Andy Harrison
Good morning,
LMAX Close
USDJPY 106.34 | EURUSD 1.23047 | AUDUSD 0.77979 | NZDUSD 0.72819 | USDCAD 1.30534 | USDCHF 0.95143 | GBPUSD 1.39362 |
LMAX Highs and Lows 6am GMT
                               High | Low
EURUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.23133 | 1.22949
USDJPYÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 106.365 | 105.847
GBPUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.39395 | 1.39107
USDCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.95179 | 0.95018
AUDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â 0.78000 | 0.77705
USDCADÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.30720 | 1.30484
NZDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.72780 | 0.72411
EURCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1.17111 | 1.16988
EURGBPÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.88390 | 0.88279
EURJPYÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 130.894 | 130.284
For today
- EUR: Opening around the 1.2305 levels the market held quietly through to the Tokyo session eventually dipping through the 1.2300 level to the 1.2295 area before recovering back to the 1.2310 level in a limited session for the Euro, Downside congestion through the 1.2280 levels with weak stops likely on a dip through the level with stronger bids into the 1.2250 areas, with stronger congestion likely through to the 1.2210 levels with weakness likely through the level, topside offers light through to the 1.2400 levels with those offers likely to extend through to the 1.2450 levels with only minor stops on a test through the 1.2420 level, any push beyond the 1.2450 level is likely to see weak stops appearing but plenty offers appearing on any move to the 1.2500.
- GBP: Cable dipped away from the opening around the 1.3940 level with some cross JPY selling moving into the market and cable testing through to the 1.3910 areas before recovering slowly through the session to just below the opening levels, Light bids to the downside into 1.3900 level with congestion through the level and running through to the 1.3850 areas, some weak stops likely through the figure but the congestion likely to absorb the stops, the market is likely to increase into the 1.3800 levels with a stronger bids likely.
- JPY: With fresh news that that previous senior members within MoF were aware of the falsified documentation the market slipped from the opening levels around the 106.30 areas to test through to the 106.00 areas and struggling in that area for a couple of hours before slowly drifting through the level and into the 105.80 as the market struggled to maintain its poise into the grey hours, downside bids into the current levels acting as an early day trading buffer, a push through to the 105.50 level will likely see some stronger bids and the market then struggling to the 105.20 level with the likely appearance of strong bids likely through to the 104.80 areas before strong stops are likely to appear and the market open to a stronger dip lower. Offers through to the 107.00 level are likely to be light with stronger offers into those areas and continuing through to the 107.20 level, some congestion then countering any weak stops through to the 107.50 level with the congestion likely to ease a little to the 107.80 levels and stronger offers.
- AUD: The slow selling through yesterday’s session continued through to the Asian session with the market slipping into the early Tokyo period pushing towards the 0.7770 level before slowly rising back through the session towards the 78 cent levels as the JPY continued strengthen as concern over Abenomics could be threatened. Downside bids congestive through to the 0.7720 level where the market thickens and likely to protect the 77 cent level for the moment, those bids likely to remain unless there is a push through to the 0.7650 areas, topside offers light through to the 78 cent areas with slightly stronger offers and stops possibly through the level
Overnight News
USD:
Foreign buying in US jumps in January, China cuts treasuries
Mueller subpoenas Trump organization, demanding documents about Russia
Trump decides to remove National security adviser, and others may follow
Russian hackers attacking US grid and aviation, FBI warns
JPY:
Suicide not shows Japan officials fear of being blamed for land sale scandal
Mitsuru Ota, head of MoF financial bureau says his predecessor was aware of related documents to the scandal
KRW:
- Korea nuclear reactors show new signs of activity
Today’s data
Actual = A | Consensus = C | Previous = P | Revised = R All timings GMT
NZDÂ Â Â Â Â Â Business NZ Manufacturing PMI Feb A 53.4 | P 55.6 | R 54.4
JPYÂ Â Â Â Â Â Â Â Industrial Production M/M Jan (F) A -6.80% | C -6.60% | P -6.60%
10:00Â Â Â Â EURÂ Â Â Â Â Â Â Eurozone CPI M/M Feb C 0.20% | P -0.90%
10:00Â Â Â Â EURÂ Â Â Â Â Â Â Eurozone CPI Y/Y Feb (F) C 1.20% | P 1.30%
10:00Â Â Â Â EURÂ Â Â Â Â Â Â Eurozone CPI Core Y/Y Feb (F) C Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1.00% | P 1.00%
12:30Â Â Â Â CADÂ Â Â Â Â Â Manufacturing Sales M/M Jan C -0.90% | P -0.30%
12:30Â Â Â Â CADÂ Â Â Â Â Â International Securities Transactions (CAD) Jan P -1.97B
12:30Â Â Â Â USDÂ Â Â Â Â Â Housing Starts Feb C 1.30M | P 1.33M
12:30Â Â Â Â USDÂ Â Â Â Â Â Building Permits Feb C 1.33M | P 1.38M
13:15Â Â Â Â USDÂ Â Â Â Â Â Industrial Production M/M Feb C 0.30% | P -0.10%
13:15Â Â Â Â USDÂ Â Â Â Â Â Capacity Utilization Feb C 77.70% | P 77.50%
14:00Â Â Â Â USDÂ Â Â Â Â Â U. of Mich. Sentiment (Mar P) C 99.3 | P 99.7
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Harry Hindsight
- EUR: A slight rise into the Tokyo session moving from the 1.2365 areas to test towards the 1.2385 areas and holding through to the grey hours, the move through to the London session saw the start of a slow drift lower through the day with no real news out of the European area and moving into the NYK session testing through to the 1.2325 levels, the market held the level for a brief period before again testing lower again with the market eventually testing to the 1.2300 levels and holding to the close.
- GBP: A small slow drift from the opening saw the Cable touch through to the 1.3960 level before finding a little bit of a backbone and edging a little higher through to the grey hours to test through to the 1.3985 areas before ranging into the London session holding the 1.3970-90 levels before dropping quickly as the EU releases a draft text of Brexit treaty with plenty key issues unresolved, Cable dropped to the 1.3920 levels and formed the base for the day with the market moving into the NYK session jumping back to the 1.3985 level before dropping just as quickly in a choppy session through to the close just off the lows.
- JPY: Opening around the 106.30 levels the market dropped quickly into the Tokyo session testing through to the 105.80 levels and forming a base for the day, the market remained in that tight range through the session however, the dips became weaker on each move with the market slowly testing higher through the day with the market pushing through to test the highs late in the day to finish the day on a brighter note having tested through the 106.40 levels and holding 106.30 areas.
- AUD: All change for the day with the market moving quietly through the Asian session holding around the 0.7875 level and barely sneaking through the 0.7885 level however, that was the highs for the day and as the market moved towards the London session the market started to slip lower initially testing into the London opening around the 0.7860 levels and then continuing through the day pushing slowly lower to push through to the close of the day holding around the 78 cent areas on what was a reasonably quiet session for Oz.
Yesterday’s premiership results
NZDÂ Â Â Â Â Â GDP Q/Q Q4 A 0.60% | C 0.80% | P 0.60%
AUDÂ Â Â Â Â Â Consumer Inflation Expectation Mar A 3.70% | P 3.60%
CHFÂ Â Â Â Â Â Â Producer & Import Prices M/M Feb A 0.30% | C 0.20% | P 0.30%
CHFÂ Â Â Â Â Â Â Producer & Import Prices Y/Y Feb A 2.30% | C 0.90% | P 1.80%
CHFÂ Â Â Â Â Â Â SNB Sight Deposit Interest Rate A -0.75% | C -0.75% | P -0.75%
CHFÂ Â Â Â Â Â Â SNB 3-Month Libor Lower Target Range A -1.25% | C -1.25% | P -1.25%
CHFÂ Â Â Â Â Â Â SNB 3-Month Libor Upper Target Range A -0.25% | C -0.25% | P -0.25%
USDÂ Â Â Â Â Â Empire State Manufacturing Mar A 22.5 | C 15 | P 13.1
USDÂ Â Â Â Â Â Import Price Index M/M Feb A 0.40% | C 0.30% | P 1.00% | R 0.80%
USDÂ Â Â Â Â Â Initial Jobless Claims (Mar 10) A 226K | C 228K | P 231K | R 230K
USDÂ Â Â Â Â Â Philadelphia Fed Business Outlook Mar A 22.3 | C 23 | P 25.8
USDÂ Â Â Â Â Â NAHB Housing Market Index Mar A 70 | C 72 | P 72 | R 71
USDÂ Â Â Â Â Â Natural Gas Storage A -93B | C -99B | R -57B
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