Forex Levels of Note 13 March 2015

Major FX levels of note for today 9th of March 2015, including 1.4bln tipped in USD/JPY at 121.00

AUD/USD
– 0.7700 (565mln

USD/CAD
– 1.2660 (930mln)

EUR/USD
– 1.0600 (321mln), 1.0650 (409mln)

AUD/USD
– 0.7700 (565mln

USD/CAD
– 1.2650-60 (930mln)

EUR/USD
– 1.0600 (321mln), 1.0650 (409mln)

USD/JPY
– 121.00 (1.4bln)

EU Morning Call – 04/03/14

Asia stocks mostly fell following a negative Wall Street close which saw US equities post their worst day since January 30th following weak car sales, position squaring ahead of key risk events and fairly aggressive rhetoric towards Iran from the Israeli President

India’s SENSEX recorded a fresh all-time high, after the RBI unexpectedly cut its Repo and Reverse Repo rates by 25bps to 7.5% and 6.5% respectively

UK BRC Shop Price Index (Feb) Y/Y -1.7% vs. Exp. -1.2% (Prev. -1.3%); 21st consecutive decline. Food prices fell for a second month in a row by 0.4% vs. Prev. fall of 0.5% (RTRS)

Overnight, price action was relatively choppy and largely dictated by the USD-index amid dampened risk appetite ahead of this week’s key risk events. The greenback swung between gains and losses as participants await today’s US ADP employment change release ahead of Friday’s NFP report. AUD was unable to hold on to its modest post-Australia GDP gains (Y/Y 2.5% vs. Exp. 2.5% and Q/Q revised higher), weighed on by unscheduled jaw-boning from RBA’s Edwards. INR strengthened in the wake of the surprise rate cuts from the Reserve Bank of India

U.S President Obama and EU leaders agree to impose significant additional sanctions on Russia if Minsk agreement are seriously violated or separatists seek new territory, according to the White House. (RTRS)

Israeli Prime Minister Benjamin Netanyahu says a bad Iranian deal could lead to war. (CNBC) This comes amid talk that an Iranian nuclear deal could be agreed this week that could see Western powers, headed by the US, lift economic sanctions on Iran.

AUDUSD Morning ‘Supply’ Trade

Supply came in on AUDUSD (circled area), got a nice pullback and squeeze to break the previous session low and go to our LT1 and LT2 targets (127.2 and 141.4 extensions of previous sessions high & low.
18 pips. Not brilliant, but good enough.

AUDUSDM5

The blue horizontal lines are major option levels on AUDUSD at 0.7750 (520 mln) and 0.7800 levels (418 mln)