Written by FastBrokers House
Dollar looking generally soft as we start the week, although fairly steady versus swissy. USD/CHF unchanged around .9245/50.
EUR/USD up at 1.4030 from early 1.3975, having been as high as 1.4037 so far. News that Moody’s had downgraded Greece caused a dip to 1.3955 area which duly ran into strong Middle Eastern buying. Middle Eastern buying was a feature of EUR/USD’s rally last week and we’ve started the new week as we finished the last. Oil up another two bucks. Plenty of them petro dollars to diversify.
Talk of barrier option interest now at 1.4050.
Cable up at 1.6320 from early 1.6250. Hedge fund buying helped us get above 1.6300 and stops were tripped through 1.6305 on way to 1.6342 session high.
Talk of 1.6350 barrier option interest, and sell orders protecting that interest have so far capped cable’s rally. Stops, not surprisingly, said to lie just above 1.6350.
USD/JPY marginally easier, down at 82.08 from early 82.20. Talk of buy orders 81.50/70, stops below there. Sell orders 82.40./50, stops above there.
AUD/USD up at 1.0175 from early 1.0130. Talk of sell orders layered 10200 upto 1.0250.
Market Commentary provided by FastBrokers.
Disclaimer: FastBrokers’ market commentary is provided for information purposes only and under no circumstances should be regarded neither as an investment advice nor as a solicitation or an offer to sell/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.
Risk Disclosure: There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.
