USDJPY 111.927 | EURUSD 1.16901 | AUDUSD 0.71955 | NZDUSD 0.65723 | USDCAD 1.29982 | USDCHF 0.96548 | GBPUSD 1.3108 |
LMAX Highs and Lows 5.15am GMT
High | Low
EURUSD 1.16976 | 1.16877
USDJPY 112.078 | 111.788
GBPUSD 1.31226 | 1.31069
USDCHF 0.96640 | 0.6467
AUDUSD 0.71963 | 0.71772
USDCAD 1.30058 | 1.29911
NZDUSD 0.65899 | 0.65734
EURCHF 1.12949 | 1.1281
EURGBP 0.89204 | 0.89107
EURJPY 131.038 | 130.718
- GBP: Very quiet for a Friday with the market again testing above the 1.3120 levels but with very little impact and struggling through to the grey areas holding in a tight 1.3110-20 area on light volumes, Topside offers congested through to the 1.3180-1.3200 level where better offers are suspected, a push through the 1.3210 level could see stronger stops appearing and the market opening to the 1.3250 area with light congestive orders increasing in size to the level, downside bids light back through the 1.3100 with stronger bids likely to appear into the 1.3050 area however, one would suspect that those bids are still forming and uncertain and the market could quickly find itself back to the 1.3000 before finding some stronger bids, a break through the 1.3000 level will likely see weak stops appearing and the market running through to the 1.2950 areas before bids reappear and congestion from there into the 1.2900.
- JPY: From the opening around the 111.90 areas the early buyers quickly appeared into the Tokyo session and a steady grind up through the 112.00 level however, the market then struggled with offers into the 112.10 area and eventually dropped back through to the 111.80 area on the failure of the rally to push further, offers 112.10-20 areas may see weak stops and the market opening to a quick move through to the 112.50 level where congestion is likely to increase on any further move towards the 113.00 areas and strong offers in that area, downside bids light through to the 111.50 area with congestive bids likely through to the stronger 111.00 levels with stops likely on a push through the level however, the congestion is likely to continue and yield buying possibly moving in again through to the 110.50 areas.
- AUD: A very light session for the Oz with the market moving through to test lightly through the 0.7180 level before recovering back to the 0.7190-95 opening levels for the move into the grey hour, topside offers through to the 0.7260 areas before the market sees any weakness however it is likely to be short lived with 0.7280 likely to see stronger offers beginning through to the 0.7310 areas, weak stops possible through the 0.7320 area however, they are likely to be light with stronger congestion likely to be around the 0.7340-60 levels and increasing from there to the 0.7380-0.7400 level, downside bids light through to the 0.7100 areas with possibly strong bids willing to step in on any dip through the level with congestion appearing on any run through the 0.7070 areas, even through the level the chances are buyers will be willing to fade the market picking up longs on any further dips.
- EUR: A very light session with the market struggling for momentum in any direction, with the market so close to the 1.1700 level the Euro has held in a very tight 1.1690-95 range for the most part with no real attempt to push the figure level, topside offers into the 1.1700 area, with congestive offers likely to continue through to the 1.1740 areas what stops there are, are likely to be just behind the level however, the congestion from there is likely to increase on any move to push through to the July highs and increasing into the 1.1800 area. Downside bids light through to the 1.1640 area with congestion then appearing for any move to the 1.1600 level, possible weak stops on a move through but one suspects that the congestion is likely to continue through the level and 1.1540 and the months lows are likely to see bids appearing.
Trump swaggers before China talks, saying he feels no pressure
BoE chief sends chilling no deal warning to UK government
Carney is said to warn bad Brexit may be as bad as 2008 – Guardian
SMSF (self-managed super funds) property leverage a ticking time bomb – ABC
More Japanese funds buying foreign corporate bonds – State street
BoJ is said to have chosen forward guidance for global markets – BBG
Turkey takes bitter medicine as emerging market crisis spreads – TEL
Germany strikes antimigrant deal with Italy as new government crisis brews – WSJ
FED member sees more interest rates hikes – AP
Draghi ups warnings on high debt amid Italian fiscal tensions
Actual = A | Consensus = C | Previous = P | Revised = R All timings GMT
NZD BusinessNZ Manufacturing PMI Aug A 52 | P 51.2
CNY Retail Sales Y/Y Aug A 9.00% | C 8.80% | P 8.80%
CNY Industrial Production Y/Y Aug A 6.10% | C 6.20% | P 6.00%
CNY Fixed Assets Ex Rural YTD Y/Y Aug A 5.30% | C 5.70% | P 5.50%
JPY Industrial Production M/M Jul (F) A -0.20% | C -0.10% | P -0.10%
09:00 EUR Eurozone Trade Balance (EUR) Jul C 16.3B | P 16.7B
12:30 USD Retail Sales Advance M/M Aug C 0.40% | P 0.50%
12:30 USD Retail Sales Ex Auto M/M Aug C 0.50% | P 0.60%
12:30 USD Import Price Index M/M Aug C -0.20% | P 0.00%
13:15 USD Industrial Production M/M Aug C 0.30% | P 0.10%
13:15 USD Capacity Utilization Aug C 78.40% | P 78.10%
14:00 USD Business Inventories Jul C 0.50% | P 0.10%
14:00 USD U. of Mich. Sentiment Sep (P) C 96.9 | P 96.2
- GBP: A quiet Asian session saw the Cable drifting through the session moving lower from the opening to test the 1.3040 levels before holding quietly around the 1.3050 levels and through into the grey hour, the market saw early selling with the talk of PM May under imminent threat however the market started a slow steady rise through into the London session pushing back above the opening levels to test to the 1.3070 level, some movement around the BoE announcement however, with no rise and vote seeing no descension the move into the NYK session quickly moved off the lows and moved quickly higher as Brexit chatter again kicked in with UK saying one thing and the EU saying another however, to some extent the talking is almost to an end with the likelihood of no deal being the outcome and the EU having pushed to hard walking away with nothing and the consequences for the future are what the UK makes of it. NYK took the market quickly to the highs triggering some weak stops on the move through the 1.3100 level to test to the 1.3125 areas before running out of steam and into congestive offers, the market was unable to challenge the highs however kept in contact with the area with a long run to the close holding around the 1.3110 levels.
- JPY: USDJPY eased into the Tokyo session quietly and lifted from the Tokyo fix to test to the 111.40 levels before slowly rising through to the grey hours testing the 111.50 area, London was little different overall with the range holding for the most part around the 111.50 level and testing to the 111.65 areas with some light GBPJPY buying before dropping off a little into the NYK session and starting another run higher from the 111.40 levels, pushing through the 111.85 areas the market struggled with the area testing late into the session to the 112.00 area and finishing just off the level.
- AUD: A quiet slowly rising market for the Oz with early buying around the numbers to test through to the 72 cents level before drifting through into London and never really slipping back to the opening level around 0.7175, London held the range quietly around the 0.7185 areas before buying into the NYK session with a mixed view of the CPI numbers seeing some USD selling move through before reversing the highs around the 0.7230 level and back to hold quietly through to the close around the 0.7190 areas.
- EUR: Euro’s managed a slow move higher through the Asian session pushing from the 1.1625 area and testing light through to the 1.1640 level into the midsession of the Tokyo session, however the move through to the grey hour saw the market drifting and the push into early Europe saw the market dropping back to the 1.1615 areas and finally making the 1.1610 lows in early London, the move through to the NYK and US numbers was quiet and once the numbers were released the Euro quickly moved higher to test quickly to the 1.1700 area before finding strong offers holding the level, and although the market did dip away on the failure slowly regained its composure to range quietly around the 1.1690 areas to the close.
Yesterday’s premiership results
GBP RICS House Price Balance Aug A 2% | C 2% | P 4%
JPY Domestic CGPI Y/Y Aug A 3.00% | C 3.10% | P 3.10% | R 3.00%
JPY Machine Orders M/M Jul A 11.00% | C 5.80% | P -8.80%
AUD Consumer Inflation Expectation Sep A 4.00% | P 4.00%
AUD Employment Change Aug A 44.0K | C 18.4K | P -3.9K | R -4.3K
AUD Unemployment Rate Aug A 5.30% | C 5.30% | P 5.30%
EUR German CPI M/M Aug (F) A 0.10% | C 0.10% | P 0.10%
EUR German CPI Y/Y Aug (F) A 2.00% | C 2.00% | P 2.00%
CHF Producer & Import Prices M/M Aug A 0.00% | C 0.10% | P 0.10%
CHF Producer & Import Prices Y/Y Aug A 3.40% | C 3.40% | P 3.60%
GBP BoE Bank Rate A 0.75% | C 0.75% | P 0.75%
GBP BoE Asset Purchase Target Sep A 435B | C 435B | P 435B
GBP MPC Official Bank Rate Votes A 0–0—9 | C 0–0—9 | P 0–0–9
GBP MPC Asset Purchase Facility Votes A 0–0—9 | C 0–0—9 | P 0–0–9
EUR ECB Rate Decision A 0.00% | C 0.00% | P 0.00%
EUR ECB Press Conference
CAD New Housing Price Index M/M Jul A 0.10% | C 0.10% | P 0.10%
USD CPI M/M Aug A 0.20% | C 0.10% | P 0.20%
USD CPI Y/Y Aug A 2.70% | C 2.70% | P 2.90%
USD CPI Core M/M Aug A 0.10% | C 0.20% | P 0.20%
USD CPI Core Y/Y Aug A 2.20% | C 2.40% | P 2.40%
USD Initial Jobless Claims (SEP 8) A 204K | C 210K | P 203K | R 205K
USD Natural Gas Storage A 69B | C 65B | P 63B
USD Monthly Budget Statement Aug A -214.1B | C -183.0B | P -76.9B
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.