Andy Harrison
Good morning,
LMAX Close
USDJPY 114.038 | EURUSD 1.13992 | AUDUSD 0.76069 | NZDUSD 0.72773 | USDCAD 1.28902 | USDCHF 0.96569 | GBPUSD 1.2881 |
LMAX Highs and Lows 5am GMT
                               High | Low
EURUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.13978 | 1.1386
USDJPYÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 114.428 | 114.058
GBPUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.28825 | 1.28724
USDCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.96734 | 0.96579
AUDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â 0.76210 | 0.76036
USDCADÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.29025 | 1.28852
NZDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.72728 | 0.72294
EURCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1.10163 | 1.1008
EURGBPÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.88514 | 0.88427
EURJPYÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 130.292 | 129.967
For today
- EUR: Quiet trading session saw the Euro slowly slip back from above the 1.1400 level to test into the 1.1390 area, Topside offers still remain into the 1.1425 level with weak stops likely through the level and then stronger offers as the market moves towards the 1.1440 areas, a break through the 1.1450 level is likely to see stronger stops appearing and offers reappearing into the 1.1480-1.1500 area, downside bids light through the 1.1380 level with possible weak stops appearing on a move through the 1.1370 areas before congestion appears in the market, 1.1300 for the moment sees stronger bids with congestion through the level and while stops on a break of the 1.1275 areas will possibly see stops appearing that congestion is likely to continue through to the 1.1200 levels.
- GBP: Cable traded in a tight range through to the grey hour, opening around the 1.2880 areas and slipping slowly to the 1.2870 areas before recovering to the opening levels into the grey hour, Topside offers light through to the 1.2905 level and limited through the level with stronger offers into the 1.2950 areas and congestion through to the 1.3000 area, with better offers from there onwards with 1.3050 likely to be very strong however, with that in mind a push through the level will likely see strong stops appearing and the market opening to a larger gain, Downside bids likely to be in the 1.2850 areas and congestion likely to continue through to the weak 1.2800 areas with stronger bids then appearing through to the 1.2765 areas, limited congestion on a move through the level and the downside to the 1.2630 area become vulnerable.
- JPY: Opening around the 114.05 levels, the market moved through into the Tokyo session and moving to the 114.25 areas before finding resistance again to the move, the day was quiet overall with the move into the grey hours seeing the market pushing through to the 114.40, Topside offers into the 114.60 areas likely to see some limited stops appearing before stronger offers into the 114.80-115.00 areas with limited congestion until the 115.50 areas and stronger offers and a break opening a fresh attempt to the years highs. Downside bids light into the 113.50 areas and possible weak stops on a move through congestion then to the 113.00 areas with stronger stops if the market can move through the 112.80 areas cleanly.
- AUD: Trading around the opening 0.7605 areas deep into the session, better NAB business confidence saw the market rising to the 0.7620 levels before returning slowly to the 0.7610 as the market drifted through to the grey hour. Topside offers into the 0.7620 areas with possible weak stops on a move through the area and a quick move into the 0.7640 area and congestive offers through to the 0.7660 level and then strengthening offers continuing through to the 77 cent level where stronger offers appear. Downside bids limited down through the 0.7580 areas with congestion through the level and likely to continue down to the 0.7540 areas before stops appear, stronger stops possibly appear through the level however, the move through the 0.7520 to 0.7500 level is likely to be strong.
Overnight News                                                                 Â
USD:
Trump may name Randal Quarles as Feds supervision vice chair
Military plane crashes in Mississippi at least 5 killed
Donald Trump Jr hires lawyer for Russia probes
Fed Williams still sees rate hike, asset unwinding this year
JPY:
Magnitude 5.3 quake hits Southern Japan, no tsunami warning
CNY:
China is said to plug a major hole in its great web firewall
CAD:
Canada wildfires disrupt industry, force 14k from homes
Today’s data
Actual = A | Consensus = C | Previous = P | Revised = R All timings GMT
GBPÂ Â Â Â Â Â BRC Retail Sales Monitor Y/Y Jun A 1.20% | C 0.50% | P -0.40%
JPYÂ Â Â Â Â Â Japan Money Stock M2+CD Y/Y Jun A 3.90% | C 3.90% | P 3.90% | 3.80%
AUDÂ Â Â Â Â Â NAB Business Confidence Jun A 9 | P 7 | R 8
AUDÂ Â Â Â Â Â Home Loans May A 1.00% | C 1.50% | P -1.90%
06:00Â Â Â JPYÂ Â Â Â Â Â Machine Tool Orders Y/Y Jun (P) P 24.50%
12:15Â Â Â CADÂ Â Â Â Â Â Housing Starts Jun C 200K | P 195K
Harry Hindsight
- EUR: Overall a quiet day with the market opening around the 1.1400 level and trading around the level through to the close, early sellers sold the market down to the 1.1390’s before recovering for the move into the Tokyo session, and slowly edging above the figure through to the grey hour, early buyers had limited success after the German trade numbers with investor confidence for the Eurozone helping the market to push through towards the 1.1420 level before falling back steadily through into early morning to press the 1.1380 levels deep into the NYK session, fall in the Labour conditions index saw the USD slip a little and the Euro allowed to make headway to the opening levels, the market closed almost unchanged.
- GBP: Cable moved into the new week pushing slowly up through the 1.2900 levels struggling as the market moved to the grey hours and London, early Europeans gave it a final push through to the 1.2908 areas before the market saw early London quickly selling back to the opening levels, with no data for the day the market relied on usual commentary about Brexit and the market hit the 1.2860 areas before finding some support with a bounce of the level and opening in NYK little changed on the day, NYK followed the same pattern with early sellers then finding some support at the 1.2855 level to bounce back to the opening levels and trading out quietly slightly below the opening areas.
- JPY: Opening around the 113.90 level saw the mark rise to the 114.00 level before holding around the level into the Tokyo session, before rising again to trade through the session around the 114.15 levels, grey hour buying saw the market make its highs as it headed into the London session testing the 114.30 level before drifting back to range quietly through too deep into the NYK session testing back to 114.00 areas and closing just off the level.
- AUD: A very quiet session with the Oz opening around the 76 cent levels and starting a steady climb through the Asian session to the 0.7615 level, holding round the 0.7610 area into the grey hour, early day traders sold the market however, in the great scheme of things the market dropped back to the 0.7590 areas with a brief push below that level before holding quietly through to the end of London and regaining the 76 cent level, the move to the close saw the market slowly push above in quiet trading.
Yesterday’s premiership results
JPYÂ Â Â Â Â Â Â Â Machine Orders M/M May A -3.60% | C 1.70% | P -3.10%
JPYÂ Â Â Â Â Â Â Â Current Account (JPY) May A 1.40T | C 1.63T | P 1.81T
CNYÂ Â Â Â Â Â Â Â CPI Y/Y Jun A 1.50% | C 1.60% | P 1.50%
CNYÂ Â Â Â Â Â Â Â PPI Y/Y Jun A 5.50% | C 5.50% | P 5.50%
JPYÂ Â Â Â Â Â Â Â Eco Watchers Survey Current Jun A 50 | C 49 | P 48.6
EURÂ Â Â Â Â Â Â Â German Trade Balance (EUR) May A 20.3B | C 20.3B | P 19.8B
EURÂ Â Â Â Â Â Â Â Eurozone Sentix Investor Confidence Jul A 28.3 | C 28.1 | P 28.4
USDÂ Â Â Â Â Â Â Â Labour Market Conditions Index Change Jun A 1.5 | P 2.3
Good Luck,
Andy
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