Andy Harrison
Good morning,
LMAX Close
USDJPY 106.436 | EURUSD 1.23006 | AUDUSD 0.76786 | NZDUSD 0.72291 | USDCAD 1.28851 | USDCHF 0.95653 | GBPUSD 1.40192 |
LMAX Highs and Lows 6am GMT
                               High | Low
EURUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.23188 | 1.22898
USDJPYÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 106.549 | 106.143
GBPUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.40362 | 1.40117
USDCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.95652 | 0.95366
AUDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â 0.76875 | 0.76721
USDCADÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.28950 | 1.28852
NZDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.72382 | 0.72215
EURCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1.17684 | 1.17396
EURGBPÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.87802 | 0.87651
EURJPYÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 131.120 | 130.606
For today
- EUR: With most of the markets closed for the day the market traded quietly through to the Tokyo session dipping to the 1.2290 levels on a dip lower before rising slowly through towards the 1.2320 levels before holding quietly into the grey hour and the bank holiday London session, congestion through to the 1.2240 levels before any decent stops appear however, given the bank holidays the market is likely to struggle for momentum, through the level the market is likely to find stronger sentimental bids into the 1.2200 areas. Topside offers from the 1.2360 level is likely to grow a little into the 1.2400 areas, with stronger congestion above the level and limiting any moves for the day, a push through the 1.2460 level will only see stronger offers moving into the 1.2500 areas.
- GBP: Very quiet for the Cable with limited movement, opening around the 1.4020 areas the market quickly pushed above the 1.4030 levels before holding quietly through into Tokyo, limited selling in Tokyo dropped the market back to the 1.4015 areas before pushing back to hold 1.4030-35 into the London session. Topside offers light through to the 1.4100 level with weak stops through the 1.4115 areas before weak stops appear however, from there the market is likely to see sufficient congestion to contain the market for a bank holiday Friday, downside bids into the 1.4000 likely to limit the market to some degree with stronger bids likely to appear on any attempt at the 1.3950 levels.
- JPY: USDJPY opened quietly and lifted a little through the 106.50 areas before slipping back and dropping quickly back to the 106.15 levels on Trumps comments, the market stabilized in a limited market saw the market quickly rally back to recover some of the loses but the market was limited and jumpy in this narrow range. Light bids to the downside and through the 106.00 areas with stronger congestion into the 105.50 level before opening the market to another run into the 105.00 levels and strong congestion from then on. Topside offers light through to the 107.00 levels with some stronger offers into that level and no stops expected until through the 107.30 areas and the highs of the month.
- AUD: Very quiet session for the Oz it being a bank holiday and no Sydney market, ranging from the 0.7675-90 levels through to London. Downside bids into the lows of the year around the 0.7640 level with possible weak stops through the level and then a return to congestive bids into and through the 76 cent level. Topside offers into the 77 cent level light and possibly weak enough to be pushed through on a normal day, any push through will see congestion continuing and increasing beyond the 0.7740 levels.
Overnight News
KRW:
North and South set summit, but nuclear omissions casts a shadow
USD:
FED’s Harker, seeing stronger inflation, lifts his outlook for interest rates
Trump says he might hold up S. Korea trade talks until N. Korea resolved
Walmart in early stage acquisition talks with Humana
CNY/CAD:
China should punish “US colony†Canada over possible regulations from Ottawa against dumping ali and steel
JPY:
Japan fund managers cut their exposure to stocks in March
Today’s data
Actual = A | Consensus = C | Previous = P | Revised = R All timings GMT
JPYÂ Â Â Â Â Â Â Â Jobless Rate Feb A 2.50% | C 2.60% | P 2.40%
JPYÂ Â Â Â Â Â Â Â Tokyo CPI Core Y/Y Mar A 0.80% | C 0.90% | P 0.90%
JPYÂ Â Â Â Â Â Â Â Industrial Production M/M Feb (P) A 4.10% | C 5.00% | P -6.80%
JPYÂ Â Â Â Â Â Â Â Housing Starts Y/Y Feb A -2.60% | C -4.20% | P -13.20%Â
Â
Harry Hindsight
- EUR: Opening around the 1.2310 areas the market limped into the Tokyo session testing towards the 1.2300 areas before making a steady rise through to just above the 1.2330 level to make the highs for the day, the move into the London session saw the lows again tested sneaking through the figure level several times but with limited success, the failure saw the market moving a little quicker to the highs and tested into the NYK session to the same level before rejecting that level and falling back to the figure level again however, there was enough impetus this time to see the market through to the 1.2285 levels before holding on the London close and moving slowly back to the figure level and holding quietly through to the close.
- GBP: Opening around the 1.4080 levels the market dipped into the Tokyo session through to the 1.4060 before starting a steady rise through the session to push into the London session testing towards the 1.4100 levels, the London sellers appeared and the market quickly dropped back to the 1.4050 levels and held around the level through into the NYK session slowly rising from the repeated pushes into the 1.4040 levels and then holding above the 1.4050 level into the London close before dropping back and breaking the lows and testing to the 1.4010 level and holding quietly through to the close. Better initial claims numbers saw the USD rising a little over the day.
- JPY: Initial buying for the Tokyo fix saw the market testing through to the 107.00 areas before a steady drift through the balance of the Asian session with bank holidays around the world and the last session for the week for some, limiting the movement somewhat, the move into the London session saw the market pushing off the 106.35 level and testing back through into the 106.60 areas and trading quietly through into the NYK session slipping lower, the market ran through to the 106.30 areas holding roughly around the levels before returning to the 106.50 levels into the close.
- AUD: Early weakness saw the Oz dip thro0ugh to the 0.7645 areas before starting a rally of sorts as USD weakened through into early Tokyo, the market lifted off those lows and tested through to the London session squeezing a little through the 0.7670 areas to fall just short of the 0.7680 area, the market then ranged to the close with the highs slowly increasing to touch close to the 0.7690 levels before drifting to the close.
Yesterday’s premiership results
NZDÂ Â Â Â Â Â Building Permits M/M Feb A 5.70% | P 0.20% | R 0.00%
GBPÂ Â Â Â Â Â GfK Consumer Confidence Mar A -7 | C -10 | P -10
JPYÂ Â Â Â Â Â Â Â Retail Trade Y/Y Feb A 1.60% | C 1.70% | P 1.60% | R 1.50%
CHFÂ Â Â Â Â Â Â KOF Leading Indicator Mar A 106 | C 107.2 | P 108 | R 108.4
EURÂ Â Â Â Â Â Â German Unemployment Mar A -19K | C -15K | P -22K | R -23K
EURÂ Â Â Â Â Â Â German Unemployment Claims Rate Mar A 5.30% | C 5.30% | P 5.40%
GBPÂ Â Â Â Â Â Mortgage Approvals Feb A 64K | C 66K | P 67K
GBPÂ Â Â Â Â Â Money Supply M4 M/M Feb A -0.40% | C 1.30% | P 1.50%
GBPÂ Â Â Â Â Â Current Account Balance Q4 A -18.4B | C -23.7B | P -22.8B
GBPÂ Â Â Â Â Â Index of Services 3M/3M Jan A 0.60% | C 0.60% | P 0.60%
GBPÂ Â Â Â Â Â GDP Q/Q Q4 (F) A 0.40% | C 0.40% | P 0.40%
EURÂ Â Â Â Â Â Â German CPI M/M Mar (P) A 0.40% | C 0.50% | P 0.50%
EURÂ Â Â Â Â Â Â German CPI Y/Y Mar (P) A 1.60% | C 1.70% | P 1.40%
CADÂ Â Â Â Â Â GDP M/M Jan A -0.10% | C 0.10% | P 0.10% | R 0.20%
CADÂ Â Â Â Â Â Industrial Product Price M/M Feb A 0.10% | C 0.40% | P 0.30% | R 0.40%
CADÂ Â Â Â Â Â Raw Materials Price Index M/M Feb A -0.30% | C 2.80% | P 3.30% | R 3.40%
USDÂ Â Â Â Â Â Personal Income Feb A 0.40% | C 0.40% | P 0.40%
USDÂ Â Â Â Â Â Personal Spending Feb A 0.20% | C 0.20% | P 0.20%
USDÂ Â Â Â Â Â PCE Deflator M/M Feb A 0.20% | C 0.20% | P 0.40%
USDÂ Â Â Â Â Â PCE Deflator Y/Y Feb A 1.80% | C 1.70% | P 1.70%
USDÂ Â Â Â Â Â PCE Core M/M Feb A 0.20% | C 0.20% | P 0.30%
USDÂ Â Â Â Â Â PCE Core Y/Y Feb A 1.60% | C 1.60% | P 1.50%
USDÂ Â Â Â Â Â Initial Jobless Claims (MAR 24) A 215K | C 231K | P 229K | R 227K
USDÂ Â Â Â Â Â Chicago PMI Mar A 57.4 | C 62 | P 61.9
USDÂ Â Â Â Â Â U. of Mich. Sentiment Mar (F) A 101.4 | C 102 | P 102
USDÂ Â Â Â Â Â Natural Gas Storage A -63B | C -75B | P -86B
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.