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Bank Recomendations

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Trade Orders 2.12.2008..

Tue, Dec 2 2008, 11:31 GMT
by Benny Menashe

Finotec Group Inc.

[EUR/USD]
Sell interest is tipped at 1.2680, with further supply touted ahead of 1.2700. Buy stops reportedly reside above 1.2700. RH

[EUR/GBP]
Offers are touted at 0.8520 (0.8528 was yesterday"s six-day high). RH

[EUR/CHF]
US banks are buying at 1.5190/1.5200. RP

Some [USD/JPY] stops tripped on early Asia break below 93.00. Bids return however ahead of 92.80. Firmer here and around 93.00 after bounce later. Offering interest ahead of 94.00. Stops above and below 92.80, 92.40. (hi)

[EUR/JPY]
bidding interest ahead of 117.25, stops sub-117.20 and large sub-117.00 and 116.40. Offering interest around 118.50, some stops above 118.60 and larger above 119.00. (hi)

[EUR/USD]
stops sub-1.2575, above 1.2650. (hi)

[GBP/USD]
stops eyed sub-1.4800. Offering interest around 1.4940, stops above 1.4950. (hi)

[AUD/JPY]
stops sub-59.20 tripped early. Talk large Asian sovereign name selling a number of JPY crosses. AUD/JPY up later on short- covering. (hi)

[AUD/USD]
bounces from early lows on [AUD/JPY] buy backs, better data and upbeat RBA. Stops still sub-0.6330 and 0.6300. Bids around 0.6380 absorbed on early wave down. (hi)

Nearby option expirations today include vanilla [USD/JPY] 87.00 (massive), 94.50, 97.00 (massive), 98.15, [EUR/USD] 1.2400, 1.2520,

[AUD/USD] 0.6645 and [USD/CAD] 1.2900 strikes. (hi)

[EUR/GBP]
Well offered above 0.8500; buy stops above 0.8565. JK

[GBP/USD]
Bids seen supporting on dips into the 1.4700"s; offers in the 1.5100-1.5200 area. There are some decent sell-stops below 1.4700. JK

[USD/CAD]
An Asian CB was reportedly on the offer ahead of 1.2500 (ahead of 14:00GMT).

[EUR/GBP]
Sell interest is tipped at 0.8480/90 (0.8484 was last Wednesday"s high).

[USD/CAD]
Offers are touted at 1.2480.

Published on  Tue, Dec 2 2008, 11:35 GMT