WWM - Analytics

    WWM

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    US Market Open - January 29, 2016

    Overnight events
    • BOJ stuns markets with surprise move to negative interest rates - RTRS
    • USD/JPY initially jumps 2%, later trims gains. 118.38/121.49 range
    • Brent gives up 2.5% early gains and back to flat into NY
    • Kuroda says move aims to forestall risks from oil, China
    • Kuroda: Committed to do whatever it takes to meet price target - RTRS
    • BOJ: CB will cut int rates further into negative territory if judged as necessary
    • EUR/USD plays 1.0950/1.0883 then recovers to 1.0922
    • GBP/USD sold sharply from 1.4413 to 1.4285
    • EUR/CHF notches up another new high at 1.1130 fm 1.1078
    • EZ Dec Money-M3 Annual Growth 4.7% vs prev 5.1%. 5.2% exp
    • EZ Jan Inflation, flash 0.4% y/y vs prev 0.2%. 0.4% exp
    • CH Jan KOF indicator 100.3 vs prev 96.8 rvsd. 96.0 exp
    • Russian CB unch key interest rate at 11%
    • Kremlin spksm: Russia interested in discussing oil mkt with all participants
    • Greece may have positive growth in last 2 Qs of 2016

    Today’s events

    An expiring FX option heading into the New York Cut, if close enough to the strike price, can act as a magnet for selling/buying.                          If the option is large, it can generate enough trading to move the market.   

    Option Expirations10:00 am New York Cut   (Source:ThompsonReuters)
    USD/JPY
    121.00 (1.7B), 120.75 (300M) 120.00 (3.4B) 119.75 (292M) 119.25 (617M) 119.00 (3.3B) 118.80 (530M) EUR/JPY 131.25 (152M)
    EUR/USD 1.0900 (705M), 1.0920 (260M), 1.0925 (335M), 1.0950 (351M), 1.0970 (309M), 1.1000 (1.4B)
    USD/CAD 1.4000 (725M). NZD/USD: 0.6600 (143M), 0.6500 (110M), 0.6400 (243M)
    AUD/USD 0.7150 (208M), 0.7110 (364M), 0.7100 (302M), 0.7085 (100M), 0.7000 (554M)
    GBP/USD 1.4400 (120M), 1.4500 (161M). EUR/GBP: 0.7650 (120M) 

    Today’s Economic Data – (Source:Bloomberg)

    jan29data.png


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