FOREX: USD Erases Post-Fed Losses, With Heavy Volume GBP, EUR Sales
Mar-20 09:35
- The greenback has more than erased the post-Fed weakness on this latest leg higher - EUR/USD and GBP/USD now comfortably through yesterday's lows, accelerating the price action as volumes really pick up on the break. No specific headline or news trigger behind this move, which isn't being endorsed by cross-market moves: the front-end of the US curve is holding yesterday's drift lower, although US equity futures are edging off the better levels and moving closer toward unchanged.
- As a result, the USD's comfortably the best performer so far, with JPY not far behind. AUD and NZD continue to underperform, meaning NZD/USD has slipped closer toward the 100-dma of 0.5738, opening a >50 pip gap with the mid-week high. AUD/NZD is posting a strong daily candle pattern, having bounced 50 pips off the pullback and cycle low, taking out yesterday's high in the process.
- Rate decisions so far this morning have more-or-less toed the line in Switzerland and Sweden, with the BoE also expected unchanged later today. Weekly US claims data is the calendar highlight, although the central bank speaker slate is busy: 8 ECB speakers are due, headlined by ECB's Lagarde who's appearing in front of an EU parliamentary hearing.
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EQUITIES: Estoxx outright call seller
Feb-18 09:28
SX5E (21st Mar) 5700c, sold at 25.5 in 11.4k.
EQUITIES: Estoxx call spread
Feb-18 09:26
SX5E (17th April) 5800/6000cs 1x2, bought for 15 in 3k.
FOREX: FX OPTION EXPIRY
Feb-18 09:25
Of note:
EURUSD 3.23bn at 1.0400/1.0450.
EURUSD 1.55bn at 1.0500 (wed).
USDJPY 1.34bn at 152.00 (wed).
USDCNY 1.9bn at 7.2740/7.2775 (thu).
EURUSD 5.02bn at 1.0450/1.0470 (mon).
- EURUSD: 1.0400 (741mln), 1.0425 (713mln), 1.0430 (234mln), 1.0440 (272mln), 1.0445 (461mln), 1.0450 (812mln), 1.0480 (230mln), 1.0500 (510mln).
- USDCAD: 1.4185 (470mln).
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