was demand out of Japan. Range: 1.0229/85USD/JPY again traded a miserable 20 pip range between 76.63/83. USD/CHF .8954/.9000, and Cable 1.5697/1.5743]]></description><link>http://fastbrokers.com/commentary/view.php?id=4430</link><pubDate>2011-10-19 00:00:00 -08:00</pubDate></item><item><title>European Wrap: Risk-off led by French downgrade concerns and Poor German ZEW data; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4429</guid><description><![CDATA[The morning started as it meant to go on, with risk appetite slowly eroded by falling equities in Asia, which fed into Europe. France was under the spotlight again with Moody&rsquo;s concerns over France&rsquo;s public finances and a possible future downgrade taking centre stage despite comments from the French FinMin&nbsp;. Concerns on the EFSF rating&nbsp; as a result of any French downgrade adding to the negative.EUR/USD was hit from the open by leveraged and real money &nbsp;sellers&nbsp; from 1.3780. Stops were taken out down through 1.3720 to&nbsp; 1.3685/90 where bids and some macro buying led a bounce to 1.3725/30, with a bit of assistance from the BIS around 1.3715/20.A weaker German ZEW and comments from it&rsquo;s economist Schroeder triggered more selling to 1.3657, where Sovereign bids coincided with similar interest in cable under 1.5700, to spark a bounce back to wards 1.3700.&nbsp; Buy stops now resting up through 1.3730GBP/USD&rsquo;s fall&nbsp;was&nbsp;partially&nbsp;slowed by EUR/GBP cross sales easing the cross from 0.8717 to 0.8690.&nbsp; A stronger set of CPI and RPI data failed to convince a market to rally as growth&nbsp; and QE fears outweighed. A quick burst up to 1.5785&nbsp; on the release was immediately undone with&nbsp; bids filled down to 1.5710. A further push saw a low of&nbsp; 1.5695 before Asian sovereign&nbsp; and Russian buying interests&nbsp;turned the tide back up towards 1.5740/50USD/JPY continues to be forgettable in a 76.65-86 happy in&nbsp; mid range &nbsp;of option interests&nbsp; that include a 76.00-77.50 DNT option play. EUR/JPY followed EUR/USD round the streets between 104.78-105.92AUD/USD traded down from 1.0202 to&nbsp; 1.0118 tracking the EUR/USD&nbsp;, but sovereign buying interest was&nbsp;noted at 1.0160 and&nbsp; 1.0135/40 as well as UK fund demand at the lower level.Gold dropped back from $1671 to $1655 with WTI Nymex crude&nbsp; shedding around 80 cents &nbsp;to 85.54European stocks were all down with&nbsp; STOXX last down around 0.8%, FTSE off 0.-9%, CAC-1.4% and DAX -0.2%]]></description><link>http://fastbrokers.com/commentary/view.php?id=4429</link><pubDate>2011-10-18 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: China's GDP comes in slightly below expectations; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4428</guid><description><![CDATA[Any volatility today was seen in the AUD/USD, which has been up-and-down on a few occasions inside a 1.0157/1.0221 range. The pair closed in NY around 1.0165 and the first move was up, as overnight shorts took profit after a big fall. The RBA minutes were greeted with silence, with the market still none the wiser re a November rate cut. If global issues moderate, then a rate cut is assured but that&rsquo;s a big but. The market wasn&rsquo;t sure how to react to the Chinese data, with GDP lower than expected but still strong, and retail sales showing a still buoyant domestic growth. Eventually AUD/USD fell alongside the copper price but has since recovered to session highs.EUR/USD has taken a lead from the Aussie, up and down in a 30 pip range after earlier attempts to take out stops below 1.3720 failed. Ranges: 1.3729/88USD/JPY was back to its old tricks again in a 13 pip range, 76.75/88.Cable saw some healthy demand late in the session and traded 1.5736/1.5821. USD/CHF .8943/93]]></description><link>http://fastbrokers.com/commentary/view.php?id=4428</link><pubDate>2011-10-18 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Very busy for a Monday ; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4427</guid><description><![CDATA[Extremely busy for a Monday morning.&nbsp; Risk on bigtime&hellip;&hellip;.whoops&hellip;..not so much.EUR/USD down at 1.3795 from early 1.3845 having earlier rallied strongly to 1.3915.&nbsp;&nbsp; European stocks opened sharply firmer and built on early gains. This helped propel EUR/USD higher and eventually well-documented 1.3900 barrier interest was taken out.&nbsp; Buy stops were tripped through 1.3905 and we got as high as 1.3914 where we rather dramatically topped out.BIS stepped into the market and was a notable seller above 1.3905.&nbsp; Then comments from Schaeuble and and Siebert (see above) helped send the single currency into a tailspin.Trailing sell stops through 1.3850 were the first to go accelerating the slide, and then more stops through 1.3820/1.3825 (reports of both, take your pick) inflicted further damage.&nbsp; Crazy shit&hellip;&hellip;.USD/JPY unchanged on the day at 77.25.&nbsp; We did however see a little price action when risk on buying of the&nbsp;EUR/JPY cross&nbsp;managed to get USD/JPY to 77.45.&nbsp; US investment bank. model funds were notable sellers of the yen during these moves.Barrier option interest is well-documented up at 77.50 and defensive selling ahead of said level was given a helping hand as general risk appetite diminished sharply.&nbsp; Talk of buy stops through 77.60 if we ever manage to get through 77.50.Cable easier at 1.5745 from early 1.5790,&nbsp;an early&nbsp;having topped out at 1.5848.&nbsp; EUR/GBP little changed at .8760.&nbsp; Early rally in the cross topped out at .8797, just shy of decent-sized buy stops just above .8800.AUD/USD effectively unchanged at 1.0290.&nbsp; Early rally stalled around 1.0345/55 as two sovereigns&nbsp;&nbsp;and &ldquo;black box&rdquo; sellers stepped into the market. It really looked like that might be the top, at least for the short-term (well it did to me).&nbsp; But a major US commercial&nbsp;bank then stepped in buying decent amounts&nbsp;giving the pairing a final push up to 1.0371 before the subsequent&nbsp;slump.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4427</link><pubDate>2011-10-17 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4426</guid><description><![CDATA[Very quiet session again in Asia and even the early interbank market which is normally volatile on a Monday, stayed inside very tight ranges.USD/JPY was for a change the most volatile pair in early trade but only because interbank dealers tried successfully to trigger tight trailing stops below 77.00. The market had gone long into the weekend on the back of yet more rumours that the BOJ/MOF would introduce measures to weaken the Yen. Once they didn&rsquo;t emerge, the stops got triggered. The majority of the rest of the session has been spent near 77.20. Overall ranges: 76.91/77.30EUR/USD traded a 20 pip range in early interbank trade and only some late selling has pushed it outside of this range. Barriers at 1.3900 are reportedly well protected and all rallies above 1.3880 met with willing sellers. Dips have been fairly shallow with very little interest being shown either way. Ranges: 1.3830/87AUD/USD was unable to hold above 1.0300, with traders happy to book profits after a solid run higher towards the end of last week. Ranges: 1.0281/1.0340Cable 1.5786/1.5837 and dealers are still referring to sizeable stops in EUR/GBP above .8800.USD/CHF .8909/53]]></description><link>http://fastbrokers.com/commentary/view.php?id=4426</link><pubDate>2011-10-17 00:00:00 -08:00</pubDate></item><item><title>European Morning Wrap: Slight risk on in quiet trade : By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4425</guid><description><![CDATA[Slight risk on. European stocks, oil and gold all firmer.&nbsp; Some hopes the G20 will come up with something. We live in hope.EUR/USD up at 1.3795 from early 1.3770.&nbsp; It&rsquo;s been choppy fare in thinned out Friday markets.&nbsp; Sovereign interest has been notable on both sides of the market this morning, helping contain price action.&nbsp;Leveraged names, Chinese investors (not Giant Panda) seen buying in early trade taking us above 1.3800 only for &ldquo;2nd tier&rdquo; sovereigns to bat us quickly back below said level.&nbsp;We then proceeded lower as European stocks got off to an iffy start.&nbsp; BIS stepped in buying around 1.3775 and Middle Eastern sovereigns below there, and as European stocks rebounded so EUR/USD recovered its&rsquo; poise.&nbsp; Reports circulated that the ECB was in buying Italian and Spanish bonds and this, as usual, provided further support.We rallied strongly back over 1.3800 to session high 1.3827 before more sovereign name selling batted the pairing back lower.&nbsp; All in all, not hugely inspired.Cable up very marginally at 1.5765 from early 1.5750 having been as high as 1.5795 at one stage.&nbsp; Talk of barrier option interest at 1.5800 and defence of said interest has been enough to cap the topside for now.USD/JPY very marginally firmer at 77.00 from early 76.85, underpinned by risk on backdrop.&nbsp; EUR/JPY up at 106.30 from early 105.90,AUD/USD up at 1.0240 from early 1.0195, again underpinned by risk on backdrop.Pleasant weekend y&rsquo;all. Have a good week next week. I&rsquo;ll be thinking of you while I enjoy a weeks well-earned rest.]]></description><link>http://fastbrokers.com/commentary/view.php?id=4425</link><pubDate>2011-10-14 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: Spain downgraded; China CPI eases slightly to 6.1% YoY: By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4424</guid><description><![CDATA[Pretty quiet overall apart from&nbsp;some swift moves in the EUR/USD, AUD/USD and USD/SGD.EUR/USD closed in NY at 1.3770 and traded quietly until the S&amp;P downgrade of Spain, which saw EUR/USD fall quickly to 1.3732 before steadying. It traded with a heavy tone until the MAS announcement sent USD/SGD 100 pips lower and this gave EUR/USD a brief lift to 1.3770 again. We have since then seen a fresh intraday low at 1.3720 but overall its been very quiet. 1.3720/75AUD/USD fell initially alongside the EUR/USD, rallied sharply when USD/SGD fell, eased again when EUR/USD made its session lows and then rallied back towards session highs post China CPI. Overall range 1.0142/93USD/SGD was the big mover, falling from 1.28 to 1.27 after the MAS wasn&rsquo;t as aggressive as had been feared. It finishes lower on the day but mid-range for the session.USD/JPY 76.82/98; USD/CHF .8968/.9008]]></description><link>http://fastbrokers.com/commentary/view.php?id=4424</link><pubDate>2011-10-14 00:00:00 -08:00</pubDate></item><item><title>European morning wrap: Risk off innit.......; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4423</guid><description><![CDATA[Risk off this morning, European stocks, oil, gold all lower, yada, yada, yada.&nbsp; Guess it was about time.&nbsp; Things were just getting too damn optimistic for my liking.&nbsp; The release of the latest ECB monthly bulletin certainly didn&rsquo;t help matters (see exerts above)&nbsp;EUR/USD down at 1.3730 from early 1.3800, having been as low as 1.3708.&nbsp; Pairing bounced around either side of 1.3800 in early trade.&nbsp; Middle Eastern and Asian sovereign selling was seen above 1.3800 and we finally started to slip lower.&nbsp;&nbsp;The sell off then gathered serious momentum as exerts from the ECB monthly report hit the wires.Cable down at 1.5690 from early 1.5740 having been as low as 1.5672.USD/JPY has given ground, down at 76.85 from early 77.05,&nbsp; EUR/JPY down at 105.55 from early 106.35, both pairings weighed down by increased risk aversion.AUD/USD, as one would expect against the&nbsp;risk off backdrop, down at 1.0155 from early 1.0195]]></description><link>http://fastbrokers.com/commentary/view.php?id=4423</link><pubDate>2011-10-13 00:00:00 -08:00</pubDate></item><item><title>Asian market wrap: AUD rallies on improved jobs data; By FastBrokers Research Team. </title><guid isPermaLink="true">http://fastbrokers.com/commentary/view.php?id=4422</guid><description><![CDATA[Very quiet session apart from some volatility in the Aussie after some stronger than expected jobs data.AUD/USD opened at 1.0160 and drifted lower into the Tokyo open as Japanese traders sold AUD/JPY following the big overnight rally. The strong jobs data saw AUD/USD rally almost 100 pips to 1.0230 but technical resistance at that level encouraged profit takers. The lower than expected China trade surplus then encouraged more AUD selling, sending it back to mid-range. Ranges: 1.0126/1.0230EUR/USD has had a quiet 25 pip range. EUR/JPY selling weighed early in the session but solid bids in the interbank market just below 1.3770 have proven to be strong enough all day. Sell orders are noted at 1.3820/25, just ahead of technical resistance at 1.3830/40. Range: 1.3768/93, EUR/JPY 106.09/55USD/JPY has been slightly more active than yesterday in a 30 pip range, with no sign of any intervention noise from either the FinMin or the BOJ, despite the overnight rumours. Ranges: 77.00/30Cable: 1.5727/58, USD/CHF .8943/83]]></description><link>http://fastbrokers.com/commentary/view.php?id=4422</link><pubDate>2011-10-13 00:00:00 -08:00</pubDate></item>
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