USDJPY 107.895 | EURUSD 1.1286 | AUDUSD 0.69939 | NZDUSD 0.66711 | USDCAD 1.31053 | USDCHF 0.98625 | GBPUSD 1.25937 |
LMAX highs and Lows 05.00 GMT
Highs | Lows
EURUSD 1.12951 | 1.12861
USDJPY 107.901 | 107.535
GBPUSD 1.26000 | 1.25873
USDCHF 0.98615 | 0.98343
AUDUSD 0.69994 | 0.69858
USDCAD 1.31132 | 1.30961
NZDUSD 0.66837 | 0.66735
EURCHF 1.11342 | 1.11085
EURGBP 0.89683 | 0.89612
EURJPY 121.801 | 121.427
- GBP: Opening just above the 1.2590 level the market slowly rose to the 1.2600 areas unable to push through the market dipped a few times to the 1.2590 areas and ranged in that area until late in the session dipping eventually and slowly through the 1.2590 into the final hour through to the grey period, downside bids remain through to the 1.2550 levels and are likely to increase on a test through the level increasing the closer the market moves towards the 1.2500 areas with strong stops likely on a push through the 1.2500 area to open a deeper move, topside offers light through to the 1.2650 areas with limited congestion in the area building to stronger level into and through 1.2700 with some light stops through the level, further pushes are likely to see stronger offers increasing through the 1.2750 level and weak stops likely on a strong push through the 1.2780 areas.
- JPY: USDJPY slowly drifted from the opening around the 107.90 level moving through to the Tokyo fix around the 107.85-80 area and then dropping steadily through to the 107.55 area before finding sufficient support to arrest any further downside movement, the market continued to range around the 107.60 level then until the grey hours in very slow trading. downside light bids through to the congested 107.40-20 areas and likely to continue until the 106.80 areas break with weak stops likely to dominate the downside through to the 106.50 areas before some bids are likely to reappear, topside offers cleared through to the 108.50 level however, congestion still remains and likely to increase on any test to the 108.80 level with weak stops likely on a push through the 109.00 level and stronger congestion in the 108.40-60 areas likely to limit further gains.
- AUD: Very quiet trading for the Oz with the market opening just above the 0.6990 level and ranging in a tight range through the session deeper into the Tokyo period, light selling of AUDJPY saw the market drift off through into the mid 0.6980’s before slowly returning and testing towards the 0.7000 level for the move into the grey hour, Topside offers from the current levels are a little thin 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: Opening around the 1.1290 level the market remained mired around the level through to the grey hours with a slightly increasing range as the market moved through Tokyo to the grey hour, the market struggled with the 1.1295 area and never really challenged either side of the market. Congestive offers still remain to the topside with possible weak stops above the 1.1320 level and lighter congestion from there through the usual 1.1340-60 area to build into stronger offers on any push for the 1.1400 area, even through this level the market continues to see resistance through the topside and the market, downside bids congested on any dip through the 1.1260 areas and likely to continue into the 1.1240 level however, even though it lightens a little the move through the 1.1200 areas is likely to see stronger bids appearing on any dip to test the 1.1150 level.
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Actual – A | Consensus – C | Previous – P | Revised R | all timings GMT/UTC
NZD QV House Prices (YoY) (JUN) A 2.0% | P 2.3%
AUD AiG Performance of Service Index (JUN) A 52.2 | P 52.5
AUD CBA Australia PMI Services (JUN F) A 52.6 | P 53.3
AUD CBA Australia PMI Composite (JUN F) A 52.5 | P 53.1
GBP BRC Shop Price Index (YoY) (JUN) A -0.1% | P 0.8%
JPY Markit Japan PMI Composite (JUN) A 50.8 | P 50.7
JPY Markit Japan PMI Services (JUN) A 51.9 | P 51.7
NZD ANZ Commodity Price (JUN) A -3.9% | P 0.1%
AUD Building Approvals (YoY) (MAY) A -19.6% | C -21.5% | P -23.4%
AUD Building Approvals (MoM) (MAY) A 0.7% | C 0.0% | P -3.4%
AUD Trade Balance (MAY) A A$5.745b| C A$5.250b | P A$4.871b
CNY Caixin China PMI Composite (JUN) A 50.6 | P 51.5
CNY Caixin China PMI Services (JUN) A 52 | C 52.6 | P 52.7
07:45 EUR Markit Italy Services PMI (JUN) C 50.0 | P 50.0
07:45 EUR Markit Italy Composite PMI (JUN) C 49.5 | P 49.9
07:50 EUR Markit France Services PMI (JUN F) C 53.1 | P 53.1
07:50 EUR Markit France Composite PMI (JUN F) C 52.9 | P 52.9
07:55 EUR Markit Germany Services PMI (JUN F) C 55.6 | P 55.6
07:55 EUR Markit/BME Germany Composite PMI (JUN F) C 52.6 | P 52.6
08:00 EUR Markit Eurozone Services PMI (JUN F) C 53.4 | P 53.4
08:00 EUR Markit Eurozone Composite PMI (JUN F) C 52.1 | P 52.1
08:30 GBP Markit/CIPS UK Services PMI (JUN) C 51.0 | P 51.0
08:30 GBP Markit/CIPS UK Composite PMI (JUN) C 51.0 | P 50.9
11:00 USD MBA Mortgage Applications (JUN 28) P 1.3%
11:30 USD Challenger Job Cuts (YoY) (JUN) P 85.9%
12:15 USD ADP Employment Change (JUN) C 140k | P 27k
12:30 CAD International Merchandise Trade (Canadian dollar) (MAY) P -0.97b
12:30 USD Trade Balance (MAY) C -$53.4b | P -$50.8b
12:30 USD Initial Jobless Claims (JUN 29) C 220k | P 227k
12:30 USD Continuing Claims (JUN 22) C 1681k | P 1688k
13:45 USD Markit US Services PMI (JUN F) C 50.7 | P 50.7
13:45 USD Markit US Composite PMI (JUN F) P 50.6
14:00 USD Factory Orders (MAY) C -0.5% | P -0.8%
14:00 USD Factory Orders Ex Trans (MAY) P 0.3%
14:00 USD Durable Goods Orders (MAY F) P -1.3%
14:00 USD Durables Ex Transportation (MAY F) P 0.3%
14:00 USD ISM Non-Manufacturing/Services Composite (JUN) C 56.0 | P 56.9
14:30 USD DOE U.S. Crude Oil Inventories (JUN 28) P -1.28m
16:00 USD EIA Natural Gas Storage Change (JUN 28) P 98
- GBP: Opening around the 1.2640 levels and a meagre rise through to just below the 1.2650 area before drifting through Tokyo until late in the session and a quick test below the 1.2630 supportive area, the move into the grey hour saw the market bounce back to the opening levels before dropping back into the London session with unenthralling House and construction numbers, the market pushed to the 1.2620 level and held for a brief period through to midmorning before dropping through to the 1.2610 level and the early lows of London, the market managed to slowly push back through to the opening levels through to the first few hours into the NYK session before Carney’s speech put paid to the market and a quick drop through to the 1.2590 however, one has to point out this is the same BoE Governor that predicted mass unemployment in 2016 and much worse once the Brexit vote was announced, having tested through the 1.2600 level the market struggled through to the end of London rising a little and eventually pushing above the 1.2610 areas holding quietly before starting a steady drift through to the close holding just above the lows around the 1.2585 area.
- JPY: Opening around the 108.45 areas and dropping quickly on the opening in Tokyo to test the 108.30 level before slowly rising through to midmorning in Tokyo to push to its highs for the day just above the opening, the market drifted to the grey hour holding quietly around the 108.35 levels and early London tried the topside in a weak rally but as with the previous pushes the opening level proved to be too much before drifting off through to the 108.20 level, not until deep into NYK did the market move lower testing steadily through to the 107.75 areas and basing there through to the close in a quiet session.
- AUD: Limited day and considering the well projected cut in interest rates fairly uneventful with the market rising in the Tokyo session from the opening around the 0.6965 initially testing a little to the downside but the market started to slowly rise through to the 0.6980 areas, the release saw the market spike lower to make the lows into the 0.6950’s before snapping back and then trading to the 0.6985 area and ranging to deep into the London session around the 0.6980 areas struggling to test above the 0.6990 areas rising slowly into the NYK session and making the high just above the 70 cents level before drifting to a close around the 0.6990 areas.
- EUR: A quiet session for the Euro through the Asian session slipping a little on the Tokyo opening to test the 1.1280 level for the first time, the market recovered to the opening level and then slowly drifted through the 1.1280 level testing to the 1.1275 areas and holding quietly through to the grey hour, the market rallied slowly through into the London session rising towards the 1.1300 areas failing the first time and then pushed through to spike to the 1.1320 level triggering some weak stops the rally was quickly over and the market dropped back to the 1.1300 level and holding quietly through to midmorning in NYK dipping through to the opening levels before a slow steady rise through to the 1.1310 level before ending the day in a slow drift through to the close. Unchanged on the day.
Yesterday’s Premiership results
NZD Building Permits (MoM) (MAY) A 13.2% | P -7.9%
JPY Monetary Base (YoY) (JUN) A 4.0% | P 3.6%
AUD RBA Cash Rate Target (JUL 2) A 1.00% | C 1.00% | P 1.25%
EUR German Retail Sales (MoM) (MAY) A -0.6% | C 0.5% | P -2.0%
EUR German Retail Sales (YoY) (MAY) A 4.0% | C 2.7% | P 4.0% | R 4.6%
GBP Nationwide House PX (MoM) (JUN) A 0.1% | C 0.2% | P -0.2%
GBP Nationwide House Px n.s.a. (YoY) (JUN) A 0.5% | C 0.5% | P 0.6%
GBP Markit/CIPS UK Construction PMI (JUN) A 43.1 | C 49.2 | P 48.6
EUR Euro-Zone PPI (MoM) (MAY) A -0.1% | C 0.1% | P -0.3%
EUR Euro-Zone PPI (YoY) (MAY) A 1.6% | C 1.8% | P 2.6%
AUD RBA Governor Lowe speaks in Darwin
USD Fed’s Williams Speaks on Global Economic and Policy Outlook
CAD MLI Leading Indicator (MoM) (MAY) A 0.2% | P 0.4%
CAD RBC Canadian Manufacturing PMI (JUN) A 49.2 | P 49.1
GBP BOE’s Carney Speaks in Bournemouth.
USD Fed’s Mester to Speak on Economy in London
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