Andy Harrison
Good morning,
LMAX Close
USDJPY 112.134 | EURUSD 1.05615 | AUDUSD 0.76702 | NZDUSD 0.71968 | USDCAD 1.30981 | USDCHF 1.00771 | GBPUSD 1.24641 |
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LMAX Ranges 6am London time
Highs   Lows
EURUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.05752 | 1.05519
USDJPYÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 112.318 | 111.923
GBPUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.24698 | 1.23923
AUDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â 0.77079 | 0.7663
USDCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.00890 | 1.00687
USDCADÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.31227 | 1.30948
NZDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.72098 | 0.71874
EURGBPÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.85199 | 0.8474
EURCHF Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1.06511 | 1.06416
EURJPYÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 118.635 | 118.244
For today
- EUR: Opening around the Friday close the market drifted on thin volume through to the Tokyo session being dragged a little lower after the weekend news, Le Pen poll, Netherlands inquiry and other titbits however, the market into the Tokyo opening recovered from the 1.0550’s to move back to the opening levels and push through steadily to test the 1.0575 levels, the market drifted back through the session to the opening 1.0565 areas and held quietly around the areas into the grey hours. Limited bids through the 1.0550 areas with increasing bids into the 1.0500, a push through the 1.0480 level is likely to see weak stops appearing and the market then open to a larger move with some limited bids around the 1.0450 level and stronger towards the 1.0400 areas, Topside offers into the 1.0600 level with light congestion through to the 1.0660 areas before some limited stops and the market opening a little to the stronger 1.0700 areas.
- GBP: Cable opened around the 1.2470 areas with the first hour quiet and holding the level, the news that SNP’s Sturgeon will again attempt a neverendum (referendum repeated) for independence from the UK, which given the musings of some in Europe looking to divide and conquer however, as with before the chances are that those voters have just as much interest about being in Europe as their namesakes in the rest of the UK. Cable quickly dropped in a thin market on the news to the 1.2390 areas before Tokyo moved in and took the market back to the 1.2420 areas and then a slow range between 1.2420-30 through to the grey hours. Congested through towards the 1.2500 levels with better offers around the level before running the similar congestive levels through the 1.2550 areas with a break here likely to see some stops appearing and the market then limited until 1.2600 levels, Downside bids into the 1.2400 areas with possible stops appearing quickly below the level and the market opening to the 1.2350 areas with better bids likely, a push through will likely see stronger bids appearing on a move to the 1.2300 level.
- JPY: Moving through to the 112.30 levels on some limited USD strength as the GBP and Euro dipped on weekend news, as the market moved in towards the Tokyo opening the USDJPY started to drift back to the opening 112.15 areas and then dropped to the 111.95 bouncing a little before settling around the 112.00 areas, moving through to midsession saw the market moving back to range in the 112.10-35 levels through to the grey hours in quiet trading. Bids through the 112.00 level and then likely weak stops on a drop through the 111.80 areas, the market is likely to see limited bids through to the 111.20 areas and possible decent bids. Topside offers light around the 112.50 areas with the market possibly increasing offers into the 113.00 levels with possible strong congestion through the 113.50 area.
- AUD: The Oz Opened a little higher slipped lower as the market filled the gap on the charts before lifting off the 0.7665 areas to steadily rise through to the 0.7690 areas, a squeeze through the 77 cent level saw the market struggle above the 0.7705 and quickly dip back to run along the 0.7690 areas into the grey hours. Topside offers above the highs continue through to the 0.7740 level and likely to increase with limited stops on a move through the level possibly absorbed by natural selling, downside bids limited through to the 0.7660 areas with congestion likely to continue through to the 0.7620 stronger bids through to the 76 cent levels and possibly lower.
Overnight News                                                                 Â
GBP:
U.K. Said to Prepare For New Scottish Independence Vote: Times
U.K. Services Firms Plan to Increase Prices by Most in a Decade
EUR:
Weidmann Says Too Soon to Call Inflation Pickup Sustainable: SRF
NZD:
N.Z. Posts Biggest Monthly Net Immigration Gain on Record
AUD:
Australian 4Q Company Profits Rise 20.1% Q/Q; Est. 8% Gain
MXN:
Carstens Sees Mexico Inflation Slower, Stabilizing: Notimex
Today’s data
Actual = A | Consensus = C | Previous = P | Revised = R All timings GMT
AUDÂ Â Â Â Â Â Company Operating Profit Q/Q Q4 A 20.10% | C 8.00% | P 1.00% | R 1.50%
09:00Â Â Â Â EURÂ Â Â Â Â Â Â Eurozone M3 Y/Y Jan C 4.80% | P 5.00%
10:00Â Â Â Â EURÂ Â Â Â Â Â Â Eurozone Business Climate Indicator Feb C 0.79 | P 0.77
10:00Â Â Â Â EURÂ Â Â Â Â Â Â Eurozone Economic Confidence Feb C 108.1 | P 107.9
10:00Â Â Â Â EURÂ Â Â Â Â Â Â Eurozone Industrial Confidence Feb C 1 | P 0.8
10:00Â Â Â Â EURÂ Â Â Â Â Â Â Eurozone Services Confidence Feb C 13.3 | P 12.9
10:00Â Â Â Â EURÂ Â Â Â Â Â Â Eurozone Consumer Confidence Feb (F) C -6.2 | P -6.2
13:30Â Â Â Â USDÂ Â Â Â Â Â Durable Goods Orders Jan (P) C 1.90% | P -0.50%
13:30Â Â Â Â USDÂ Â Â Â Â Â Durables Ex Transportation Jan (P) C 0.50% | P 0.50%
15:00Â Â Â Â USDÂ Â Â Â Â Â Pending Home Sales M/M Jan C 0.90% | P 1.60%
Weekend News
EUR:
Merkel Opens Attack on Election Challenger Over Economic Policy
Le Pen Associate Under Investigation for Campaign Funding: AFP
Netherlands to Hold Inquiry on Whether to Ditch Euro: Telegraph
Weidmann Says Provisions Needed for Policy Normalization: FAS
Brexit to Devastate EU Budget, Commission Official Tells L’Echo
EUR/USD:
Hollande Asks Trump Not to Speak Mistrustfully of France: AFP
USD:
White House Denies Access to Briefing to NYT, Politico, CNN
Trump Says He Won’t Attend White House Correspondents Dinner
Mnuchin Says President Trump Looking at ‘Reciprocal Tax’: Fox
Trump: Media Hasn’t Reported National Debt Down $12b in 1st Mo.
Planned U.S., N.Korea Talks Scuttled After Visa Withdrawal: WSJ
CNY:
CSRC’s Liu Says China Will Increase Number of Listed Companies
PBOC to Create Favorable Environment for Intl Bond Investors
JPY:
Japan Taking Steps to Ease Foreigner Real Estate Deals: Sankei
Japan Govt. Said Near Northern Territories Proposal: Nikkei
EUR/GBP:
Banks near Decision on Post-Brexit EU Hubs: Boersen-Zeitung
GBP:
BOE’s Shafik Warns against U.K. Regulation Rollback: Telegraph
AUD/IDR:
Australia, Indonesia Agree to Restore Full Military Ties
Yesterday’s premiership results
09:30Â Â Â Â GBPÂ Â Â Â Â Â BBA Mortgage Approvals Jan A 44.7K | C 41.9K | P 43.2K | R 43.6K
13:30Â Â Â Â CADÂ Â Â Â Â Â CPI M/M Jan A 0.90% | C 0.30% | P -0.20%
13:30Â Â Â Â CADÂ Â Â Â Â Â CPI Y/Y Jan A 2.10% | C 1.60% | P 1.50%
13:30Â Â Â Â CADÂ Â Â Â Â Â BoC CPI Core M/M Jan A 0.50% | C -0.10% | P -0.30%
13:30Â Â Â Â CADÂ Â Â Â Â Â BoC CPI Core Y/Y Jan A 1.70% | P 1.60%
15:00Â Â Â Â USDÂ Â Â Â Â Â New Home Sales Jan A 555K | C 575K | P 536K | R 535K
15:00Â Â Â Â USDÂ Â Â Â Â Â U. of Michigan Confidence Feb (F) A 96.3 | C 96 | P 95.7
Stay lucky
Andy
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