Saxo Bank (Saxo Bank)
Currencies  |  September 08, 2010 12:09:16

Volatility of returns, though perhaps only for a short


Before I go to the bedside of nonsense, I can tell you that this morning already seeing quite a good activity for GBPUSD and EURUSD, USDCHF and even looks quite vividly.For GBPUSD, in addition to activation of stop orders at 1.5430, the market took the wind in the sails due to the fact that Vodafone sold its stake in China Mobile and had to repatriate approximately 70% of revenues, which loosely speaking, reflected the need to buy around 3 billion GBP, and it was definitely enough to get GBPUSD and reached even higher levels this morning near 1.5490. Tom would rather (in its frenetic state) leaves this rise and go out looking more on economic fundamentals, which were confirmed by night real estate market data from Halifax bank and expects the publication output of the manufacturing sector, a little later this morning. It seems that the market before this news speculation buys and sells the facts ...

Equally interesting is the trend of EURUSD. Much is now the second day of talks about tomorrow's expiration of a large volume (2 billion) option with a strike price of 1.2600. More fuel to the fire poured even traders in Asia who are involved and buy overnight trades either directly or through intermediaries with the realization prices on the same level. The market clearly something suspect and during the trading day, it may be that getting over the range 1.2730 / 50 will not be easy.

USDCHF has already several times this year falls to new lows, which this time are just below 1.0065, the line in the sand is 1.0070, the convincing break would open the way to parity and beyond for her. Keep a close watch this currency pair, because things can pick up really ugly direction ...

With regard to the published data, we have already mentioned the data from the UK and later in Canada, we expect data on the number of building permits and on the agenda is a decision BOC with an accompanying statement. It would seem that the market today simply to offset the price increase in basic rates by 25 basis points, but for some mysterious reason (which is unclear to me at least) before the publication of traders are a little tense, so far USDCAD strengthened.

In markets that are now happening a lot, so today will be interesting for speculators, in any case I would add a word of warning - the markets will be somewhat uneasy, so be careful.

Veksler, Senior Manager, business consulting, Saxo Bank

 Globální online investiční banka

Saxo Bank je globální investiční banka specializující se na online obchodování a investice na mezinárodních finančních trzích. Saxo Bank umožňuje soukromým investorům a institucionálním klientům obchodovat s FX, CFD, cennými papíry, futures, opcemi a dalšími deriváty a poskytuje i profesionální správu portfolia a fondů díky svým online obchodním platformám oceněným řadou různých ocenění.

Více informací na: www.saxobank.cz

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