Andy Harrison
Good Morning,
LMAX Close
USDJPY 106.359 | EURUSD 1.10915 | AUDUSD 0.67776 | NZDUSD 0.64257 | USDCAD 1.32689 | USDCHF 0.9785 | GBPUSD 1.21461 |
LMAX highs and Lows 05.00 GMT
                               Highs | Lows
EURUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â 1.11011 | 1.10878
USDJPYÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â 106.478 | 106.24
GBPUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â 1.21730 | 1.21402
USDCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 0.98018 | 0.97627
AUDUSDÂ Â Â Â Â Â Â Â Â Â Â Â 0.67892 | 0.67741
USDCADÂ Â Â Â Â Â Â Â Â Â Â Â Â 1.32765 | 1.3262
NZDUSDÂ Â Â Â Â Â Â Â Â Â Â Â Â 0.64308 | 0.64116
EURCHFÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 1.08694 | 1.08354
EURGBPÂ Â Â Â Â Â Â Â Â Â Â Â Â 0.91352 | 0.91198
EURJPY Â Â Â Â Â Â Â Â Â Â Â Â Â Â 118.122 | 117.86
For Today
- GBP: Opening a touch higher the market drifted through to early Tokyo before lifting again to just above the 1.2160 level and holding through into early morning before dipping through to test the 1.2140 levels to make the lows, the bulk of the session saw the market recovering and pushed again towards the highs for the move into the London session, Topside offers into the 1.2200 area with weak stops likely once the market clears the 1.2250 area to open the topside through to the 1.2350 area with limited sentimental offers in between, downside bids back through the 1.2080 areas and then continuing through to the 1.2040 levels with strong congestion likely with stronger bids on any push towards the 1.2020-00 area with those bids increasing on any dips, a break through the 12000 is likely to find willing buyers from the lows at the beginning of 2017 with buyers likely to remain.
- JPY: USDJPY opened around the 106.25 areas and moving steadily through to the 106.45 area for the move into the Tokyo session holding quietly around the 106.40 levels through to midsession before dipping through to test the lows again before slowly recovering to the closing levels of Friday for the move into the London session, Downside bids likely to be weak through to last week’s 105.00 area with strong bids likely to continue through to the 104.80 area before strong stops are likely to appear for a push steadily through into the 103 handle and the ranges from the end of 2016. Topside offers light through to the 107.50 areas with possible sellers still remaining as Japanese continue to reset their investments away from contentious areas a push through the level will likely to see congestion appearing above the level and limited ability to move.
- AUD: A very limited range for the Oz opening around the close on Friday and moving quickly to above the 0.6785 areas and ranging around the level through to the into Tokyo around the level, Fixing in Tokyo saw the market dipping back and the market falling back to the 0.6775 area before basing there for a couple of hours before rising quickly through to test towards 0.6790 and then holding the opening level into London. Downside bids likely through the 0.6720 level and then increasing as the market moves towards the 0.6680 area with possible strong stops through the level opening a deeper move with limited congestion around the sentimental areas, topside offers light through to the 0.6820-30 areas before weak stops appear and limited congestion for a move to the 69 cents level and stronger offers.
- EUR: A reasonably quiet range for the Euro with the market opening a touch higher and moving to test through the 1.1100 areas in early trading before drifting back to the 1.1090 area for the move through to the London session, Downside congestion around the 1.1050 level with stronger bids on a push to the 1.1020-00 areas before limited bids appear through to the 109.80 and stronger stops appearing and minor support through the 1.09 handle. Topside offers through to the 1.1120 area before some weak stops appear and the market opens to the 1.1140-60 areas and stronger congestion and increasing offers on any push to the 1.1180 level.
Overnight News
USD:
Trump: China’s Huawei is a national security threat
Trump: Had a really good talk with Apples Tim Cook on tariffs
Trump: Cook concerned ref competition from non-tariff Samsung
Trump: Money is pouring into the US; Fed not helping me
Trump: US not going into recession, rest of the world struggling
Trump: We are “Open Not†to doing business with Huawei
Trump: Don’t want Afghanistan to be a laboratory for terror
Trump: Buying Greenland not number one on the burner
Trump: Denmark loses a lot of money on Greenland
Trump: China’s Xi has something in mind to do with trade
Trump: US could cut US force numbers in Afghanistan further
Trump: China wants to make a deal; we’ll see what happens
Trump: China tariffs have cost nothing or very little
USD/CNY:
US set to give Huawei another 90 days to buy from American suppliers – MarketWatch
GBP:
Nearly half of UK voters back no deal Brexit and no PM Corbyn Politico
AUD:
Fed Government reveals timeline to implement its 54 banking royal commission recommendations
Australia well placed to respond to trade disruption – BBG
EUR:
Germany flags high probability on no-deal Brexit FT
Italy’s 5star says Salvini no longer a credible partner NPW
CNY/USD:
US should not expect China to keep Yuan stable alone, says former Senior official with China’s FX watchdog
Today’s Data
Actual A | Consensus C | Previous P | Revised R | all timings GMT/UTC
NZD Â Â Â Â Â Performance Services Index (JUL) A 54.7 | P 53.0
GBP Â Â Â Â Â Â Rightmove House Prices (YoY) (AUG) A 1.2% | P -0.2%
JPY        Trade Balance (JUL) A -¥126.8b | C -¥194.5b | P ¥589.5b
09:00Â Â Â Â EUR Â Â Â Â Â Â Euro-Zone Consumer Price Index Core (YoY) (JUL F) C 0.9% | P 0.9%
09:00Â Â Â Â EUR Â Â Â Â Â Â Euro-Zone Consumer Price Index (MoM) (JUL) C -0.4% | P 0.2%
09:00Â Â Â Â EUR Â Â Â Â Â Â Euro-Zone Consumer Price Index (YoY) (JUL F) C 1.1% | P 1.3%
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.