FX Markets Bracing For Major Event

[LumparChee]

FX Markets Bracing For Major Event

Source: Zerohedge

Last night we noted that OandA will shut-down trading on Sunday ahead of the market-moving events surrounding the Greek election (as it seems they are unwilling to take the agency risk and potentially counterparty risk on a large gap). Nowhere is this more clearly priced into the market than the short-dated FX option market. EURUSD 1 week implied vol is at its greatest premium to realized vol ahead of this weekend than at any time in the last three-and-a-half years. The last time the level of short-dated vol was near this high (in absolute and relative terms) was December 9th 2011 and EURUSD fell 400 pips in the next few days.

 

[god_zeus]

OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Event"

OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Event" this weekend... Are You Awake Yet??

From Oanda
Due to the extreme volatility some market analysts foresee could result in the coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EST until approximately 3:00 PM EST, on Sunday, June 17, 2012. OANDA believes the convergence of a major market event during off-market hours represents a potential trading risk and has taken this rare step to protect traders from excessive rate fluctuations.
Please note that during this halt in trading, you can still access your account details but no trading activity will be accepted. For this reason, OANDA strongly recommends that all traders consider minimizing currency exposures prior to the trading halt.
If you do intend to maintain open positions during this period, be aware that OANDA will hold exchange rates steady during the trading halt. However, when trading resumes, rates will immediately adjust to the current market rate and it is possible that the updated rate could result in a margin closeout if the price has moved significantly against your positions.
Therefore, it is your responsibility to ensure you have adequate funds in your account to prevent a margin closeout.
OANDA apologizes for any inconvenience this may cause.
For more information, please contact a Customer Service representative.
Best regards,
The OANDA team
link: http://www.zerohedge.com/news/due-extreme-volatility-some-market-analysts-foresee

 

[halsey02]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

Greece will revert back to Barter Trading...

 

[QXD]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

Maybe SGs can get maids from Greece.

 

[halsey02]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

Maybe SGs can get maids from Greece.

and her name would be Psyche...who then cause chaos in the homes, & we would need Eros & Aphrodite to restore order...but it is now the "Burmese are coming, the Burmese are coming"...not Greeks!

 

[Froggy]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

Hey this type of news is very scary man. I hope it will not adversely affect Asia.

 

[halsey02]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

Hey this type of news is very scary man. I hope it will not adversely affect Asia.

Don't worry our Ministars are the best on this planet...don't you know? oil, Gold...one command from the MIW's, nothing will shake, slide or rise.

 

[Thick Face Black Heart]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

Maybe SGs can get maids from Greece.

Wooo ... Greek maids! Yummy

 

[Reddog]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Event" this weekend... Are You Awake Yet??

From Oanda
Due to the extreme volatility some market analysts foresee could result in the coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EST until approximately 3:00 PM EST, on Sunday, June 17, 2012. OANDA believes the convergence of a major market event during off-market hours represents a potential trading risk and has taken this rare step to protect traders from excessive rate fluctuations.
Please note that during this halt in trading, you can still access your account details but no trading activity will be accepted. For this reason, OANDA strongly recommends that all traders consider minimizing currency exposures prior to the trading halt.
If you do intend to maintain open positions during this period, be aware that OANDA will hold exchange rates steady during the trading halt. However, when trading resumes, rates will immediately adjust to the current market rate and it is possible that the updated rate could result in a margin closeout if the price has moved significantly against your positions.
Therefore, it is your responsibility to ensure you have adequate funds in your account to prevent a margin closeout.
OANDA apologizes for any inconvenience this may cause.
For more information, please contact a Customer Service representative.
Best regards,
The OANDA team
link: http://www.zerohedge.com/news/due-extreme-volatility-some-market-analysts-foresee

I wonder if my pending "Sell Stop" trade at 1.2500 (EUR/USD) will still be honoured by Oanda. The result of the Greek election on 17th June should be a payday. Oanda is overly protective. Fair ?

Checked with Maybank KE and they are business as usual.

Any brothers here made any money on that beautiful gap early last Monday morning ?

 

[GOD IS MY DOG]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

i think not serious lah.............greek or italian bonds i think..................

but why hundreds of top bankers resigned months ago...............becoz they know this is coming.........


by the way..........i selling little bit of usd/try and usd/inr..............

usd/try the most worth one if looking for positive swap...............pip value very very low so volatile also okay............very good +swap too

 

[Reddog]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

I wonder if pending "stop sell"order for EUR/USD (1.25000) made tonight will be honoured over the weekend to catch that Greek election on 17 June. Oanda is just too kiasi. My CitiFx is still cool.

Any brothers here made some money off that beautiful gap this Monday (11 June) morning ?

 

[pyshock]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

No fear. Recently Temasek Holdings Chief Investment Officer Tan Chong Lee said crisis offers investment openings and Temasek is prepared to make "sizeable" deals topping S$1 billion. You can trust our govt's A Team, can't you?

 

[Froggy]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

Don't worry our Ministars are the best on this planet...don't you know? oil, Gold...one command from the MIW's, nothing will shake, slide or rise.

This is the main reason I worry when shit hits the fan, they will still be in their ivory tower.

 

[Clone]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

EUR/USD gap up to 1.285 come Monday? :o

 

[avelc]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

Keeping an open leveraged position on the Euro over the weekend would be pretty adventurous...

 

[mjb01]

I’m trying to understand how this is some sort of “big event” seeing as all forex trading desks are closed from 4pm Eastern on Fridays until 4pm Eastern on Sundays.

No one can trade during those times anyway.

Look it up. And 400 points in a day in the Forex market is not some sort of major event either.

FX Markets Bracing For Major Event

Source: Zerohedge

Last night we noted that OandA will shut-down trading on Sunday ahead of the market-moving events surrounding the Greek election (as it seems they are unwilling to take the agency risk and potentially counterparty risk on a large gap). Nowhere is this more clearly priced into the market than the short-dated FX option market. EURUSD 1 week implied vol is at its greatest premium to realized vol ahead of this weekend than at any time in the last three-and-a-half years. The last time the level of short-dated vol was near this high (in absolute and relative terms) was December 9th 2011 and EURUSD fell 400 pips in the next few days.

 

[Rogue Trader]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

Maybe SGs can get maids from Greece.

yeah! I love greek women!

there used to be a hot aussie-greek news caster on Ten news called Christina Altiri(??) from perth. she married a singaporean. lucky bastard.

 

[Rogue Trader]

Re: OANDA FX -Trading will be halted June 17 due to expected Global "Major Market Eve

 

[Reddog]

Look it up. And 400 points in a day in the Forex market is not some sort of major event either.

Oh my dear mjb01, 400 points (pips) a day would really make my day. Indeed for me to close shop for a holiday. Ha Ha.

 

[avelc]

Oanda is the only retail forex broker that allows trading over the weekend. The other retail brokers don't.

I’m trying to understand how this is some sort of “big event” seeing as all forex trading desks are closed from 4pm Eastern on Fridays until 4pm Eastern on Sundays.

No one can trade during those times anyway.

Look it up. And 400 points in a day in the Forex market is not some sort of major event either.