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London Open – Busy day ahead with PMIs & UK Retail Sales by Milan Cutkovic

The major Asian stock indices are all lower this morning, with the Nikkei down 0.40 % and the Shanghai Comp losing 0.90 %. The main theme overnight was the lower than expected inflation numbers out of New Zealand, which led to a 100 pips drop in NZD/USD. Most bank analysts agree that it is unlikely […]

Goldman Sachs: Bearish EUR/USD techs

From GS: The LT structural setup (wedge from ’12, triangle from ’08) is still intact and suggests an eventual move down to ~1.20. It’s been in a corrective process for nearly three weeks and completed an ABC-type zigzag off the early-Oct. low. From a wave perspective, it’s possible that it’s now in the 5th wave […]

BNP Paribas: Short EUR/NZD

We initiate a short EURNZD recommendation at 1.5920 targeting 1.55 with a stop above 1.6250. Short EUR exposure appears to be one of the clearest FX positions to choose as it remains the funding currency of choice. Ongoing dovish rhetoric from ECB President Draghi as well as other members suggests more policy easing. Short EURNZD […]

USD/JPY finally moving out of it’s daily range by Milan Cutkovic

USD/JPY has been stuck in a 30 pips range for most of the day, despite the strong Nikkei European equity markets and S&P 500 futs also up on the day Pair has now finally broken out the intraday range and is approaching 107.30 Offers reported at 107.50, above there not much resistance until 108.00 More […]

Global stock indices: a quick check by Mary McNamara

With the key US stock indices attempting a recovery off their recent lows and with the VIX making a retreat I thought it would be useful to check some global indices and put these recent moves into greater perspective.  VIX weekly: this has pulled back below the 20 level but the Elliott Wave indicator on my chart […]

FX: Option expiries for today’s NY cut (10:00 NY, 15:00 London)

AUD/USD: 0.8700 (764M), 0.8790-0.8800 (745M).  NZD/USD: 0.7980 (375M)USD/CAD: 1.1200 (200M), 1.1300 (300M)EUR/USD: 1.2650 (400M), 1.2665 (710M), 1.2675 (276M), 1.2680 (432M)1.2685 (201M), 1.2750 (294M), 1.2800 (433M), 1.2840 (869M)EUR/GBP: 0.7800 (391M)0.7850 (100M)USD/JPY: 106.10 (653M), 106.15-20 (352M), 107.50 (252M)EUR/JPY: 135.20 (844M) 

FX Majors & Crosses trade ideas via the FXWW Chatroom

Danske:MajorsEUR/USD: LONG AT 1.2756 FOR 1.2958 OBJECTIVE, STOP 1.2703USD/JPY: LOOK TO SELL 107.45/50GBP/USD: LONG AT 1.6133 FOR 1.6287; STOP AT 1.6063USD/CHF: LOOK TO SELLAUD/USD: LOOK TO SELLUSD/CAD: BUY AT 1.1160 FOR 1.1418 STOP AT 1.1081CrossesEUR/JPY: SELL AT 136.25 FOR 135.24; STOP AT 136.50EUR/GBP: SELL AT .7920 FOR INITIAL .7851 OBJECTIVE; STOP AT .7950EUR/CHF: SHORT AT […]

Nikkei rallies to fresh highs: by Milan Cutkovic

The Nikkei is currently up 2.50 % on the day All major Asian stock indices are in the green as well, inspired by gains in US equities The S&P closed 2 % higher yesterday, while the DJIA gained 1.40 % Meanwhile, USD/JPY isn’t benefiting much from the move in Japanese equities, being stuck around 107.00 […]

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