Professional Documents
Culture Documents
25am HKT)
Currency
Currency
EURUSD
1.12345-60
EURJPY
134.74-135.01
USDJPY
119.84-120.12
EURGBP
0.7337-525
GBPUSD
1.5310-21
USDSGD
1.4095-1.4135
USDCHF
AUDUSD
0.9723-39
0.7178-0.7216
USDTHB
USDKRW
35.87-36.01
1156.9-1161.6
NZDUSD
0.6594-0.6630
USDTWD
32.555-880
USDCAD
1.3053-71
USDCNH
6.3409-6.3536
AUDNZD
1.0874-1.0903
XAU
1141.9-1150.0
Key Headlines
FX Flows
It is back to China Watching or to some, China Bashing.
Chinese market reopens today and obvious focus is on
the CNY fix and how their stocks will perform.
For start, USDCNY fixed at 6.3505 was in line with what
traders were calling for. Shanghai Composite opened and
up 3+ pct.
It is unheard of but spot Silver was dumped. It was
trading near 16.0 when I took over from New York and
fell to 15.68. No reason behind the move. One FX
journalist said Silver is about 10% higher from where it
was when Chinese left. It is quite likely liquidation of
longs.
First economic data release of the day Japan reported
its 14th consecutive current account surplus but machine
orders were weak. UsdJpy is seen struggling around this
120.00. We got to 120.12 post-fixing and backed off to
119-handle. For what its worth, positioning index is
showing leveraged accounts long Jpy.
Good two-way business in AudJpy this morning. It was
bought for fix and then un-liked once demand vanished.
Asians
On the whole, Usd/Asia was slightly firmer for morning
session. We found buyers of UsdSgd out of North Asia
when the pair dipped below 1.4100. Positions for long
UsdSgd greatly reduced; most banks are suggesting
NEER mid-point at about 1.3850-1.3910.
USDCNY fixed at 6.3505 was in line with what traders
were calling for. Shanghai Composite opened and up 3+
pct. Like rest of Asia, USDCNH traded back into 6.35handle.
Short Thb reduced as well when spot UsdThb broke
35.90. The news article in Bangkok Post that Deputy PM
Somkid Jatusripitak said PM Prayuts visit to UN has
been successful and it is now time to woo foreign
investors. This is bullish Thailand but a reminded,
Somkid said the weakening baht has helped Thai
exporters and he has asked the new Bank of Thailand
Governor Veerathai Santiprapob to monitor the baht's
stability.
Intraday support is at 35.90; Usd/Asia sentiment could
push this pair to 36.30.
These information have been obtained or derived from sources believed to be reliable, but I make no representation or warranty as to their accuracy or completeness.
Copyright 2013 The Poon Report by Vincent Poon. All rights reserved.
These information have been obtained or derived from sources believed to be reliable, but I make no representation or warranty as to their accuracy or completeness.
Copyright 2013 The Poon Report by Vincent Poon. All rights reserved.
These information have been obtained or derived from sources believed to be reliable, but I make no representation or warranty as to their accuracy or completeness.
Copyright 2013 The Poon Report by Vincent Poon. All rights reserved.