AUD/USD

Quoting KecoaKecil

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{quote} Movement @ this time, with no data release, suggest a foul play.

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Quoting KecoaKecil

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{quote} Movement @ this time, with no data release, suggest a foul play.

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Quoting whackdiddy

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{quote} Nooo.. did you not see this.. Wait until 0.9090 and then go long.. http://www.forexfactory.com/news.php?do=news&id=474772

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Quoting KecoaKecil

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{quote} Movement @ this time, with no data release, suggest a foul play.

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Quoting whackdiddy

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{quote} I find it rather amusing that I get so excited over what 20 pips ish pips depending on the scale you are using to measure pips. I need to go and have a very long and hard look at myself.... Nah I good..

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Quoting whackdiddy

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{quote} Good call on that one. I just took a -500 dollar hit on USDJPY... So did a martingale trade... doubled my position on a long.. 2.0 lots..

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Quoting aviz12

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AUDUSD is buy in Dips Opportunity, chances for 200-300 Pips rise, than down side..

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Quoting whackdiddy

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0.89865 next major resistance level to break for further downside. Seen on the H4 and represented by the Senkou Span. Entered long @ 0.89894 for small retrace opportunity.

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Quoting whackdiddy

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0.89865 next major resistance level to break for further downside. Seen on the H4 and represented by the Senkou Span. Entered long @ 0.89894 for small retrace opportunity.

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Quoting Larshw

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{quote} May I ask what, if any indicators you use? Historic SR areas, fibs or just PA? You seem to be quite "adament" on S&Rs...

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Quoting fxtyrant

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{quote} You mean Support? support are levels that keeps currency from moving down and the fact you say to break below means it is a Support you expect wouldnt hold. becareful not to mix up with Resistance and Support resistances are levels above price, and Support are levels below price

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COMMODITIES-COPPER AT 7-MTH LOW ON CHINA DEFAULT; OIL, COFFEE, SOY UP - RTRS
07-Mar-2014 23:53
(Reuters is considering dropping the daily commodities wrap after March 10 and publishing the report on a discretionary basis. Please send any comments on this move to Josephine Mason at [email protected])
By Barani Krishnan
NEW YORK, March 7 (Reuters) - Copper tumbled 4 percent to a seven-month low on Friday while silver and aluminum lost more than 1 percent each after the first bond default by top metals buyer China sparked global growth concerns.
Gold XAU= gave back virtually all of its 1 percent gain from the previous session after its safe-haven allure was dimmed by surprisingly resilient U.S. jobs data for February. GOL/
U.S. crude oil CLc1 rose 1 percent on talk of fewer oil rail shipments from the booming Bakken shale in North Dakota. The positive U.S. jobs data was another factor that helped support oil, which ended the week flat after gains in seven previous weeks. O/R
Arabica coffee and soybeans had long running weekly gains too.
Arabica KCc2 rose 0.7 percent for the session and 9 percent for the week to end with a sixth straight week of gains. It was the market's biggest six-week rally in nearly 20 years. SOF/L
Soybeans Sc1 rose 1.4 percent to a six-month high as traders adjusted positions ahead of a monthly U.S. government report that was expected to show tighter U.S. soy stockpiles and smaller South American crops. It was also the fifth straight weekly advance for soybeans. GRA/
The Thomson Reuters/Core Commodity CRB Index .TRJCRB, a closely watched commodity price indicator, settled down 0.1 percent on the day after losses in 10 of the 19 markets it tracked. For the week, the CRB was up 1.6 percent.
Aside from copper CMCU3, silver XAG= and aluminum CMAL3, markets that lost about or more than 1 percent in Friday's session were raw sugar SBc1, corn Cc1 and nickel CMNI3. MET/L

(Editing by Lisa Shumaker)
(([email protected])(+1 646 223 6192)(Reuters Messaging: [email protected]))

Keywords: MARKETS COMMODITIES

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UPDATE 2-CHINESE BOND DEFAULTS SHAKE GLOBAL COPPER MARKET CMCU3 SCFCV1 - RTRS
11-Mar-2014 17:36

1. Financing demand for copper ebbs on credit fears
2. Up to 80 pct of copper imports could be for financing demand
3. Oil, equities unscathed by bond default

(Adds second default, details, comments, link to column)
By Melanie Burton and Susan Thomas
SYDNEY/LONDON, March 11 (Reuters) - China's first domestic bond defaults have shaken the foundations of the copper market, stoking investor worries that financing deals that have locked up vast quantities of copper could unravel.
This anxiety has led to three days of heavy selling in copper, while having little noticeable effect on other global financial markets.
The Shanghai Futures Exchange's most-traded copper contract SCFcv1 reached its lowest level in more than four years on Tuesday, and the London copper benchmark CMCU3 fell to its lowest in more than three years later in the day.
"A lot of that is linked to the financing deals and you start to wonder are they at risk, and I think that is what the market is indeed worried about, and that's why copper has taken the brunt," BNP Paribas analyst Stephen Briggs said.
The default on a bond payment by China's Chaori Solar last week signalled a reassessment of credit risk in a market where even high-yielding debt had been seen as carrying an implicit state guarantee. On Tuesday, a second solar company announced a default, confirming the policy shift.
The metals markets saw the defaults as a sign of tighter credit to come for users of metals and for financiers that have used the metal as collateral for borrowing, analysts said.
If their loans are not renewed and financing deals start to unravel, the investors could unload their metal supplies on to the market.
Similar financing deals are in place using metals such as zinc and iron ore, but copper has been the preferred choice for the Chinese trade and finance community.
"If there are worries in a general sense about financial conditions in China, copper is perhaps more exposed to that than other metals, because we've seen a substantial rise in inventories in China this year," Briggs said.
Some analysts and traders estimated that 60 to 80 percent of China's copper imports in recent years may have been used as collateral, although none of them could give a definitive figure for how much copper is now tied up in deals.
The mainland's imports of copper products hit a record 536,000 tonnes in January, up 53 percent year on year, customs data showed. The inflow slowed in February to 379,000 tonnes but was still higher than in February 2013.

NO REAL DEMAND
Copper stocks in warehouses monitored by the Shanghai Futures Exchange are bulging, up 65 percent since early January to around 200,000 tonnes CU-STX-SGH.
Another 745,000 tonnes of the metal is held in bonded warehouses, minerals consultancy CRU estimated. No official figures are available.
"Given rising inventories, a negative arbitrage and a seemingly soft post-Lunar New Year increase in activity, we doubt that real demand lies behind the strong copper numbers," Credit Suisse said in a research note.
Benchmark Shanghai and London Metal Exchange copper prices have been falling steadily this year mostly because of tepid economic growth in China, which accounts for more than 40 percent of global demand for the metal.
But after the sharp price drops in recent days following the bond defaults, would-be importers in China are finding it tough to get credit.
"Right now it is very difficult for clients to issue an LC (letter of credit) to import copper because the bank loan is very tight. Also if you import the copper in China, you will lose a lot of money," one trader in Singapore said.
A lot of the money raised in the financing deals has been invested in China's real estate market.
But the falling yuan and China's cooling property prices have already started to eat into profits of some financing deals, analysts said. The yuan CNY= fell by 1.42 percent from mid-February to March 5, when it hit its lowest in more than six months. It has since pared some of the losses.
Some economists say that by letting interest rates fall and simultaneously forcing the yuan down, Beijing is conducting a short-term attack on speculators, who have been pouring money into China to cash in on a rising yuan and high yields on debt. (Full Story)
"People appear to be worried that China is getting real about credit and that in such an environment, industrial demand growth for copper will be less," said an analyst at a global commodity trading house who declined to be named.
"With slower demand growth and possible liquidation of surplus metal units from financial arrangements, people are worried about the short-term demand outlook for copper."

(Additional reporting by Polly Yam in HONG KONG, Fayen Wong in SHANGHAI and Manolo Serapio Jr in SINGAPORE; Editing by Muralikumar Anantharaman and Jane Baird) (([email protected])(+612 9373 1803)(Reuters Messaging: [email protected]))

Keywords: CHINA COPPER/FINANCING

Quoting whackdiddy

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I have one thing to say... Okay of course I have more to say... That is a sweet report Tyrant, is that emailed to you or from their site?

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Quoting fxtyrant

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{quote} Im subscribed to Thomson Reuter's Eikon platform. i use that platform for Live News feed on the market both Forex related and macro economic related.

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Quoting Neqrotik

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{quote} Very nice. I actually tried to sign up as per (Jeremy) cant remember the full name he is on that too. Anyway TR told me to take a hike.

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