WorldWideMarkets Community

Forex Trading, Market News & Technical Analysis

US Market Open - January 29, 2016

Posted by Marge Maresca on Jan 29, 2016 7:57:00 AM

Overnight events
• BOJ stuns markets with surprise move to negative interest rates - RTRS
• USD/JPY initially jumps 2%, later trims gains. 118.38/121.49 range
• Brent gives up 2.5% early gains and back to flat into NY
• Kuroda says move aims to forestall risks from oil, China
• Kuroda: Committed to do whatever it takes to meet price target - RTRS
• BOJ: CB will cut int rates further into negative territory if judged as necessary
• EUR/USD plays 1.0950/1.0883 then recovers to 1.0922
• GBP/USD sold sharply from 1.4413 to 1.4285
• EUR/CHF notches up another new high at 1.1130 fm 1.1078
• EZ Dec Money-M3 Annual Growth 4.7% vs prev 5.1%. 5.2% exp
• EZ Jan Inflation, flash 0.4% y/y vs prev 0.2%. 0.4% exp
• CH Jan KOF indicator 100.3 vs prev 96.8 rvsd. 96.0 exp
• Russian CB unch key interest rate at 11%
• Kremlin spksm: Russia interested in discussing oil mkt with all participants
• Greece may have positive growth in last 2 Qs of 2016

Today’s events

An expiring FX option heading into the New York Cut, if close enough to the strike price, can act as a magnet for selling/buying.                          If the option is large, it can generate enough trading to move the market.   

Option Expirations10:00 am New York Cut   (Source:ThompsonReuters)
121.00 (1.7B), 120.75 (300M) 120.00 (3.4B) 119.75 (292M) 119.25 (617M) 119.00 (3.3B) 118.80 (530M) EUR/JPY 131.25 (152M)
1.0900 (705M), 1.0920 (260M), 1.0925 (335M), 1.0950 (351M), 1.0970 (309M), 1.1000 (1.4B)
1.4000 (725M). NZD/USD: 0.6600 (143M), 0.6500 (110M), 0.6400 (243M)
0.7150 (208M), 0.7110 (364M), 0.7100 (302M), 0.7085 (100M), 0.7000 (554M)
1.4400 (120M), 1.4500 (161M). EUR/GBP: 0.7650 (120M) 

Today’s Economic Data – (Source:Bloomberg)



Topics: forex trading, new york session


Tools & Educational Resources

Forex 101LEARN MORE >>
Learn the basics of Forex and how to practice trading the markets.

GlossaryLEARN MORE >>
Confused by the language? Click here and search for key trading terms.

Browse our frequently asked questions and find your answers right away.

Access to the educational lessons, webinars and platform walkthroughs.


Get started with a FREE $10,000 Demo Account and experience the Forex Market RISK FREE!