Chinook's EUR/USD (E/$)Mumblings

Looks like EURJPY is becoming interesting. The effect also make the EURUSD come down some, but there are reported bids around 1.3140 and 1.3120 - although I don't think we'll see that tough action yet.

If EURJPY senses the pull of the 135.00 again, this might get hairy for the craneberry sauce on the EURUSD turkey.

Everyone and their mother are long EUR, like they say.
 
EURJPY sees some action, while EURUSD still is being bogged by MMs playing the "wide spread" game to discourage anyone, and not hit any smalltime lots. So far USDJPY has also been quite good, but the EURJPY is becoming increasingly interesting given the EURUSD run-up and good japanese numbers.

For the EU I think some of the solution lies within the EURJPY, as that would also put pressure on BOJ to react, making them take a good share of bouncing USD when that time comes.
 
Kuroda, head of Asia Development Bank, says the further rise of the € is inappropriate, and is adamant that forex stability must be maintained - according to Thomson/Reuters.

He almost sound like the IMF charter, but also is the mastermind behind Japan's intervention strategy.

In further comments, Thomson notes that BOJ stands ready now to act on any further USD fall with the economic consequences the MoF sees for this scenario.

Can't complain about them upping verbal pressure and getting broader in the verbal support.
 
do you ever notice when its not busy in FX futures market the games
the players play
showing size and cancel size on the depth
of market levels or how it can be skewed to one side of the bid / offer?

:p
 
Quote from SethArb:

do you ever notice when its not busy in FX futures market the games
the players play
showing size and cancel size on the depth
of market levels or how it can be skewed to one side of the bid / offer?

:p
More...

Sure, like now - the marketmaker on EURUSD don't like to see any trades - and discourages it by having an almost constant 3-5 ticks spread on the future - with fair bid and "pretty wide ask". I guess he'll get burned bad if he plays easy to get tonight, and maybe his job is to play down any EURUSD action.

The USDJPY on the other hand shows a more agile trading. So it's just picking the right one - and that's the USDJPY - even a two-leg to get EURJPY seems nice - but "some" slippage with unusually wide EURUSD - for a reason of course.

Not trying to say that the EuroFX marketmaker controls spot FX, but just discourages tight trading with very wide spreads right now.

If there was to be any action by BOJ, I think the best time would be around asian close - european open when some momentum could be gained.

Thomson notes very large offering at 1.3195 and 1.3200 barriers - but also notes that large offers or barriers haven't mattered before to the EURUSD rising ...

I thoroughly enjoy second guessing people's motives - especially traders - and try and use this in small signaling patterns. It's like a nice game of Shogi - which get's a little deeper than a game of chess where less and less pieces stay in play.¨

Towards this session's low they also emplyed a "leading pawn" defense extensively, but as interest is thin - there was no slapping pawns between anyone.
:D
 
Repeated statements from BOJ ..
Now cabinet secretary Hosoda warns that it's clear that currency moves are ont in line with fundamentals ...

All play and no work .. makes Jack ...

Could we see something which makes it clear for us, please ? Markets won't hear any of it. Watachi-wa USDJPY/EURUSD/EURJPY desu. Sumimasen, wakarimasen. Wakarimas-ka, o-Hosoda ?
:D
 
I'm thinking the Japanese are all bark no bite. I still have stops all over the place, tight. But what do you honestly think their chances are of coming in this week?

Every comment I hear - blah blah blah. They're just trying to talk it down.
 
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