US Dollar gains continue

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• US Dollar gains continue
• ForexLive Asian market wrap: Mild risk aversion the only theme
• Nakao meets Nakaso
• Interbank reports still suggest that Gold will struggle above $1800
• Chinese house price rise seen easing
• EUR/USD: Modest bids reported at 1.4390
• EUR/USD, AUD/USD edging lower
• Update: Japan Posts Trade Surplus Again In July; Exports Down
• Feds getting worried about European banks in the US
• Excruciatingly slow again today
• Japan Posts Trade Surplus Again In July; Exports Still Down
• Nikkei opens -0.15%, Kospi flat
• JAPAN DATA: The Ministry of Finance released July….
• AUD/NZD trade still looking ok
• USD/CHF: .8010 the level to watch on topside
• Press: ECB Nowotny Worried Of Low Growth, Low Inflation
• USD/JPY: Heavy orders both sides
• CHF: SNB barking up wrong tree?
• ECB Nowotny: Time is not ripe to decide on tools such as Euro bonds
• ForexLive Asian market open

US Dollar gains continue Posted: In what has been a reverse of the overnight session, the US Dollar continues to reclaim lost ground with EUR/USD back on its lows and AUD/USD down to 1.0480. Stocks are sliding further led by Seoul down 2.6%, Taipei down 2.0%, Sydney and Tokyo just over 1.0%. As I write EUR/USD has just posted a [...]

ForexLive Asian market wrap: Mild risk aversion the only theme Posted: Fed paying more scrutiny to European banks in US- WSJ Regional stockmarkets fall by over 0.5% on average, encouraging some mild risk-aversion Japan posts trade surplus in July ECB Nowotny worried about low growth, low inflation Gold slides by 0.25% to $1790/oz USD/CNY fixed at 6.3942 Very quiet again in Asia with crosses like EUR/JPY [...]

Nakao meets Nakaso Posted: They are no longer watching screens…………..they are now talking. Japan’s Ministry of Finance Nakao met his Bank of Japan counterpart to exchange views on Forex – according to a Reuters headline. USD/JPY is up three or four pips on the news!

Interbank reports still suggest that Gold will struggle above $1800 Posted: The resilience of the Gold bull market is certainly impressive, now back again near all-time highs despite a notable relaxation in the massive risk aversion seen last week Interbank analysts remain of the opinion that central banks are still the big players here and that they are unlikely to be buying again until the market [...]

Chinese house price rise seen easing Posted: Beijing new home prices +1.3% in July YoY (June was +2.2%) Shanghai +1.4% (2.2%)

EUR/USD: Modest bids reported at 1.4390 Posted: First reports of any interest in EUR/USD this morning with talk of decent bids around 1.4390. Sorry but don’t know which direction they’re coming from. Looking at the charts, the market stalled overnight at 1.4515 and the 61.8% retracement of the 1.4325/1.4515 move comes in at 1.4395, so that might be encouraging some buyers.

EUR/USD, AUD/USD edging lower Posted: The going remains very slow and its one of those markets where pairs are moving pip by pip in one direction. EUR/USD is down at 1.4400 after opening near 1.4430 and AUD/USD is also 30 pips off its opening level. Stockmarkets are generally lower by over 0.5% and that seems to be influencing the mild [...]

Update: Japan Posts Trade Surplus Again In July; Exports Down Posted: – Adds Details, Official and Economist Comments Throughout – Japan July Trade Surplus Y72.5 Bln, -90.8% Y/Y – Japan July Trade Surplus MNI Poll Median Forecast: Y50.0 Bln – Japan July Exports -3.3% Y/Y, 5th Drop In Row – Japan July Imports +9.9% Y/Y, 19th Rise In Row – Japan Exports To Asia -2.7% Y/Y, [...]

Feds getting worried about European banks in the US Posted: More from the WSJ-online with the Federal Reserve upping its vigilance of European bank’s operations in the US. (If you can’t read the full article, try putting the headline ‘Fed eyes European banks’ in your search engine)

Excruciatingly slow again today Posted: There have been some very slight movements in the FX market with the USD slightly higher across the board, but it’s very slow going indeed. Off to the sock drawer for some tidying duties I feel.

Japan Posts Trade Surplus Again In July; Exports Still Down Posted: – Japan July Trade Surplus Y72.5 Bln, -90.8% Y/Y – Japan July Trade Surplus MNI Poll Median Forecast: Y50.0 Bln – Japan July Exports -3.3% Y/Y, 5th Drop In Row – Japan July Imports +9.9% Y/Y, 19th Rise In Row – Japan Exports To Asia -2.7% Y/Y, 5th Drop In Row – Japan Exports to [...]

Nikkei opens -0.15%, Kospi flat Posted: Gold is trading at $1791/oz and the FX market is very quiet yet again.

JAPAN DATA: The Ministry of Finance released July…. Posted: JAPAN DATA: The Ministry of Finance released July customs-cleared trade data: - Trade surplus Y72.5 Bln, -90.8% Y/Y - MNI Poll Median Forecast: Y50.0 Bln

AUD/NZD trade still looking ok Posted: As I wrote yesterday, I bought the dip in AUD/NZD on Tuesday to 1.2500 and I’m looking for a reversal in the recent downtrend. Citibank came out with a sell recommendation around the same time. I’m hoping for some consolidation in a broad 1.2480/1.2680 short-term range which will give me the opportunity to build a [...]

USD/CHF: .8010 the level to watch on topside Posted: Yesterday we heard that the big stop-loss orders were starting above .8010, and that was exactly the high in early European trade. This tells me that those in the know knew of large selling interest at that level and so placed their stops above there. My tendency would be to sell rallies towards .8000 with [...]

Press: ECB Nowotny Worried Of Low Growth, Low Inflation Posted: – Can Discuss Eurobonds, Not Time For Decisions Yet FRANKFURT (MNI) – European Central Bank Governing Council member Ewald Nowotny is concerned that the Eurozone may enter a prolonged period of low growth and low inflation, he said in an interview with Austria’s Wirtschaftsblatt published late on Wednesday. Asked whether he is worried about inflation, [...]

USD/JPY: Heavy orders both sides Posted: Corporate offers starting at 77.20 Corporate bids starting at 76.40 through 76.10. Option related bids 76.00-10 Option related stops below 76.00

CHF: SNB barking up wrong tree? Posted: Rather than trying to put a base in EUR/CHF or introducing a peg, the Swiss government pushed the problem of the strong CHF back to the SNB and they’ve taken the path of trying to make the CHF less attractive through lower, and possibly negative interest rates. The market wasn’t buying the CHF for the [...]

ECB Nowotny: Time is not ripe to decide on tools such as Euro bonds Posted: Italy needs time for structural reform Bond buying is for correcting imbalances, not permanent Concerned we may enter Japan-style low growth low inflation (Across Reuters newswires)

ForexLive Asian market open Posted: The CHF was again the mover and instigator overnight but there were also notable moves in cable, which broke above previously solid resistance at 1.6475 and now looks set to retest 1.6745, and in AUD/USD, which broke back into the previous consolidation channel above 1.0500. EUR/USD stalled at Fibo resistance near 1.4515 and USD/JPY forgot [...]