Today marks a significant day in the forex market as we approach the New York cut, a pivotal time when option expiries can influence currency valuations. Traders and investors are closely monitoring the situation, with substantial amounts set to expire across major currency pairs. Here’s an overview of what to expect:

USD/JPY

The USD/JPY pair sees a wide range of expiries:

• At the 148.00 level, there are options worth 844 million USD.
• A massive 1.46 billion USD at the 147.00 mark.
• 1.08 billion USD at 146.70.
• Between 146.10 and 146.20, we have 627 million USD.
• And a significant 1.31 billion USD at the 146.00 level.
• The list continues with substantial amounts at various levels down to 143.00.

EUR/USD

For the EUR/USD pair, the expiries are equally noteworthy:

• Ranging from 1.1120/30 with 642 million EUR to 1.0780/90 with 843 million EUR.
• The most considerable expiry is at the 1.0990/1.1000 level, holding a significant 2.33 billion EUR.

GBP/USD

• The GBP/USD sees expiries at 1.2730 (508 million GBP) and 1.2600 (655 million GBP).

AUD/USD

• The Australian dollar shows several key levels, with expiries ranging from 0.6840/50 (635 million AUD) to 0.6660/70, where a substantial 1.52 billion AUD is set to expire.

USD/CAD

• The USD/CAD pair isn’t left out, with expiries ranging from 1.3440/50 (1.49 billion USD) to 1.3300/10 (865 million USD).

USD/CHF and USD/CNH

• USD/CHF and USD/CNH also have significant expiries, with notable amounts like 1.25 billion USD at 0.8540/50 for USD/CHF and 1.35 billion USD at 7.17 for USD/CNH.

These expiries can lead to increased volatility and volume, as positions are rolled over or unwound. Traders should be cautious and keep an eye on these levels as they can act as magnets for price action, especially in the hours leading up to the New York cut. Market liquidity around these levels can also be affected, potentially leading to sharp moves.

In conclusion, today’s forex market is braced for some potentially significant movements due to these large option expiries. Whether you’re a day trader, a long-term investor, or just keeping an eye on the market, these levels are worth watching.