European Session: Orders and Options Watch

European Session: Orders and Options Watch

EUR: Despite falling to 1.2718 yesterday, the single currency found decent demand from sovereign names as indicated in our previous update and euro rebounded overnight, however, offers from various parties are still noted at 1.2790-00 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. On the downside, mixtures of bids and stops are located at 1.2715-20 and also at 1.2700-05 (related to option barrier at 1.2700) but fresh demand should emerge further out at 1.2660-70.

GBP: Although the British pound rebounded yesterday on cross-buying in sterling, cable has retreated today in London morning, option related offers are reported from 1.6000 up to 1.6050 (related to 1.6000, 1.6015, 1.6030 and 1.6050 option expires today), stops are building up above 1.6050 and more sell orders from various parties are tipped at 1.6090-00 with bigger stops tipped above 1.6100-10. On the downside, bids from Asian CBs and Middle East names are reported at 1.5960-70 and also in good size at 1.5930, more stops are placed below 1.5900-10 with some bids expected above there.