Andy Harrison
Good morning,
LMAX Close
USDJPY 113.147 | EURUSD 1.05899 | AUDUSD 0.73349 | NZDUSD 0.70089 | USDCAD 1.35059 | USDCHF 1.01027 | GBPUSD 1.23497 |
Â
LMAX Ranges 6am London time
Highs   Lows
EURUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.06858 | 1.05946
USDJPYÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 112.964 | 111.361
GBPUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.25325 | 1.24604
USDCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.01405 | 1.00796
AUDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â 0.74820 | 0.74341
USDCADÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.35371 | 1.34600
NZDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.70948 | 0.70334
EURCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1.07697 | 1.07349
EURGBPÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.85389 | 0.84945
EURJPYÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 119.800 | 118.844
For today
- EUR: Limited weekend news for the USD saw the Euro rising on uninspiring news in Europe with the new round of Greek bailouts coming up and the vote in Italy starting to attract the worlds media, even so sentiment for the Euro saw the market moving away from the 1.0600 levels and pushing in a tight channel through the 106.50 levels with some weak stops moving through to test the market above the 1.0680 areas before slipping back to the 1.0650-60 areas to range into the grey hours, Topside offers into the 1.0680-1.0700 areas with a push through the 1.0712-20 areas likely to see weak stops and the market quickly pushing into the 1.0740-60 areas where there is possibly stronger offers to be seen, and with little data for the day. Downside bids light through to the 1.0600 levels with light bids with limited stops expected on a test to the stronger 1.0550-00 areas.
- GBP: Opening around the Closing area the market moved off its lows just above the 1.2460 areas and moved slowly higher into the Tokyo session around the 1.2490 levels and then ranging through for several hours in the 1.2470-90 levels before weakness in the USD saw the Cable push steadily through the 1.2500 levels to stall at the 1.2530 areas and running out of steam for a move back towards the 1.2500 levels, Topside offers through the 1.2530-50 levels will see those offers thinning once the market pushes through the 1.2570 areas with limited offers into the 1.2600 level and possible weak stops on the move through. Downside is weak through to the 1.2400 areas with the market likely to see some weak bids increasing on a move through the level and into 1.2350 areas.
- JPY: The move into the Tokyo session saw the USDJPY weaken steadily and the market falling in the first couple of hours of Tokyo back to the 112.00 levels from close to the 113.00 areas , the dip through the level saw some weak stops before the market slipped to the 111.40 levels in some heavy selling before recovering from the lows a little too the 111.80-112.00 for the move into the grey hours, Topside offers limited through the 113.20 areas and possible weak stops on a push through with stronger offers likely on a move towards the 114.00 level with the market with very little news for the day. Downside bids seeing some strength into the 111.00 areas and likely through to the 110.60 areas before any weakness shows, even then though sentimental bids are likely to limit the market to the 110.40 areas and then the 110.00 will open to a test.
- AUD: A weaker USD saw the market lift from the opening 0.7440 areas to push to the 0.7470 areas before hitting some limited offers through to the 0.7480 levels and a quiet range then through to the grey hours, Topside offers from the 0.7480-0.7500 levels with weak stops through the level before stronger offers are likely to appear into the 0.7530 areas onwards with those offers possibly reappearing on a break through the 0.7580 areas. Downside bids light through the 74 cent levels however they are present and a move through the 0.7350 levels will likely see stronger bids appearing in the market.
Overnight News                                                                 Â
CNY:
PBOC’s Yi Says China’s Reserves Are ‘Very Adequate,’ Yuan Stable
China Should Raise Fiscal Deficit to 3.5% From 3%: Sec. Journal
China to Promote Outbound Investment; Prevent Risks: Xinhua
JPY:
Abe Cabinet Public Approval Almost Unchanged at 58%: Nikkei
BOJ to Report 1H Loss for First Time in 4 Years: Kyodo
EUR:
French President’s Office Denies Report of Cabinet Reshuffle
NZD:
Key Says Update Shows NZ Budget Surpluses Start to Get Quite Big
Key Says NZ Budget Surpluses Give Scope for Tax, Family Payments
Today’s data
Actual = A | Consensus = C | Previous = P | Revised = R All timings GMT
09:00Â Â Â Â EURÂ Â Â Â Â Â Â Eurozone M3 Y/Y Oct C 5.00% | P 5.00%
10:00Â Â Â Â EURÂ Â Â Â Â Â Â OECD Economic Outlook
Weekend News
OIL:
Iran Said to Assess Proposal for 1.1m B/d OPEC Collective Cut
Russia Says OPEC Needs Internal Consensus Before It Joins Deal
Saudis Sink Russia Oil Talks as OPEC Deal Hangs in the Balance
CNY:
China Industrial Profits Accelerate as Factory Prices Increase
CNY/HKD:
Hong Kong-Shenzhen Stock-Trading Link to Start on December 5
China Asks 20 Local Authorities to Control Home Prices: Caixin
JPY:
Japan Sets FY2017 Spending Target About 97t Yen: Nikkei
Support for Abe’s Cabinet Rises to 60 Percent, Kyodo Poll Shows
Japanese Cos. May Boost Cap Spending by 8.8% in FY 2016: Nikkei
Japan Ruling Parties to Meet on Diet Session Extension: Mainichi
Fukushima Decommissioning Cost Said More Than JPY20t: Nikkei
Japan to Simplify Alcohol Tax Over Next 10 Years: Asahi
Japan to Spend 200b Yen on PAC-3 Missile Defence: Yomiuri
ZAR:
South Africa Closer to Junk Status as Fitch Cuts Outlook
South Africa Debt/GDP Ratio Accumulating Steadily, Moody’s says
South Africa Says It Notes Concerns Raised by Moody’s, Fitch
GBP:
Carney in Talks on ‘Brexit Buffer’ for U.K. Companies: S. Times
Britons Could Pay for Some EU Benefits after Brexit, Times Says
EUR:
Italy’s Delrio Says Renzi Should Resign If ’No’ Wins: Ansa
Berlusconi Says Ready to Run If ’no’ Wins in Italy Ref: Rai
EC’s Juncker Hopes ‘No’ Won’t Prevail in Italy Referendum: Stampa
ECB’s Coeure Says No Clear Timeline For Greek Bond-Buying in QE
IMF Indecision on Bailout Criticized by Greek Economy Minister
Merkel Warns About Backlash Against Globalization in Podcast
Moscovici Says Now Is Right Time to Discuss Greece Debt: Ethnos
Juncker Expects to Stay at Helm of EU Commission Until 2019
CHF:
Swiss President Expects Immigration Plan Referendum Challenge
Swiss Govt. Faces 2018 Budget Shortfall of CHF1B to CHF1.5B: AZ
NZD:
Decline in NZ Dollar ‘Healthy’ for Exports, English Says: TVNZ
AUD:
Australia to Ease Limits on Foreign Apartment Buyers: AFR
Australian Banks Raise Home Loan Rates, Canstar Says: News.com
TRY:
Erdogan: It’s for Turkey to Decide on Extending Emergency Rule
SGD:
Singapore Requires Layoff Notices From Companies Starting Jan. 1
Harry Hindsight
- EUR: A steady rise through the session with the US market back from Thanksgiving but not in full as some remained away from the market for a long weekend, opening around the 1.0560 levels the market initially dipped back to trade around the 1.0540 levels before starting a steady climb through the Asian session to the 1.0580 areas and then 1.0600 as the market went into the grey hours, London did very little with the market holding around the 1.0600 levels with brief moves above 1.0610 and below 1.0585 but nothing overly major, the move into the NYK session saw the market testing above the 1.0620 areas to post the days highs after a dip in the trade balance numbers, the move to the close was uneventful with the market continuing to move around the 1.0600 levels.
- GBP: Early ranges were limited with the Cable dipping to the 1.2430 levels in early trading only to recover to the opening 1.2450 areas rising a little higher into the grey hours to test above the 1.2470 level, opening in London saw the market test back to make new lows falling only to the 1.2420 areas before finding some support for the market and moving back to test the highs again, the move through into the NYK session failed to break the downside and the market moved to the close pushing the previous highs and pushing to the 1.2480 levels and holding around the 1.2470 levels to the close.
- JPY: Moving into the new session from the Bank holiday in the US the market saw initial buying from the 113.20 levels with the market pushing above the 113.80 levels and although the market hung in the area for a few hours the market eventually started to slip back away from the 114.00 areas then moved into the grey hours ranging in the 113.30-60 levels before strong selling moved in, and the early London session pushed the market back to the 113.00 levels holding briefly until the market pushed to the 112.60 levels the market attempted the downside level a few times through the balance of the day however, it was limited at best and the market struggled around the 113.00 areas through to the close.
- AUD: With USD weakness through the day the Oz was allowed to steadily move higher with the JPY and pushed off the lows just above the 74 cent levels to quickly move through the 0.7410 opening levels and range around the 0.7430 level through to the London opening, London initially bought in the run to the official opening too the 0.7470 areas but unable to push through to the 75 cent levels and slipped back to trade around the 0.7440-50 areas into the NYK session before some weak selling saw the market trading the 0.7430-40 levels to the close.
Friday’s premiership results
Actual = A | Consensus = C | Previous = P | Revised = R All timings GMT
NZDÂ Â Â Â Â Â Trade Balance (NZD) Oct A -846M | C -950M | P -1436M | R -1394M
JPYÂ Â Â Â Â Â Â Â National CPI Core Y/Y Oct A -0.40% | C -0.40% | P -0.50%
JPYÂ Â Â Â Â Â Â Â Tokyo CPI Core Y/Y Nov A -0.40% | C -0.40% | P -0.40%
JPYÂ Â Â Â Â Â Â Â Corporate Service Price Y/Y Oct A 0.50% | C 0.30% | P 0.30% | R 0.20%
GBPÂ Â Â Â Â Â GDP Q/Q Q3 (P) A 0.50% | C 0.50% | P 0.50%
GBPÂ Â Â Â Â Â Index of Services 3M/3M Sep A 0.80% | C 0.80% | P 0.80%
GBPÂ Â Â Â Â Â CBI Realized Sales Nov A 26 | C 12 | P 21
USDÂ Â Â Â Â Â Advance Goods Trade Balance Oct A -62.0B | C -59.2B | P -56.5B
USDÂ Â Â Â Â Â Wholesale Inventories Oct (P) A -0.40% | C 0.30% | P 0.10%
Stay lucky
Andy
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.