USDJPY 107.792 | EURUSD 1.13697 | AUDUSD 0.70087| NZDUSD 0.66995| USDCAD 1.30952 | USDCHF 0.97657 | GBPUSD 1.26718 |
LMAX highs and Lows 05.00 GMT
Highs | Lows
EURUSD 1.13762 | 1.13627
USDJPY 107.818 | 107.562
GBPUSD 1.26786 | 1.2667
USDCHF 0.97692 | 0.97531
AUDUSD 0.70117 | 0.69988
USDCAD 1.31008 | 1.30867
NZDUSD 0.67084 | 0.66907
EURCHF 1.11068 | 1.10835
EURGBP 0.89751 | 0.89664
EURJPY 122.564 | 122.297
- GBP: A very quiet Friday session with the market opening just above the 1.2670 level and slowly rising towards the 1.2680 level and then drifting back to hold the opening level for the move into the grey hour, strong congestion above the 1.2760 level with possibly weak stops on a test through the 1.2780 areas and a quick push through the sentimental levels and momentum building to a stronger test through to the 1.2900 level and limited congestion in the area likely to slow the rise however, very little technical wise to stop further movement higher other than Brexit news. Downside Strong congestion on any move through the 1.2650 level and building into the 1.2620-00 area, a dip through the level is likely to see some weak stops however, the downside is possibly going to see better buyers moving in on any dips through towards the 1.2500 levels and limited interest from sellers for the time being.
- JPY: Opening on its highs the USDJPY spent much of its session drifting from just above the 107.80 level to test lightly through the 107.60 level deep into the Tokyo session before recovering half the move for the move into the grey hour in very quiet trading, Congestion likely through the downside with weak stops on a break through the 106.80 areas and support are likely to start appearing on any push through to the 106.20-00 areas and the congestion then increasing on any attempt to break through to the 105.80 levels. Topside offers with weak stops likely on a break above the 108.30 areas and opening a move through to the 108.80-109.00 level where better offers are likely to appear.
- AUD: The opening saw the market drifting from above the 70 cents level ranging initially around the 0.7005 level for much of the session with one dip through the 70 cent level before recovering and a slow rise through to the grey hour pushing the 0.7010 for the high of the day, Topside offers from the current levels are a little thin but increase as the market pushes towards the 0.7020 level with weak stops on a move through the 0.7050 and then some stronger offers appearing to slow the market from squeezing higher, Downside bids light through the 69 cents level with limited stops likely to appear before stronger bids start to reappear on a move through the 0.6850 level and increasing the closer to the 68 cents level the market gets.
- EUR: A quiet range like the rest of the pairs with an early move in Tokyo setting the highs around the 1.1375 level before drifting back through the opening level to test to the 1.1365 area for the move into the grey hour, Congestive offers still remain to the topside with possible weak stops above the 1.1420 level and lighter congestion from there through the usual 1.1440-60 area to build into stronger offers on any push for the 1.1480-1.1500 area, even through this level the market continues to see resistance to the 1.1550 level and the market moving into the ranges from last summer, downside bids light back through to the 1.1350 area with some possible stronger congestion in the area however, through there leaves very little until the approach of the 1.1320-00 area where some older bids could still be holding
Concerns mount over reckless 2008 style lending in the $52T shadow – UKT
China to insist US lift Huawei ban as part of trade deal – WSJ
Fed’s Daly says too early to know need or size of cut – BBG
Australian swap rates offer scope for deeper cuts – BBG
US-China dispute: it’s not just about trade and it won’t be easy – The Hill
US-China real breakthrough in medium term very difficult – BBG
Actual – A | Consensus – C | Previous – P | Revised R | all timings GMT/UTC
NZD ANZ Consumer Confidence (MoM) (JUN) A 2.8% | P -3.2%
NZD ANZ Consumer Confidence Index (JUN) A 122.6 | P 119.3
GBP GfK Consumer Confidence (JUN) A -13 | C -11 | P -10
GBP Lloyds Business Barometer (JUN) A 13 | P 10
JPY Jobless Rate (MAY) A 2.4% | C 2.4% | P 2.4%
JPY Job-To-Applicant Ratio (MAY) A 1.62 | C 1.63 | P 1.63
JPY Tokyo Consumer Price Index (YoY) (JUN) A1.1% | C 1.0% | P 1.1%
JPY Tokyo Consumer Price Index Ex-Fresh Food (YoY) (JUN) A 0.9% | C 1.0% | P 1.1%
JPY Tokyo CPI Ex-Fresh Food, Energy (YoY) (JUN) A 0.8% | C 0.8% | P 0.8%
JPY BOJ Summary of Opinions
JPY Industrial Production (MoM) (MAY P) A 2.3% | C 0.7% | P 0.6%
JPY Industrial Production (YoY) (MAY P) A -1.8% | C -3.0% | P -1.1%
JPY First Day of G20 Summit in Osaka, Japan
01:30 AUD Private Sector Credit (MoM) (MAY) A 0.2% | C 0.2% | P 0.2%
05:00 JPY Housing Starts (YoY) (MAY) A -8.7% | C -4.2% | P -5.7%
06:00 EUR German Import Price Index (MoM) (MAY) C -0.2% | P 0.3%
06:00 EUR German Import Price Index (YoY) (MAY) C -0.2% | P 1.4%
07:00 CHF KOF Leading Indicator (JUN) C 94.9 | P 94.4
08:30 GBP GDP (QoQ) (1Q F) C 0.5% | P 0.5%
08:30 GBP GDP (YoY) (1Q F) C 1.8% | P 1.8%
08:30 GBP Current Account Balance (1Q) C -32.0b | P -23.7b
09:00 EUR Euro-Zone CPI Core (YoY) (JUN A) C 0.9% | P 0.8%
09:00 EUR Euro-Zone Consumer Price Index Estimate (YoY) (JUN) C 1.2% | P 1.2%
12:30 CAD GDP (MoM) (APR) C 0.2% | P 0.5%
12:30 CAD GDP (YoY) (APR) C 1.5% | P 1.4%
12:30 CAD Industrial Product Price (MoM) (MAY) C 0.0% | P 0.8%
12:30 USD Personal Income (MAY) C 0.3% | P 0.5%
12:30 USD Personal Spending (MAY) C 0.5% | P 0.3%
12:30 USD Real Personal Spending (MAY) C 0.4% | P 0.0%
12:30 USD PCE Deflator (MoM) (MAY) C 0.2% | P 0.3%
12:30 USD PCE Deflator (YoY) (MAY) C 1.5% | P 1.5%
12:30 USD PCE Core (MoM) (MAY) C 0.2% | P 0.2%
12:30 USD PCE Core (YoY) (MAY) C 1.6% | P 1.6%
13:45 USD Chicago Purchasing Manager (JUN) C 54 | P 54.2
14:00 USD U. of Mich. Sentiment (JUN F) C 97.9 | P 97.9
- GBP: Moving quietly through into the Tokyo session pushing quietly through to the 1.2695 level before dipping back on light selling through to the 1.2680 and ranging through to the London session around that level, London were quick buyers taking the market through the 1.2700 in a quick move before dipping back just as quickly to the 1.2680 level and then running higher at a steady pace through to the 1.2720 levels to make the highs of the day and holding through to the NYK session around the 1.2710 levels before dipping with the USD gaining ground on slightly weaker data for some reason, possibly fitting in with current mixtures of interest, the market then traded around the 1.2670 level posting lows just above the 1.2660 areas to the close.
- JPY: USDJPY moved through into the Tokyo session slowly drifting from the opening levels through to the 107.65 area before recovering and heading quickly through the opening 107.75 level testing quickly through to the 108.00 level and ranging for a limited period before slowly rising through to the 108.10 areas topping around the 108.15 level into the London session before starting a slow steady drift lower through to the opening levels and ranging quietly around the 107.80-90 areas through to deep into the NYK session before moving to challenge the lows, the market had a long run to the close rising lightly to finish the day unchanged.
- AUD: A limited day with much of it driving towards the 0.7000 level having opened around the 0.6985 level, the early Tokyo session saw the figure level tested for the first time before ranging in the 0.6985-75 areas for the move into London, even London saw the same range and it wasn’t until the market moved deeper into NYK before the next strong attempt at the 70 cents levels saw a push through, it was short lived and the rest of the time was spent rising from just below to make the highs around the 0.7008 level for the close.
- EUR: Limited day for the Euro opening around the 1.1370 level the market struggled to rise much beyond the 1.1375 level before moving deeper into Tokyo and dipping through on a steady drift through to the London opening testing just through the 1.1350 level, early buyers saw the market returning to the opening levels and ranging around the level and make the highs for the day just beyond the 1.1380 level before again holding the opening levels in a long move to the close.
Yesterday’s Premiership results
JPY Retail Trade (YoY) (MAY) A 1.2% | C 1.2% | P 0.5% | R 0.4%
JPY Retail Trade s.a. (MoM) (MAY) A 0.3% | C 0.6% | P 0.0% | R -0.1%
JPY Large Retailers’ Sales (MAY) A -0.5% | C 0.2% | P -1.8%
NZD ANZ Activity Outlook (JUN) A 8.0 | P 8.5
NZD ANZ Business Confidence (JUN) A -38.1 | P -32
CNY Industrial Profits (YoY) (MAY) A 1.1% | P -3.7%
JPY BOJ Wakatabe speaks in Aomori
EUR Euro-Zone Economic Confidence (JUN) A 103.3 | C 104.7 | P 105.1
EUR Euro-Zone Business Climate Indicator (JUN) A 0.17 | C 0.28 | P 0.3
EUR Euro-Zone Industrial Confidence (JUN) A -5.6 | C -3.0 | P -2.9
EUR Euro-Zone Services Confidence (JUN) A 11.0 | C 12.4 | P 12.2
EUR Euro-Zone Consumer Confidence (JUN F) A -7.2 | C -7.2 | P -7.2
EUR German CPI (MoM) (JUN P) A 0.3% | C 0.2% | P 0.2%
EUR German CPI (YoY) (JUN P) A 1.6% | C 1.4% | P 1.4%
USD GDP Annualized (QoQ) (1Q T) A 3.1% | C 3.2% | P 3.1%
USD Personal Consumption (1Q T) A 0.9% | C 1.3% | P 1.3%
USD Initial Jobless Claims (JUN 22) A 227K | C 219k | P 216k | R 217K
USD GDP Price Index (1Q T) A 0.9% | C 0.8% | P 0.8%
USD Continuing Claims (JUN 15) A 1688k | C 1.665k | P 1662k | R 1666k
USD Core PCE (QoQ) (1Q T) A 1.2% | C 1.0% | P 1.0%
USD Pending Home Sales (MoM) (MAY) A1.1% | C 1.0% | P -1.5%
USD Pending Home Sales (YoY) (MAY) A -0.8% | P 0.4%
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