Andy Harrison
Good Morning,
LMAX Close
USDJPY 111.774 | EURUSD 1.13065 | AUDUSD 0.7032 | NZDUSD 0.67731 | USDCAD 1.34414 | USDCHF 1.00495 | GBPUSD 1.31706 |
LMAX highs and Lows 06.00 GMT
                               Highs | Lows
EURUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.13158 | 1.13029
USDJPY Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 111.789 | 111.575
GBPUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.31852 | 1.31678
USDCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.00535 | 1.00388
AUDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â 0.70514 | 0.70202
USDCADÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.34456 | 1.34349
NZDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.67924 | 0.67654
EURCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1.13685 | 1.13532
EURGBPÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.85899 | 0.85755
EURJPY Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 126.375 | 126.212
For Today
- GBP: Rising on the move into the Tokyo session to the 1.3180 level the market then traded quietly through to the grey hours holding just above the 1.3175 areas, Congestion to the downside around the 1.3100 level with possible weak stops on a push through the level is likely to see congestion increasing on any dip to the 1.3050 level however, the any push here could see the downside opening to stronger selling through to the 1.2900 where the market is likely to be stronger, topside offers light through to the 1.3100 level with congestion likely on any push through,
- JPY: Opening around the 111.75 levels and slowly slipping lower through into the Tokyo session to test below the 111.60 before seeing some limited buying into the fix and a slow move through to the 111.70 areas and holding around the level to the grey hours, topside offers into the 112.20 areas with light congestion likely with limited congestion continuing higher and that stronger congestion then continuing through the 112.50 areas. Downside bids light back through the 111.00 levels with stronger congestion into the 110.80 levels and likely to continue deep into the 110.40 before weakness appears, weak stops on a move through and limited congestion into the 110.00 level.
- AUD: Rising from the opening 0.7030 level a minor dip into the Tokyo session saw the market test the 0.7020 level before a slow rise through to the 0.7050 level before holding steady through to the grey hours, topside offers limited through to the 0.7120 level and some congestive come sentimental offers in the area before weak offers through to the 0.7150 level and stronger congestion likely to start appearing on any move through to the 0.7200 levels, downside bids light through to the 0.7020 area before stronger congestion starts to appear and continuing through to the 70 cents levels. A push through the 70 cent level will likely see strong congregation of stops appearing and the market relying on sentimental values to a greater extent with 0.6950 and 69 cents possibly holding strong bids to hold the market for the time being.
- EUR: A slow rise through to the 1.1315 level and the high of the session before drifting from the Tokyo session to hold lightly around the 1.1305 area to the grey hours in quiet trading, Topside offers building into the 1.1380-1.1420 areas with a little weakness on a push through that high with stronger offers then appearing into the 1.1450 areas, downside bids into the 1.1280 level weak stops likely on a test through the level before stronger bids start to reappear on a push to the 1.1250 level, possible stronger stops likely on any push through the 111.80 level with possible stronger bids into that level,
Overnight News
AUD:
GDP slowdown will trigger rising unemployment and rate cuts, warns Westpac
The unwind in Australia’s residential building boom is just getting started Bus insider
Oz construction sector shedding jobs DJ
CNY:
China deflation gauge is now a good indicator of company defaults FFM
China’s Stimulus muddle deepens – WSJ
GBP:
Brexit deal will be defeated by 100 votes, Ministers believe, after talks
UK Lords defeat May with vote to remain in EU custom union 207-141
KRW:
Activity detected at N. Korea’s ICBM production site Joongang
Activity at N.Korea’s launch site sours Trump’s post Hanoi Honeymoon with Kim
OECD:
OECD cuts global growth forecast again, warning of weakening trade and Eurozone slowdown
EUR/GBP:
Reuters US news: EU says difficult Brexit talks unlikely to yield swift deal TWT
USD:
Fed downgrades view of US growth on Government shutdown’s toll BBG
Some foreign banks to be sanctioned by US over Venezuela US official
USD/CNY:
China won’t make big concessions on trade deal Ex Minister
Today’s Data
Actual A | Consensus C | Previous P | Revised R | all timings GMT/UTC
AUDÂ Â Â Â Â Â AiG Performance of Construction Index Feb A 43.8 | P 43.1
AUDÂ Â Â Â Â Â Trade Balance (AUD) Jan A 4.55B | C 2.90B | P 3.68B | R 3.77B
AUDÂ Â Â Â Â Â Retail Sales M/M Jan A 0.10% | C 0.30% | P -0.40%
JPYÂ Â Â Â Â Â Â Â Leading Index CI Jan (P) A 95.9 | C 96 | P 97.5
06:45Â Â Â Â CHFÂ Â Â Â Â Â Â Unemployment Rate Feb C 2.40% | P 2.40%
08:00Â Â Â Â CHFÂ Â Â Â Â Â Â Foreign Currency Reserves (CHF) Feb P 741B
10:00Â Â Â Â EURÂ Â Â Â Â Â Â Eurozone Employment Q/Q Q4 (F) C 0.30% | P 0.30%
10:00Â Â Â Â EURÂ Â Â Â Â Â Â Eurozone Employment Y/Y Q4 (F) C 1.20% | P 1.20%
10:00Â Â Â Â EURÂ Â Â Â Â Â Â Eurozone GDP Q/Q Q4 (F) C 0.20% | P 0.20%
12:30Â Â Â Â USDÂ Â Â Â Â Â Challenger Job Cuts Y/Y Feb P 18.70%
12:45Â Â Â Â EURÂ Â Â Â Â Â Â ECB Rate Decision C 0.00% | P 0.00%
13:30Â Â Â Â EURÂ Â Â Â Â Â Â ECB Press Conference
13:30Â Â Â Â CADÂ Â Â Â Â Â Building Permits M/M Jan C -1.50% | P 6.00%
13:30Â Â Â Â USDÂ Â Â Â Â Â Initial Jobless Claims (MAR 02) C 225K | P 225K
13:30Â Â Â Â USDÂ Â Â Â Â Â Nonfarm Productivity Q4 (F) C 1.60% | P 2.30%
13:30Â Â Â Â USDÂ Â Â Â Â Â Unit Labour Costs Q4 (F) C 1.70% | P 0.90%
15:30Â Â Â Â USDÂ Â Â Â Â Â Natural Gas Storage P -166B
Harry Hindsight
- GBP: UK/EU negotiations break down led to the fall from the opening with the market dropping from the opening around the 1.3175 level but not the last time the level was seen, initially testing slightly through the 1.3150 level the market moved into the Tokyo session and struggled for a period around the level before again dipping and this time making the lows for the day just through the 1.3125 level and then basing along that level through into London the market then ranged for the most part in the 1.3125-50 areas deep into the NYK session before gradually pushing slowly higher and eventually back to the opening levels for the run to the close.
- JPY: Limited movement through the Asian session with the market opening around the 111.85 areas and making a minor push to above the 111.90 level before moving into Tokyo and dipping through to the 111.75 areas before ranging quietly through the Asian session around the 111.80 levels, the move into the London session pushing through to extend the highs only fractionally to the 111.92 area before drifting a little through to the NYK session, a slow drift through the session testing through to the 111.60 levels, then rising back to the 111.80 area before drifting only slightly to the close.
- AUD: A weaker GDP saw the Oz dropping from the highs just above the 0.7090 level before hitting the 0.7050 level and then holding quietly for a short period to dip again and move through to the 0.7030 level, a long dull session from there with the market ranging around the 0.7030 area in a tight range making one move to the 0.7040 levels but then settling back to run just above the 0.7020 level through to the close.
- EUR: Opening around the 1.1305 area the market dipped to push lightly through the 1.1300 area before bouncing back to the opening levels and Tokyo dipped slowly through to the 1.1290 level into Mid-session and then a slow climb through to the London period pushing the 1.1310 level, the move into the NYK session saw a quick spike how on the US trade balance number only to dip just as quickly from the 1.1315 level to test to the 1.1285 and bouncing off the level back to the median again and a slow rising through to the 1.1325 before drifting through to the opening levels and holding through the close.
Yesterday’s Premiership results
AUDÂ Â Â Â Â Â GDP Q/Q Q4 A 0.20% | C 0.50% | P 0.30%
USDÂ Â Â Â Â Â ADP Employment Change Feb A 183K | C 190K | P 213K | R 300K
CADÂ Â Â Â Â Â International Merchandise Trade (CAD) Dec A -4.6B | C -1.70B | P -2.06B | R -2.0B
CADÂ Â Â Â Â Â Labour Productivity Q/Q Q4 A -0.40% | C 0.20% | P 0.30% | R 0.20%
USDÂ Â Â Â Â Â Trade Balance (USD) Dec A -59.8B | C -57.8B | P -49.3B | R -50.3B
CADÂ Â Â Â Â Â BoC Rate Decision A 1.75% | C 1.75% | P 1.75%
CADÂ Â Â Â Â Â Ivey PMI Feb A 50.6 | C 55.1 | P 54.7
USDÂ Â Â Â Â Â Crude Oil Inventories A 7.1M | C 1.2M | P -8.6M
USDÂ Â Â Â Â Â Federal Reserve Beige Book
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