USDJPY 108.979 | EURUSD 1.10662 | AUDUSD 0.68844 | NZDUSD 0.6365 | USDCAD 1.31824 | USDCHF 0.99283 | GBPUSD 1.28564 |
LMAX highs and Lows 06.00 GMT
Highs | Lows
EURUSD 1.10729 | 1.10549
USDJPY 108.971 | 108.649
GBPUSD 1.28603 | 1.28375
USDCHF 0.99302 | 0.99212
AUDUSD 0.68852 | 0.68619
USDCAD 1.31970 | 1.31824
NZDUSD 0.63692 | 0.63472
EURCHF 1.09890 | 1.09755
EURGBP 0.86180 | 0.86076
EURJPY 120.603 | 120.147
- GBP: A slow drift lower from the high opening to slowly drift through to the 1.2840 areas and holding around the level through into the grey hour on slow trading, Topside congestion likely to continue with stronger offers through to the 1.3000 area and likely stops on a move through opening the chance of minor gains through to the 1.3050 area before running into stronger congestion and likely slowing the market until 1.3100 is broken with possibility of strong offers around the area. Downside bids likely to be weak through the 1.2900 level with weak stops likely on a move through the level however, any dip is likely to see minor congestion around the 1.2850 level before the market stiffens and becomes more supportive on any move through to the 1.2800 area with possible stops on a move through the 1.2780 areas.
- JPY: Opening around the 108.95 areas and a slow drift through the session through to the 108.70 level with a light push towards the 108.65 lows for the session before holding around the 108.70 area through to the grey hours, Topside offers remain into the 109.00 level with limited resistance to a slight move through the level with increased offers likely to appear in the 109.20-40 areas before weak stops appear and opens the market to increasing congestion on any push through the 109.50 levels and increasing further on any push to the 110.00 level. Downside bids light back through the 108.00 areas with weak stops likely on a dip through the 107.80 area and congestion likely through the 107.50 level and continuing into growing bids in the 107.00 areas.
- AUD: As with the USDJPY a slow drift lower from the opening and possibly a little bit of a drag by the slightly stronger JPY caused the drift, opening around the 0.6885 area the market moved steadily through to the midsession point testing the low 0.6860’s before finding some support and recovering only slightly for the move into the grey hours, Downside bids light through the 68 cents level with weak stops likely on a dip through the 0.6780 level and opening the market to a limited move initially but renewing the downside potential through to the 0.6680-0.6700 level with weak stops likely on a dip through the 0.6670 level with congestive bids then likely to be patchy but centred around the sentimental 50/00 areas, Topside stronger offers likely through to the 0.6950 areas with limited resistance behind the 0.6960 level but increasing on any move towards the 70 cents level through to 0.7020 and stronger stops a possibility opening up further gains for the long term.
- EUR: A similar pattern with the Euro holding around the 1.1070 levels through into Tokyo before drifting lower through the Tokyo session to test through into the mid 1.1050’s before holding around that level through into the grey hours in light trading, Topside offers increasing on a push through to the 1.1170 area and into the 1.1200 area with congestion likely through the level to cancel out any weak stops and opening up a further steady climb into the 1.1240 areas, Downside bids light through to the 1.1080 level where weak stops are likely to appear however, once cleared 1.1060 level sees minor congestion through to 1.1040 before the market starts to become more supportive on any dips towards the 1.1000 levels.
Trump-Xi meeting may be in December
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Actual – A | Consensus – C | Previous – P | Revised R | all timings GMT/UTC
AUD AiG Performance of Construction Index (OCT) A 43.9 | P 42.6
AUD Trade Balance (SEP) A A$7180m | C A$5050m | P A$6617m
0700 CHF UBS Real Estate Bubble Index P 0.78
0700 EUR German IP n.s.a. and w.d.a. YoY (SEP) C -4.3% | P 4.0%
0830 EUR Markit Germany Construction PMI (OCT) P 50.1
0900 EUR ECB Publishes Economic Bulletin
0930 GBP Office for Budget Responsibility publishes updated forecasts
1000 EUR EU Commission Economic Forecasts
1200 GBP BoE Asset Purchase Target (NOV) C 435b | P 435b
1200 GBP BoE Bank rate (NOV 7) C 0.75% | P 0.75%
1200 GBP Inflation Report
1200 MXN CPI YoY (OCT) C 3.0% | P 3.0%
1230 GBP BoE’s Carney speaks at press conference in London
1330 USD Continuing Claims (OCT 26) C 1660k | P 1690k
1330 USD Initial Jobless Claims (NOV 2) C 215k | P 218k
2000 USD Consumer Credit (SEP) C 15.000b | P 17.901b
2330 JPY Labour Cash Earnings YoY (SEP) C 0.1% | P -0.2%
2330 JPY Overall Household spending YoY (SEP) C 7.1% | P 1.0%
2330 JPY Real Cash Earnings YoY (SEP) C -0.3 | P -0.6%
- GBP: Opening around the 1.2885 area the market made a single dip to the 1.2870 level on the Tokyo opening before ranging around the 1.2880 level through to the London session, a tic higher in early London saw the market rise through to the 1.2895 areas before returning again to the 1.2880 level and ranging around the level into the NYK session before another run higher extending just beyond the previous high but still unable to push through to the 1.2900 level before again drifting off and continuing through to the 1.2870 level and eventually pushing through the lows to continue the steady decline to test just through the 1.2850 areas touching through the 1.2845 level before slowly recovering to the 1.2850 and holding the area to the close.
- JPY: Holding the opening 109.15 levels through into the Tokyo saw early sellers appear and the market drift through to the 109.00 levels and held through to pre-London before dipping through the figure level to test towards the 108.90 areas before returning and holding through to the end of London before rising and spiking back towards the opening level and then dropping off quickly through to make the low just above the 108.80 level and struggling through to the close to test the figure level again.
- AUD: A limited range through to late in the day, with the market opening just short of the 69 cents and drifting through to the 0.6890 level on the move into the Tokyo session, the market steadily recovered making light tests through the 69 cents levels before dropping off on early London selling extending the lows to the 0.6885 area before the official opening and a slow recovery this time to push towards the 0.6910 area before holding quietly around the 69 cents are through early NYK then slipping slowly to hold the 0.6890 for several hours, late selling saw the market dip through to the 0.6870 areas before recovering a little to above the 0.6880 level into the close.
- EUR: Quite from the opening then dipping on the move into Tokyo to test through to the upper 1.1060’s before rising slowly through to the 1.1080 level, the market ranged quietly through to the London session and saw a small rally on the move through the Eurozone retail sales number to test lightly above the 1.1090 level holding for a couple of hours but unable to make any more progress and slipping back to the 1.1080 areas for the move into the NYK session, another attempt to push higher again failed above the 1.1090 level and the market then went into a steady decline through to the 1.1070 areas again testing the lows and basing along the 1.1065 area through to the close.
Yesterday’s Premiership results
EUR German Factory Orders n.s.a. YoY (SEP) A -5.4% | C -6.3% | P -6.7%
EUR ECB Vice President Guindos speaks in Frankfurt
EUR Eurozone Retail Sales YoY (SEP) A 3.1% | C 2.4% | P 2.7%
USD MBA Mortgage applications A -0.1% | P 0.6%
USD DOE US Crude Oil Inventories (NOV 1) A 7929k | C 2000k | P 5702k
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