USDJPY 109.622 | EURUSD 1.11291 | AUDUSD 0.6918 | NZDUSD 0.65087 | USDCAD 1.35004 | USDCHF 1.00794 | GBPUSD 1.26081 |
LMAX highs and Lows 05.00 GMT
Highs | Lows
EURUSD 1.11403 | 1.11259
USDJPY 109.623 | 108.95
GBPUSD 1.26146 | 1.26041
USDCHF 1.00784 | 1.00519
AUDUSD 0.69200 | 0.69017
USDCAD 1.35421 | 1.34937
NZDUSD 0.65139 | 0.65027
EURCHF 1.12182 | 1.11871
EURGBP 0.88326 | 0.8824
EURJPY 122.015 | 121.433
- GBP: A very quiet Asian session for a change, holding around the opening 1.2610 areas through to the grey hour with barely a 10 pip range around the open, , limited congestion through the 1.2700 level and into the 1.2750 area before some sentimental offers appear, a move towards the 1.2800 will likely see some resistance but a mote through the 1.2820 areas is likely to see some weak stops and the market opening through to weak offers around the 1.2850 level and then stronger offers then appearing on any attempt to the 1.2900 areas. Downside bids into the 1.2580 level and congestion likely to continue on any move to the sentimental 1.2550 area, weak stops possibly in the mix on the downside before opening a little on a test to the 1.2500 level and stronger stops likely on a push through the figure level and sentimental levels likely to be the focus for bids.
- JPY: Opening around the 109.60 level and the highs for the session saw the market moving into the Tokyo session testing lower and quickly pushing through the 109.50 area and then drifting a little to test through 109.25 areas through to midsession before dipping a little and holding through to the grey hour, , Downside congestion down to the 109.00 areas, with a break of the 108.80 level likely to trigger weak stops but running into stronger congestion on any dips through to the 108.50 areas and increasing into the 108.00 level. Topside offer into the 110.00 likely to be weak with weak stops possibly opening the market to a quick move through to the 110.50 areas before stronger congestion moves in and increasing into the 111.00 level with strong stops a possibility on a move through.
- AUD: Choppy range even if limited with the market opening around the 0.6910 level and then testing through the 0.6918 to the topside and through towards the 0.6900 repeatedly before settling on the a tight range around the 0.6915 level for the move to the grey hour, Topside offers 0.6940-60 areas and likely increasing through the 0.6980-0.7000 levels, downside bids into the 0.6850 area likely to be more sentimental than anything else, stronger bids into the 0.6800 areas with sentimental values likely to show stronger bids on any push lower.
- EUR: A quiet range basing on the 1.1130 level and pushing for a light test of the 1.1140 level in early Tokyo before slowly returning to the opening level for the move into the grey hour, Downside bids into the 1.1120 level with only a little opening before stronger bids appear through to the 1.1100 areas and likely to continue to the 1.1080 area before weak stops appear and the market opens a little through to the 1.1040 level and better bids reappear for any attempt at the 1.1000 level, topside offers into the 1.1220 area with possibly stronger stops on a push through the level however, above is likely to be congested and any move towards the 1.1300 is likely to be more of a grind through the levels
Trump ploughs ahead with USMCA approval plan as democrats waver – BBG
Pence says he ahs been in ongoing discussions with house speaker Pelosi and trade Rep Lighthizer – RTRs
Salvini ready to end coalition unless 5star plays ball – BBG
China says US needs to address its concerns to reach deal – BBG
China has a rare earth plan ready to go if trade war deepens – BBG
Former Chinese vice commerce minister Wei Jiangue, initiating trade war with China might be the biggest strategic mistake made by the US since WW II or even its founding
Wei Jianguo: Need to prepare for the trade war to spread to geopolitical areas including S. China sea
Huawei repatriating US workers out of China – FT
Trump: US to impose 5% tariff on all goods from Mexico
US to up Mexico tariffs to 25% by Oct 1 if crisis persists
Mexico to substantially stop the illegal inflow of aliens coming through its territory
Mexican deputy foreign minister Seade says right thing would be to respond eye for an eye but we want to build an agreement – RTR’s
Amlo: Wants peace with Trump amid US tariff threat
Amlo: He doesn’t want confrontation and will travel to Washington tomorrow
Seade: There is no justification for Trump to impose tariffs over issues related to immigration
Merkel speech – slams Trump, attacks protectionism, trade war walls of ignorance- BLG
China fully capable to manage risks of small banks – PBoC
China’s debt ratio hits record high as efforts to offset US trade war mean there is not such thing as a free lunch – SMP
China May factory activity shrinks more than expected as exports falter – TWT
Actual – A | Consensus – C | Previous – P | Revised R | all timings GMT/UTC
GBP GfK Consumer Confidence May A -10 | C -12 | P -13
JPY Unemployment Rate Apr A 2.40% | C 2.40% | P 2.50%
JPY Tokyo CPI Core Y/Y May A 1.1% | C 1.20% | P 1.30%
JPY Industrial Production M/M Apr (P) A 0.60% | C 0.20% | P -0.60%
JPY Retail Trade Y/Y Apr A 0.50% | C 1.00% | P 1.00%
CNY Manufacturing PMI May A 49.4 | C 49.9 | P 50.1
CNY Non-manufacturing PMI May A 54.3 | C 54.3 | P 54.3
AUD Private Sector Credit M/M Apr A 0.20% | C 0.30% | P 0.30%
JPY Consumer Confidence Index May A 39.4 | C 40.6 | P 40.4
JPY Housing Starts Y/Y Apr A -5.70% | C -0.80% | P 10.00%
06:00 EUR German Retail Sales M/M Apr C 0.40% | P -0.20%
06:30 CHF Retail Sales Real Y/Y Apr C -0.80% | P -0.70%
08:30 GBP Mortgage Approvals Apr C 64K | P 62K
08:30 GBP Money Supply M4 M/M Apr C 0.40% | P -0.50%
12:00 EUR German CPI M/M May (P) C 0.30% | P 1.00%
12:00 EUR German CPI Y/Y May (P) C 1.60% | P 2.00%
12:30 CAD GDP M/M Mar C 0.30% | P -0.10%
12:30 CAD GDP Y/Y Mar C 1.20% | P 1.10%
12:30 CAD Industrial Product Price M/M Apr P 1.30%
12:30 CAD Raw Materials Price Index M/M Apr P 2.80%
12:30 USD Personal Income Apr C 0.30% | P 0.10%
12:30 USD Personal Spending Apr C 0.20% | P 0.90%
12:30 USD PCE Deflator M/M Apr C 0.30% | P 0.20%
12:30 USD PCE Deflator Y/Y Apr C 1.60% | P 1.50%
12:30 USD PCE Core M/M Apr C 0.20% | P 0.00%
12:30 USD PCE Core Y/Y Apr C 1.60% | P 1.60%
13:45 USD Chicago PMI May C 54 | P 52.6
14:00 USD U. of Mich. Sentiment May (F) C 101 | P 102.4
- GBP: A quiet range through the most of the day with the market opening around the 1.2630 level and holding quietly through the Asian session around that level the move into the grey hour saw the market testing through to the 1.2610 area before bouncing and returning to the previous range around the 1.2630 level and struggling on each push to the 1.2640 areas before drifting through into NYK, NYK were steady sellers and the market picked up speed on a break through the 1.2600 level testing to the 1.2580 level before bouncing and pushing to the 1.2615 level for the London close and ranging around the level to the close.
- JPY: A slow start to the Asian session opening around the 109.55 level, the move into the Tokyo session testing the 109.50 level and holding for a couple of hours before slowly rising through into the London session testing the 109.80 area before stalling and slowly drifting through to the NYK session holding around the 109.65-70 areas, NYK saw early buying pushing for the high of the day testing through to the 109.90 level before drifting off from the highs for a long run through to the opening levels and the close.
- AUD: A limited range through the day with the Asian session slowly rising, opening around the 0.6915 level the market slowly pushed through to the 0.6935 level and ranged above the 0.6930 level through deep into the London session before starting a slow a steady drift lower pausing at the 0.6915 level and then renewing the run to test lightly through the 69 cents level a little and bouncing once the NYK option cut was over and then holding quietly through to the close around the 0.6910 level.
- EUR: Limited choppy session through the day opening around the 1.1135 level and rising lightly to the highs of the day just short of the 1.1145 level and ranging through to the grey hour holding the opening level, the move into the London session saw the market dipping through to the 1.1125 level bouncing off the area and back to the opening level and again pushing through to the highs again and slowly drifting to NYK, NYK selling saw the market dropping quickly through to test through the 1.1120 level this time before holding quietly for a short period then rising back to the opening levels and ranging in the 1.1130-40 area for several hours before drifting to the close to hold around the 1.1130 area just short of the opening level.
Yesterday’s Premiership results
NZD Building Permits M/M Apr A -7.90% | P -6.90% | R -7.40%
AUD Private Capital Expenditure Q1 A -1.70% | C 0.50% | P 2.00% | R 1.30%
AUD Building Approvals M/M Apr A -4.70% | C 0.00% | P -15.50% | R -13.40%
CAD Current Account Balance Q1 A -17.35B | C -17.9B | P -15.5B | R 16.6B
USD GDP Annualized Q/Q Q1 (S) A 3.10% | C 3.10% | P 3.20%
USD GDP Price Index Q1 (S) A 0.80% | C 0.90% | P 0.90%
USD Initial Jobless Claims (MAY 25) A 215K | C 214K | P 211K
USD Advance Goods Trade Balance Apr A -72.1B | C -72.0B | P -71.4B | R -71.9B
USD Wholesale Inventories M/M Apr (P) A 0.70% | C 0.10% | P -0.10%
USD Pending Home Sales M/M Apr A -1.50% | C 0.50% | P 3.80% | R 3.90%
USD Natural Gas Storage A 114B | C 98B | P 100B
USD Crude Oil Inventories A -0.3M | C -0.9M | P 4.7M
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.