GBP rallies on stronger than expected output data

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• EURCHF: gently does it
• Cable in for decent test around 1.5300
• GBP rallies on stronger than expected output data
• UK manufacturing output feb: m/m +0.8% vs +0.3% exp
• UK industrial output feb: +1.00 % vs +0.3% exp
• UK trade balance feb : GBP -9.416 bln vs -8.55 bln exp
• Coming up at the bottom of the hour: UK trade,manufacturing and industrial data
• Abe advisor Hamada says BOJ has tools to ease further
• Order board: JPY
• Italian wage inflation feb: m/m 0.0% vs +0.1% prev
• Order board: GBPUSD
• Swiss retail sales feb: y/y +2.4% vs +2.0% prev
• Swiss CPI march: m/m +0.2 % vs +0.3% exp
• European equities open higher
• Order board: EURUSD
• USDJPY back below 99.00 also caps EUR
• French trade balance feb: EUR-6.011 vs -5.0 bln exp
• EU’s Rehn says he supports Italian plan to liquidate trade debt
• Nikkei closes unchanged at 13,192.35
• German trade balance feb s/a: EUR + 17.1 bln vs 15 bln exp

EURCHF: gently does it Posted: 09 Apr 2013 02:09 AM PDT I posted my thoughts on this pair on Friday and we’ve since been down to 1.2129. This morning though we’ve seen a gentle rise back up toward 1.2200 and this pair remains a buy-the-dip play. Probably helping EURUSD finding a bit of support too.

Cable in for decent test around 1.5300 Posted: 09 Apr 2013 01:51 AM PDT Given yesterday’s substantial fall and this morning’s holding of the 1.5250 area where I reported good-size bids on the order board we should have a decent battle at these levels More sell orders at 1.5320 and 1.5350. Buyers now lining up at pre-data levels around 1.5280-85 and still at 1.5250. Regular readers will know I continue to back the sellers but I don’t rule out a small rally from here.

GBP rallies on stronger than expected output data Posted: 09 Apr 2013 01:35 AM PDT GBPUSD posted 1.5308 into sell orders between 1.5300-10 currently 1.5286 manufacturing and industrial output better than expected but trade balance worse

UK manufacturing output feb: m/m +0.8% vs +0.3% exp Posted: 09 Apr 2013 01:31 AM PDT -1.5% prev y/y -1.4% vs -1.3% prev

UK industrial output feb: +1.00 % vs +0.3% exp Posted: 09 Apr 2013 01:30 AM PDT -1.2% prev y/y -2.2% vs -3.1% prev reivsed from -2.9%

UK trade balance feb : GBP -9.416 bln vs -8.55 bln exp Posted: 09 Apr 2013 01:30 AM PDT GBP-8.2 bln prev non-eu goods -4.3bln vs -3.65 bln exp  -3.3 bln prev exports falling despite declining pound

Coming up at the bottom of the hour: UK trade,manufacturing and industrial data Posted: 09 Apr 2013 01:22 AM PDT

Abe advisor Hamada says BOJ has tools to ease further Posted: 09 Apr 2013 01:17 AM PDT The Japanese PM’s economic advisor on reuters USDJPY back up to 99.20 says BOJ can increase buying of Jgb’s, Etfs, and J-reits could delay planned sales tax to help boost economy says not so important to achieve 2% inflation as long as economy on right track current usdjpy level positive for japanese economy

Order board: JPY Posted: 09 Apr 2013 01:09 AM PDT USDJPY offers  99.15,99.50,99.65,99.75,100.00 ( stop loss if 100.10 breached ) bids  98.70, 98.50, 98.40,98.20,98.00 (stops below if breached), 97.80 EURJPY offers 129.55,129.70, 129.90,130.00 ( stop loss buying if breached ), 130.30 bids 128.80,128.45,128.00, 127.80,127.50, 127.00

Italian wage inflation feb: m/m 0.0% vs +0.1% prev Posted: 09 Apr 2013 01:00 AM PDT y/y +1.4% vs +1.7% prev

Order board: GBPUSD Posted: 09 Apr 2013 12:26 AM PDT Ahead of the UK data in just over an hour’s time here is what’s currently out there  offers  1.5280, 1.5300, 1.5330,1.5350,1.5365,1.5400 bids 1.5250,1.5240 ( stop loss selling if breached), 1.5215,1.5200,1.5160

Swiss retail sales feb: y/y +2.4% vs +2.0% prev Posted: 09 Apr 2013 12:22 AM PDT jan revised up from 1.9%

Swiss CPI march: m/m +0.2 % vs +0.3% exp Posted: 09 Apr 2013 12:16 AM PDT +0.3% prev y/y  -0.6  % vs  -0.5% exp   -0.3% prev

European equities open higher Posted: 09 Apr 2013 12:07 AM PDT FTSE  +0.6% DAX +0.5% CAC40  +0.7% IBEX +0.7% FTMIB +0.7%

Order board: EURUSD Posted: 08 Apr 2013 11:57 PM PDT offers  1.3060, 1.3070-80,1.3100, 1.3115,1.3130 bids 1.3010,1.3000,1.2990,1.2970,1.2940,1.2900

USDJPY back below 99.00 also caps EUR Posted: 08 Apr 2013 11:51 PM PDT USDJPY contines to give up its gains in early asia after failing to breach 100 and is now trading lower still at 98.93 having chewed its way through bids at 99.10-20. Support now at 98.80 and larger at 98.50 EURJPY down to 128.78 dragging EURUSD lower to 1.3023

French trade balance feb: EUR-6.011 vs -5.0 bln exp Posted: 08 Apr 2013 11:45 PM PDT EUR -5.9 bln prev exports -1.9% m/m imports -0.8% m/m

EU’s Rehn says he supports Italian plan to liquidate trade debt Posted: 08 Apr 2013 11:28 PM PDT EU commisioner for economic and monetary affairs on reuters referring to the Italian govt plan to liquidate trade debt accumulated by public administration says there is room for phased liquidation without endangering sustainable reduction of budget deficit

Nikkei closes unchanged at 13,192.35 Posted: 08 Apr 2013 11:10 PM PDT

German trade balance feb s/a: EUR + 17.1 bln vs 15 bln exp Posted: 08 Apr 2013 11:01 PM PDT EUR 15.6 bln prev revised down from 15.6 bln imports m/m -3.8% vs +0.5% exp  +3.3% prev exports m/m -1.5%  vs 0.0% exp  +1.4% prev weaker than expected imports and exports is not a sign of robust health but expectations will remain that economy will pick up during 2013