Andy Harrison
Good Morning,
LMAX Close
USDJPY 111.678 | EURUSD 1.12207 | AUDUSD 0.71131 | NZDUSD 0.67598 | USDCAD 1.33597 | USDCHF 0.99986 | GBPUSD 1.30757 |
LMAX highs and Lows 05.00 GMT
                               Highs | Lows
EURUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.12292 | 1.12196
USDJPY Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 111.801 | 111.602
GBPUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.30989 | 1.30682
USDCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.00049 | 0.99951
AUDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â 0.71264 | 0.71087
USDCADÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.33667 | 1.33571
NZDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.67635 | 0.67485
EURCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1.12299 | 1.12193
EURGBPÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.85866 | 0.85694
EURJPY Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 125.495 | 125.246
For Today
- GBP: A very quiet session as the ramblings of Brexit sleep overnight, the market opened rising from the 1.3070 areas to push the 1.3090 level into the grey hours, topside offers weak back through the 1.3100 level with light stops possibly just through the level but congestion then reappearing around the 1.3150 level and increasing into the 1.3200 level, weak stops likely on a break through the level with stronger congestion through the 1.32 handle with particular strength around the 1.3250 area. Downside bids into the 1.3050 areas with congestion continuing on a dip through to stronger bids into the 1.3020-00 level a push through to the 1.2980 level is likely to see stronger stops appearing and weak bids through to the 1.2950 level before the 1.2900 opens to possibly a quick test.
- JPY: The market moved into the Tokyo session rising slowly from the opening around the 111.60 with a quick move higher on the fix to test to the 111.80 areas before dropping back after an hour to hold through to the 111.70 level and the grey hour, Light congestion through to the 110.80 area with possible weak stops through opening the market to the 110.60-40 light congested areas with the market increasing on the bid side into the 110.00 levels with congestion likely to continue through to the 109.80-75 areas before weak stops appear and the market struggles through to the 109.60-30 level likely to slow the market on any dip before weaker bids protest the 109.00 level and stops likely on a dip through the 108.70 levels. Topside congestion likely to increase in size on any move through to the 111.80 level and ultimately strong offers into the 112.00 level with a possible small squeeze through the 112.20 areas and opening a test higher, before running into more congestive offers above the 112.50 area and again increasing in size the higher the market goes.
- AUD: Drifting from the opening the market traded a little lower before AUDJPY demand for the Tokyo fix kicked in and the market quickly pushed off the 0.7105 area to test the 0.7125 level before holding quietly for a couple of hours before slowly pushing to its highs for the move through to the grey hour, downside congestion through to the 71 cents level weak stops likely on a dip through the 0.7080 areas and stronger bids through the 0.7020-00 areas supporting the market for the moment with bigger stops on any dip through the level, topside offers into the 0.7150 level with possible weak stops appearing on a push through the 0.7160 level, higher the market goes from there the stronger the bids become into the 72cents area and stops likely on a push through before congestion and stronger offers reappear.
- EUR: Very quiet session with the market moving in the 1.1220-30 range through to the grey hours holding in midrange, downside bids through the 1.1200 area and through to the 1.1180 level with weak stops on a move through the level possible, congestion starts to appear and likely to be plenty of it on any move through the 1.11 handle and too the 1.1120 levels and stronger bids appearing, topside offers light through to the 1.1280-1.1300 areas with weak stops on any move through the 1.1320 areas to open a quick test to the 1.1350 levels before stronger congestion starts to appear the closer to the 1.1400 you get.
Overnight News
CNY:
China’s Liu conveys message to Trump on behalf of Xi Xinhua
Xi says, he hopes US, China trade teams can continue to make progress on each other’s concerns, Liu says Xinhua
Xi Says two sides have made new and substantive progress on key issues in trade text, Liu says Xinhua
Liu told Trump two sides have reached new consensus on important issues, including on trade deal texts Xinhua
Liu says, two sides will continue to work hard to conclude the trade negotiations as soon as possible Xinhua
EUR:
ECB officials discussed more aggressive stimulus at march policy meeting
Minutes show another forward guidance delay possible BBG
GBP:
Cabinet ministers holding emergency meeting with Theresa May in wake of Labour talks Telegraph
USD:
Fed officials resist rate-cut idea pushed by Trump’s advisers BBG
Trump says we’re getting very close to a trade deal with China, but it is not made
Trump: In next four weeks, maybe more or less it could be announced
Trump: We have a ways to go but not very far
Trump: China trade deal could be within next 4 weeks
Trump: Something very monumental could come soon
Trump: We are rounding the turn on China trade deal
Trump: It’s a terrific thing for China to ban Fentanyl
Trump: Progress on trade talks being made at rapid pace
Today’s Data
Actual A | Consensus C | Previous P | Revised R | all timings GMT/UTC
AUDÂ Â Â Â Â Â AiG Performance of Construction Index Mar A 45.6 | P 43.8
JPYÂ Â Â Â Â Â Â Â Overall Household Spending Y/Y Feb A 1.70% | C 2.00% | P 2.00%
JPYÂ Â Â Â Â Â Â Â Labour Cash Earnings Y/Y Feb A -0.80% | C 0.80% | P 1.20% | -0.60%
JPYÂ Â Â Â Â Â Â Â Leading Index CI Feb (P) A 97.4 | C 97.2 | P 96.5
06:00Â Â Â Â EURÂ Â Â Â Â Â Â German Industrial Production M/M Feb C 0.80% | P -0.80%
07:00Â Â Â Â CHFÂ Â Â Â Â Â Â Foreign Currency Reserves (CHF) Mar P 739B
12:30Â Â Â Â CADÂ Â Â Â Â Â Net Change in Employment Mar C -10.0K | P 55.9K
12:30Â Â Â Â CADÂ Â Â Â Â Â Unemployment Rate Mar C 5.80% | P 5.80%
12:30Â Â Â Â USDÂ Â Â Â Â Â Change in Non-farm Payrolls Mar C 175K | P 20K
12:30Â Â Â Â USDÂ Â Â Â Â Â Unemployment Rate Mar C 3.80% | P 3.80%
12:30Â Â Â Â USDÂ Â Â Â Â Â Average Hourly Earnings M/M Mar C 0.20% | P 0.40%
12:30Â Â Â Â USDÂ Â Â Â Â Â Average Weekly Hours All Employees Mar C 34.5 | P 34.4
Harry Hindsight
Â
- GBP: The market rose a little from the opening after the several votes in parliament and the pushing through to the next stage the bill to block a no deal exit, the market 1.3180 areas before ranging through the session drifting back to the 1.3170 areas, the move into the grey hours saw further buying to the 1.3190 level but was never looking strong enough to push through the offers and started to slide after the first hour of trading in London and slowly pushed through to the 1.3150 level and the NYK session, NYK were steady sellers through to the London close testing steadily through to the 1.3060 areas and based along that area through to the close in a long quiet finish to the day.
- JPY: Opening around the 111.45 areas and ranging through the Asian session in a very narrow range dipping early lows around the 111.38 area and then pushing through to the 111.50 level and defining the range through to the grey hour, London did no better with the range concentrating around the 111.40 areas through to the NYK session before starting to rise a little steadily pushing through to the 111.60 level then holding quietly again in the 111.50-60 before pushing to the highs for the move to the close.
- AUD: The Oz saw early gains rising from the opening around the 0.7115 area to test above the 0.7125 level in the first half of the Tokyo session before dropping back to the opening levels and ranging around those lows through into the London session, early London pushed the market to the 0.7105 areas and only into the NYK session did the market breach the 71 cents level and only just before recovering and making its way slowly to the 0.7120 level before drifting to the close.
- EUR: Rising a little from the opening to push the 1.1250 area holding quietly for several hours before slowly dropping away through the 1.1240 level and ranging through to early London, early London tested a little lower to the opening levels and started a slow drift through to the NYK session before dropping through to the 1.1210 areas to make the lows the market held and the run to the close saw a slow rise to the close.
Yesterday’s Premiership results
EURÂ Â Â Â Â Â Â German Factory Orders M/M Feb A -4.20% | C 0.30% | P -2.60% | R -2.40%
USDÂ Â Â Â Â Â Challenger Job Cuts Y/Y Mar A 0.40% | P 117.20%
EURÂ Â Â Â Â Â Â ECB Monetary Policy Meeting Accounts
USDÂ Â Â Â Â Â Initial Jobless Claims (MAR 30) A 202K | C 215K | P 211K | R 212K
CADÂ Â Â Â Â Â Ivey PMI Mar A 54.3 | C 51.4 | P 50.6
USDÂ Â Â Â Â Â Natural Gas Storage A 23B | P -36B
Any opinions, news, research, analyses, prices or other information contained on this Blog, whether by LMAX, its employees, partners or contributors, does not constitute investment advice nor has it been prepared in accordance with legal requirements designed to promote the independence of investment research. Further, the material contained within this Blog does not contain (and should not be construed as containing) investment advice or an investment recommendation, or an offer of, or solicitation for, a transaction in any financial instrument. Whilst information provided on this Blog may help with your investment research you must consider carefully whether you should make (or refrain from making) investment or other decisions based on what you see without doing further research on the investments you are interested in. Participating in this Blog cannot be a substitute for obtaining advice from an appropriate expert independent adviser who takes into account your circumstances and specific investment needs in selected investments that are appropriate for you. LMAX has not verified the accuracy or basis-in-fact of any claim or statement made by any third parties as comments for every Blog entry.
LMAX will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. No representation or warranty is given as to the accuracy or completeness of the above information. While the material produced in this Blog was obtained from sources deemed to be reliable, LMAX does not provide any guarantees about the reliability of such sources.
Consequently, any person acting on it does so entirely at his or her own risk.
If you currently hold an account with LMAX for the purposes of trading FX and CFD’s, you are encouraged to use a different Username and Password to access the Blog or any other online systems. The Blog is a place to learn, discuss and share information and ideas with Blog followers. It is not a place to slander, use unacceptable language or to promote LMAX or any other FX, Spread Betting and CFD provider and any such postings, excessive or unjust comments and attacks will not be allowed and will be removed from the site immediately.