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Reuters - 2 days ago

Stand-out FX option strike expiries next week

BUZZ-COMMENT-Stand-out FX option strike expiries next week Sept 6 (Reuters) - The cash hedging of soon-to-expire FX option strikes can have a magnetic effect on FX price action, adding to nearby support/resistance. There are plenty for the week ahead if the anticipated FX volatility from Friday's U.S. jobs data doesn't drive FX from current ranges.
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Reuters - 2 days ago

Sterling holds as pre-payrolls inertia grips markets

Sterling holds as pre-payrolls inertia grips markets LONDON, Sept 6 (Reuters) - The pound trod water on Friday, ahead of U.S. employment data that could intensify volatility later in the day as investors figure out whether the Federal Reserve will be forced to deliver an outsized rate cut this month or not. Sterling GBP=D3 , which is heading for a 0.3% rise against the dollar this week, was trading 0.1% lower on the day at $1.3169. It touched a one-week high of $1.31925 earlier in the day.
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Reuters - 3 days ago

FX options wrap - USD puts and major event risks drive market

BUZZ-FX options wrap - USD puts and major event risks drive market The USD has been under renewed pressure since Wednesday's U.S. jolts data and the market is on high alert for Friday's U.S. jobs data and its potential to sway the U.S. Fed into a 50bps cut on Sept. 18. Overnight expiry now encompasses Friday's jobs report, and the sharp rise in related implied volatility highlights the largest realised volatility risk premium for any jobs data release this year .
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Reuters - 3 days ago

Sterling treads water as dollar braces for US jobs

Sterling treads water as dollar braces for US jobs LONDON, Sept 5(Reuters) - The pound held steady on Thursday, heading for a modest weekly gain versus the dollar, ahead of U.S. employment data that could set the tone for currency markets for the weeks and months ahead. The euro EURGBP=D3 , which hit a one-month low against the pound last week, headed for its firstly weekly rise since early August, up 0.1%.
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Reuters - 4 days ago

FX options wrap - JPY surge, NFP risk, long gamma, CHF puts

BUZZ-FX options wrap - JPY surge, NFP risk, long gamma, CHF puts Risk aversion and JPY gains are driving JPY related implied volatility and its JPY call over put skew higher. USD/JPY 1-month expiry implied volatility from 11.9 to 12.9 this week and 1-month 25 delta risk reversals regaining 2.0 from 1.6 vol premium for downside strikes. JPY call buying has dominated flows, with 140.00 being a popular strike .
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Reuters - 4 days ago

Sterling steady after upbeat UK services sector data

Sterling steady after upbeat UK services sector data Sept 4 (Reuters) - Sterling held steady on Wednesday after a survey showed Britain's services activity grew last month at the fastest pace since April, adding to signs of momentum in the economy. The pound GBP=D3 was flat at $1.3115, hovering near a two-week low touched in the prior session. The currency has eased somewhat after a stunning rally in August that pushed it to its strongest level in more than two years.
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Reuters - 4 days ago

Long gamma helps to contain EUR/USD pre NFP

BUZZ-COMMENT-Long gamma helps to contain EUR/USD pre NFP Sept 4 (Reuters) - The EUR/USD options market is said be long gamma, which can help to explain why EUR/USD spot is trading a very limited range in the mid 1.10's before Friday's key U.S. non-farm payrolls data. Long gamma can be derived from an abundance of vanilla option positions, typically with shorter dated expiries and strikes close to the current spot rate.
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Reuters - 4 days ago

Pound met with the sound of BoE silence, again

BUZZ-COMMENT-Pound met with the sound of BoE silence, again Sept 4 (Reuters) - Sterling traders may be forgiven for wondering if some Bank of England Monetary Policy Committee members have taken a trappist vow of silence when it comes to speaking about monetary policy. Not a word has been heard from any MPC member, bar Governor Andrew Bailey, since BoE Chief Economist Huw Pill's Aug.
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Reuters - 5 days ago

FX options wrap - USD puts, NFP risk, JPY 140, huge euro

BUZZ-FX options wrap - USD puts, NFP risk, JPY 140, huge euro Sept 3 (Reuters) - Broader FX option implied volatility setbacks remain limited ahead of Friday's U.S. jobs data and the strong risk premium for Friday expiries shows a market prepared for FX realised volatility to increase . Shorter dated expiry USD puts have been more sought and demand more premium than USD calls against many currencies.
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Reuters - 5 days ago

Sterling eases after scorching August rally

Sterling eases after scorching August rally LONDON, Sept 3 (Reuters) - The pound eased on Tuesday, edging lower against both the dollar and the euro, as investors booked some profit on sterling's largest monthly rally in 10 months ahead of a key read of the U.S. jobs market later this week. Data on Tuesday showed summery weather in August helped boost UK consumer spending, as shoppers splashed out on food and drink, although this did little to support the pound.
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Reuters - 6 days ago

FX options wrap - Big expiries, NFP storm, directional flip

BUZZ-FX options wrap - Big expiries, NFP storm, directional flip Huge FX option strike expiries and their related cash hedging flows can have more of an impact on FX price action this week, as many traders are side-lined before the U.S. jobs data. Broader implied volatility appears heavy, which reinforces that scenario, although setbacks will remain minimal for options that include the jobs data.
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Reuters - 6 days ago

Sterling drops versus euro, focus on rate outlook

Sterling drops versus euro, focus on rate outlook Sept 2 (Reuters) - Sterling dropped against the euro but was still within striking distance of a one-month high, while rising versus a weakening dollar. The greenback eased but remained close to its highest level in almost two weeks as investors focused on a U.S. jobs report due at the end of this week.
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Reuters - 6 days ago

Stand-out FX option strike expiries this week

BUZZ-COMMENT-Stand-out FX option strike expiries this week Sept 2 (Reuters) - The cash hedging of soon-to-expire FX option strikes can have a magnetic effect on FX price action, adding to nearby support/resistance, and there are plenty for the week ahead. These may have a noticeable bearing on FX trading, with markets potentially sidelined before Friday's key U.S.
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Reuters - 1 week ago

Sterling steady but heads for weekly fall on dollar strength

Sterling steady but heads for weekly fall on dollar strength By Harry Robertson LONDON, Aug 30 (Reuters) - Sterling steadied on Friday but was set to end the week slightly lower after strong U.S. data underpinned the dollar. The pound GBP=D3 was last up 0.1% at $1.3181 yet was set to finish the week down 0.22%. The euro EURGBP=D3 was slightly lower against the pound at 84.05 pence.
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Reuters - 1 week ago

Sterling's stunning rally keeps twitchy currency markets on edge

RPT-ANALYSIS-Sterling's stunning rally keeps twitchy currency markets on edge Repeats Thursday's story without changes Sterling up almost 4% this year vs dollar Momentum could now stall, say analysts Pound vulnerable to carry trade risks and rates views shifting Pound vulnerable to change in interest rate bets, say analysts By Naomi Rovnick LONDON, Aug 29 (Reuters) - Sterling has hit roughly 2-1/2 years highs against the dollar and is flying high versus the euro, in moves analysts warn are under
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Reuters - 1 week ago

Sterling's stunning rally keeps twitchy currency markets on edge

RPT-ANALYSIS-Sterling's stunning rally keeps twitchy currency markets on edge Repeats Thursday's story without changes Sterling up almost 4% this year vs dollar Momentum could now stall, say analysts Pound vulnerable to carry trade risks and rates views shifting Pound vulnerable to change in interest rate bets, say analysts By Naomi Rovnick LONDON, Aug 29 (Reuters) - Sterling has hit roughly 2-1/2 years highs against the dollar and is flying high versus the euro, in moves analysts warn are under
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Reuters - 1 week ago

FX options wrap - FX eruption, EUR topside, short gamma, CNH alert

BUZZ-FX options wrap - FX eruption, EUR topside, short gamma, CNH alert Mild USD recovery/consolidation takes front-end expiry FX option implied volatility off its most recent highs. However, setbacks are proving limited amid the strong demand and high premiums attached to post NFP options - reflecting the importance of this event to the scale of the September 18 U.S.
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Reuters - 1 week ago

Sterling's stunning rally keeps twitchy currency markets on edge

ANALYSIS-Sterling's stunning rally keeps twitchy currency markets on edge Sterling up almost 4% this year vs dollar Momentum could now stall, say analysts Pound vulnerable to carry trade risks and rates views shifting Pound vulnerable to change in interest rate bets, say analysts By Naomi Rovnick LONDON, Aug 29 (Reuters) - Sterling has hit roughly 2-1/2 years highs against the dollar and is flying high versus the euro, in moves analysts warn are underpinned by speculative interest rate bets that
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Reuters - 1 week ago

Sterling hits one-month high vs euro after German, Spanish inflation data

Sterling hits one-month high vs euro after German, Spanish inflation data By Stefano Rebaudo Aug 29 (Reuters) - Sterling hit a one-month high versus the euro after inflation data from Germany and Spain led investors to increase their bets on European Central Bank interest rate cuts. Inflation fell in six important German states in August due to lower energy prices, and dropped to its slowest pace in a year in Spain .
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Reuters - 1 week ago

FX options reveal crucial EUR/USD topside indicators

BUZZ-COMMENT-FX options reveal crucial EUR/USD topside indicators Aug 29 (Reuters) - Forward looking FX options thrive on FX volatility and rapid directional moves, so their price action can reflect the perceived outlook for a currency pair. There have been some changes in the EUR/USD outlook in regard to further gains. FX volatility is an unknown, yet key, part of an FX option premium, so implied volatility is used as a substitute.
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