Risk currency pairs rise,Greek deal is coming
Risk currency pairs as we said yesterday were in key support areas.A Greek deal is coming so they bought the pairs on the cheap.
Except AUDUSD which is pressed most probably by an option expiry that ends tomorrow here is the situation for the other ones we took yesterday.
GBPUSD +153 PIPS Forex scalping target achieved
GBPJPY +204 PIPS Forex scalping target achieved
EURUSD +49 PIPS Forex scalping target achieved
EURJPY 26 PIPS Forex scalping target achieved
In audusd as we read in insider trading there is an option 1.2 bln which press it
From insider trading section
“Having said that, we consider this short-term weakness as probably one of the best buying opportunities of this year before moving significantly higher. A break above the 1.1490 resistance area in the daily chart should be expected for a test of the EMA-200 line at 1.1795,” ING advises.
Two more key points today from our research
First one is about agriculture futures which I feel they will go up in the future
Strong Japanese Demand Increases Corn Sales
May 21, 2015 10:43 AM ET | Includes: CORN, SOYB, WEET
Weekly net corn sales were 812,600 metric tons (MT), a 120% increase from last week and a 38% increase from the prior 10-week average.
Weekly net soybean sales were 165,500 MT, a 21% increase from last week, but a 1% decrease from the prior 10-week average.
Weekly net wheat sales were 74,000 MT, a 35% decrease from last week.
Corn sales increased substantially, more than doubling their total from last week, behind soaring Japanese demand. Soybean sales also increased, but wheat sales decreased. Soybean and wheat exports increased, but corn exports decreased slightly.
Late last week meteorologists from Australia, Japan, and the United States confirmed that an El Nino weather system is currently occurring. Ocean temperatures were recorded at high enough levels to support what is classified as a weak El Nino, but there is still time for it to become more powerful. El Nino weather systems are normally classified by dry weather in Australia and southeastern Asia, and wet conditions in North and South America.
Weekly net corn sales were 812,600 metric tons (MT), a 120% increase from last week and a 38% increase from the prior 10-week average. Increases were reported from Japan, Colombia, South Korea, Taiwan, Mexico, and Peru. Decreases were reported from unknown destinations, Panama, China, Vietnam, and Jamaica. Exports were 1,079,500 MT, a 3% decrease from last week, but a 6% increase from the prior 10-week average. The primary destinations were Mexico, Japan, Colombia, Taiwan, South Korea, and Saudi Arabia.
Weekly net soybean sales were 165,500 MT, a 21% increase from last week, but a 1% decrease from the prior 10-week average. Increases were reported from the Netherlands, Japan, South Korea, and Mexico. Decreases were reported from unknown destinations, Morocco, and Hong Kong. Exports were 270,700 MT, an 8% increase from last week, but a 43% decrease from the prior 10-week average. Primary destinations were the Netherlands, Mexico, Japan, South Korea, and Indonesia.
Weekly net wheat sales were 74,000 MT, a 35% decrease from last week. Increases were reported from Peru, Japan, Singapore, the Dominican Republic, and the United Kingdom. Decreases were reported from unknown destinations, Trinidad and Tobago, Ecuador, and Italy. Exports were 370,000 MT, a 24% increase from last week, but a 13% decrease from the prior 10-week average. Primary destinations were Peru, Mexico, the Philippines, South Korea, Nigeria, Trinidad and Tobago, Japan, and Singapore.
Source: USDA Foreign Agricultural Service
Source: USDA Foreign Agricultural Service
The data for the report was taken from the May 21, 2015 USDA Export Sales report for the week ending May 14, 2015. The information reported is an aggregate of sales and exports data reported to the USDA Foreign Agriculture Service.
Second point from BNPP INSIDER TRADING
USD/JPY: Here Is The Key For High Demand By Japanese Investors – BNPP
21 May 2015 02:57 EDT
BNP Paribas’ conclusion to yesterday’s upside surprise on Japanese Q1 GDP is that risk appetite, including demand for foreign assets, would rise.
“Data out this morning suggests that Japanese portfolio outflows are accelerating. Japanese investors’ net purchases of foreign bonds increased to JPY 1.1 billion for the week beginning May 15, pushing the 4-week moving sum higher,” BNPP adds.
“Demand for foreign equities is slowing in contrast but the increase in bond outflows easily substitutes for this effect,” BNPP notes.
“A key factor for Japanese investors is yield pick-up compared to JGBs. The sharp increase in US and eurozone long-end yields during May is likely a strong incentive for Japanese investors to increase buying,” BNPP argues.
In line with this view, BNPP is bullish USD/JPY, targeting 128 at yearend.