Good Morning,
LMAX Close
USDJPY 111.86 | EURUSD 1.12276 | AUDUSD 0.71019 | NZDUSD 0.66467 | USDCAD 1.34231 | USDCHF 1.02015 | GBPUSD 1.2938 |
LMAX highs and Lows 05.00 GMT
                               Highs | Lows
EURUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.12245 | 1.12087
USDJPY Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 111.984 | 111.763
GBPUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.29429 | 1.29299
USDCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.02100 | 1.01985
AUDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â 0.71015 | 0.7028
USDCADÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.34564 | 1.34273
NZDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.68570 | 0.66142
EURCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1.14515 | 1.14414
EURGBPÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.86787 | 0.86658
EURJPY Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 125.604 | 125.301
For Today
- GBP: A quiet move through the Asian session, opening around the 12930 level the market pushed slowly through the 1.2940 level into the Tokyo session but with little conviction before drifting back to hold just above the 1.2930 area for the move into the grey hour, Topside light congestion through the 1.3000 level and sentimental offers only through to the 1.3100 area, stronger congestion increasing into the 1.3140 levels and likely to increase on any push above the 1.3150 level with limited potential for a break through the 1.3200 areas, with stronger offers remaining above the level. downside bids into the 1.2900 areas likely to provide decent support before a break through the 1.2880 level triggering weak stops for a move through to the stronger bids around the 1.2800 level with limited sentimental bids in 1.2850. a push through the 1.2800 area likely to open the downside to a larger move with 1.2760 being the start of the year ranges and limited support.
- JPY: Gyration around the opening level with the market slowly moving into the Tokyo session before dipping a little to the 111.80 areas, weaker Oz helped the USDJPY higher and the market made a solitary move towards the 112.00 levels before drifting back again and triggering some weak selling through the lows to test towards the 111.75 level before returning to the opening levels for the move into the grey hour, Topside offers remain on any push through to the 112.20 with possible weak stops through the level before further offers around the 112.50 level absorb the move and slow the market on any push to the 113.00 level, downside bids light through to the 111.00 area with congestion in the area and through to the 110.50 level before any weakness appears and the 110.00 becomes susceptible to a test with strong congestion on any dips.
- AUD: Opening around the 71 cents levels saw very little movement to the topside and the market drifting through to drop quickly once the Oz CPI numbers were analysed falling back through to the 0.7040 before drifting through to the grey hours unable to find any traction and pushing into the grey hour around the 0.7030 lows. Downside bids through the current lows and likely to increase into the 70 cents level with weak stops then appearing with sentimental bids through the 0.6950 level and likely to leave the downside vulnerable to a larger move with a break of the 69cents level opening the market to the 68 cents level. Topside offers light through to the 71 cents level and the market likely to see weak stops on a push through the 0.7120 area and opening the market to a possible short squeeze and stronger offers into the 0.7180-0.7200 levels.
- EUR: The Euro drifted from the opening with the market eventually basing on the 1.1210 areas and holding quietly in the 1.1215 areas into the grey hour, Topside congestion through the 1.1280-1.1320 level and a solid push towards the 1.1350 level could see weak stops appearing and opening a test through to the 1.1400 area if 1.1360 is pushed through, congestion likely to appear around that 1.1400 areas and stronger offers possibly on a push through towards the 1.1450 level the highs of last month. Downside bids light but congestive through to the 1.1200 level with better bids likely in that area with weak stops on a break below the 1.1180 level opening a test into the 1.1140-60 areas and further congestion then appearing and increasing into the 1.1100 areas.
Overnight News
EUR:
Is Winter coming to the EU project syndicate
USD:
USD hegemony is forcing the world to join Trump’s oil blockade against Iran Telegraph
GBP:
PM May defies security warnings of Ministers and the US to allow Huawei to help build Britain’s 5G network Telegraph
AUD:
NAB joins lending standards crackdown MB
CNY:
Swine flu a crisis for China’s pig industry SMP
NZD:
The new risk to the big four’s NZ dominance – AFR
Today’s Data
Actual A | Consensus C | Previous P | Revised R | all timings GMT/UTC
JPYÂ Â Â Â Â Â Â Â Corporate Service Price Y/Y Mar A 1.10% | C 1.00% | P 1.10%
AUDÂ Â Â Â Â Â CPI Q/Q Q1 A 0.00% | C 0.20% | P 0.50%
AUDÂ Â Â Â Â Â CPI Y/Y Q1 A 1.30% | C 1.50% | P 1.80%
AUDÂ Â Â Â Â Â CPI RBA Trimmed Mean Q/Q Q1 A 0.30% | C 0.40% | P 0.40%
AUDÂ Â Â Â Â Â CPI RBA Trimmed Mean Y/Y Q1 A 1.60% | C 1.70% | P 1.80%
AUDÂ Â Â Â Â Â CPI RBA Weighted Median Q/Q Q1 A 0.10% | C 0.40% | P 0.40%
AUDÂ Â Â Â Â Â CPI RBA Weighted Median Y/Y Q1 A 1.20% | C 1.60% | P 1.70% | R 1.60%
JPYÂ Â Â Â Â Â Â Â All Industry Activity Index M/M Feb A -0.20% | C -0.20% | P -0.20% | R 0.00%
JPYÂ Â Â Â Â Â Â Â Leading Index CI Feb (F) A 97.1 | P 97.4
08:00Â Â Â Â EURÂ Â Â Â Â Â Â German IFO Business Climate Apr C 99.9 | P 99.6
08:00Â Â Â Â EURÂ Â Â Â Â Â Â German IFO Expectations Apr C 96 | P 95.6
08:00Â Â Â Â EURÂ Â Â Â Â Â Â German IFO Current Assessment Apr C 103.6 | P 103.8
08:00Â Â Â Â EURÂ Â Â Â Â Â Â ECB Economic Bulletin
08:30Â Â Â Â GBPÂ Â Â Â Â Â Public Sector Net Borrowing (GBP) Mar C -0.8B | P -0.7B
14:00Â Â Â Â CADÂ Â Â Â Â Â BoC Rate Decision C 1.75% | P 1.75%
14:30Â Â Â Â USDÂ Â Â Â Â Â Crude Oil Inventories P -1.4M
Harry Hindsight
- GBP: A slow range through the Asian session initially holding the opening levels deep into the Tokyo session testing the 1.2975 level a couple of times before moving into the grey hour and a slow rise from the lows in a steady climb through to mid-morning in London testing to the 1.3020 level before dipping away and a slow drift through to the NYK opening, NYK were strong sellers and the market dropped quickly through to the 1.2950 level before finding some limited buying before dipping for the second time with talk in London of May being forced out however, its not a new story but an ongoing saga, the market based along the 1.2930 areas for the rest of the session unable to push back to the 1.2950 area and finishing towards those lows.
- JPY: A very quiet start to the session pushing into the Tokyo testing towards the 112.00 level before quickly falling away with commentary from Maeda and the market testing to the 111.65 level before starting a slow rise through to the opening levels into the grey hour, the market then held around the 111.85 areas for the move into the NYK session pushing quickly from the opening and likely testing through the 112.00 level before dropping steadily back through to the 111.80 and a slow range to the close.
- AUD: A long steady slide lower having made early highs to the 0.7140 area, JPY buying saw the early move lower although the market held the 0.7120 areas initially before slowly edging through the level on the move into the grey hour, holding in early London just above the figure level before moving into the NYK session and slipping to its lows over the first couple of hours in NYK testing the 0.7075 area before a slow recovery to the 71 cents area.
- EUR: Opening just off the 1.1260 highs the market drifted into the Tokyo session with minor selling of EURJPY cross seeing the market pushing below the 1.1250 level but unable to move to far from the level trading into the grey hour around the level, the move through into the London session saw an early test to the highs again but a slow drift from there into the NYK session saw USD buying dropping quickly through to the 1.1210 level holding briefly before dipping through the 1.1200 level to make the lows into the low 1.1190’s before bouncing back above the 1.1210 level and moving quietly through to the end of London before slowly rising through to the mid 1.1220’s for the close.
Yesterday’s Premiership results
CADÂ Â Â Â Â Â Wholesale Trade Sales M/M Feb A 0.30% | C 0.10% | P 0.60% | R 0.40%
USDÂ Â Â Â Â Â House Price Index M/M Feb A 0.30% | C 0.60% | P 0.60%
EURÂ Â Â Â Â Â Â Eurozone Consumer Confidence Apr (A) A -7.9 | C -7 | P -7.2
USDÂ Â Â Â Â Â New Home Sales Mar A 692K | C 647K | P 667K
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