Trading plan for 03/010/2017

Trading plan for 03/010/2017: The currency market repeats the pattern from yesterday: after a sluggish start comes a clear strengthening of the USD against other major currencies. The weakest are NZD and AUD; the latter by reference to the RBA’s remarks on real estate market control. EUR/USD touched 1.1694 and USD/JPY was at 113.18. GBP/USD […]

Burning forecast 10.03.2017

Burning forecast 10.03.2017 EURUSD: Sales. Purchases are premature. The EURUSD exchange rate continues to be under pressure. Reasons: The crisis in Spain because of the referendum on the independence of Catalonia, which took place on October 1, is the worst political and civil conflict in Spain in the last 40 years, since the fall of […]

BOE FPC Minutes: See substantial risk of Brexit disruption

BOE Financial Policy Committee Minutes from 20 Sept meeting also out 3 Oct The risk of disruption to wholesale UK banking services appeared to be slightly higher than previously thought, given that a number of EEA firms branching into the UK were not sufficiently focused on addressing this issue. A the FPC judged that overall […]

UK Markit/CIPS Sept construction PMI 48.1 vs 51.1 exp

UK Markit/CIPS Sept construction PMI data now out 3 Oct 51.1 prev Not key data given the sector’s minimal impact on GDP but the algos aren’t bothered and in any case it is a soggy reading. BOE FPC Minutes out too and expressing Brexit concerns. GBPUSD down to test demand building around 1.3250 again as […]

AUDUSD orders 3 Oct — Time for another «wakey wakey» call

Currently 0.7809 tightly contained post-RBA Last time I summoned the volatility Gods we were reasonably well rewarded. We can but hope again. Offers:    0.7830-35 0.7850-55 0.7885 0.7900 Bids:      0.7785 0.7750 0.7730 0.7700                                                    AUDUSD 15m Create your survey with

USDJPY orders 3 Oct — Recent highs still being defended

Currently 113.07 underpinned still but still unable to break higher I warned on the way earlier to beware sellers up around 113.25 Demand building around 112.85 now Offers: 113.20-25 113.35 113.50-60 113.80 114.00 Bids:    112.85 112.70 112.50 112.35 112.20 112.00 111.85 111.50                                               USDJPY 60m Create your survey with

GBPUSD orders 3 Oct — Brexit and May in focus

Currently 1.3278 UK PM May under scrutiny still as the Conservative Party conference  finds Bojo up to the rostrum today with a speech called «Let the lion roar» as the UK heads into the great wide open UK construction PMI data at 08.30 for the algos to feed off. Be ready with your entry/exit levels. […]

Forex option contract expiries for today 3 Oct

Here’s the latest on today’s notable expiries for the 14.00 GMT cut 3 Oct EURUSD: 1.1700 (EUR 450m) 1.1750-55 (760m) 1.1770 (2.4bln) 1.1800 (900m) 1.1850(580m) USDJPY: 111.00 (USD 400m) 112.00 (490m) 114.00 (400m) GBPUSD: None of note AUDUSD: 0.7750 (AUD 460m) 0.7850 (405m) 0.7900 (380m) EURUSD at 1.1750-70 could draw p/a closer still but beware of sell defence […]

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