Stocks are a sea of red and [EUR/USD], [GBP/USD] are ticking lower in response as the Yen, then the [USD] are to the fore. So they should be where Eur/Usd is concerned and not only should we take out the current day low of 1.2880 but also retest Tue’s Cyprus [...]

March 21, 2013 8:48 am / no comments

CYPRUS

Unless [CYPRUS] agrees on some form of deposit levy & quickly, it risks having its largest banks wound down, which would wipe out uninsured depositors, a [SENIOR EU OFFICIAL] explains (via Reuters). Otherwise, and quite simply, the official says a collapse of Cyprus’ financial sector could force it out of [...]

March 21, 2013 8:27 am / no comments

CYPRUS – GREEK SEQUEL

The stakes may not be anywhere near as high in pure monetary terms, but the issues are the same and it has all the makings of another long, drawn out saga. Despite denials about offering to relinquish his Fin Min role, it really does seem that Sarris has been sent [...]

March 21, 2013 7:21 am / no comments

GBP/USD

Worth noting there is a 1.5200 New York cut expiry in [GBP/USD], albeit in relatively small size. High is 1.5210 so far. The Pound has been a near one cent winner in Europe buoyed by that mega strong UK retail sales result of 2.1% m/m in Feb. The 1.5200/30 offering [...]

March 21, 2013 7:20 am / no comments

EUR/USD & CABLE

It is not just Eur/Usd and 1.29/1.30 and Cyprus that is proving such a source of frustration so far this week in FX trade. [CABLE] and 1.5100 and the UK budget Weds (as well as latest BOE minutes) has clearly been working to pare volatility ahead of these upcoming and [...]

March 19, 2013 7:48 am / no comments