European Session: Orders and Options Watch

European Session: Orders and Options Watch

EUR: The single currency remained on the defensive side in part due to risk aversion on falling equities, however, bids from Asian sovereign and Middle East names are still noted at 1.2725-30 and also at 1.2700-10 with more stops placed below next option barrier at 1.2700. On the upside, offers are reported at 1.2790-00 and also at 1.2840-50 with some stops building up above 1.2860-65 as well as 1.2880 (some offers ahead), followed by mixture of offers and stops at 1.2900-10 and bigger stops above 1.2930.

GBP: Although the British pound dropped below this week's low of 1.5657, cable found decent demand below there (for protection of 1.5950 stops) and has recovered. At the moment, mixture of bids and stops remains at 1.5950 with sizeable stops still seen below 1.5940, more stops are placed below 1.5900-10 with some bids expected above there. On the upside, offers are tipped at 1.6000-10 and also at 1.6030-40 with stops building up above 1.6050, more sell orders from various parties are tipped at 1.6090-00 with bigger stops tipped above 1.6100-10.

CHF: The greenback broke above previous resistance at 0.9456 and has maintained a firm undertone but selling interests from European names remain at 0.9470 and further out at 0.9500-10, fresh offers should emerge around 0.9540-50 and further out at 0.9575-80. On the downside, buy orders remain at 0.9410-20 and mixture of bids and stops is located at 0.9375-85, more buying interests are expected at 0.9360-65 with stops reported below 0.9340, 0.9320 and 0.9295-00, mixture of bids and stops orders is expected at 0.9270-80.

JPY: Dollar finally stabilized after yesterday's volatile price actions and near term consolidation should continue. At the moment, bids in good size are still seen at 79.70-75 with sell stops building up below 79.70, combination of bids and stops (sizeable) is seen further out at 79.50, bigger stops are expected below 79.20. On the upside, some light offers are tipped at 80.20 and indicated sell orders remain in the region of 80.40-60 with mixture of offers and stops located at 80.65-75, more stops are placed above 80.85 and 81.00.