Andy Harrison
Good Morning,
LMAX Close
USDJPY 110.883 | EURUSD 1.19314 | AUDUSD 0.75832 | NZDUSD 0.70642 | USDCAD 1.2323 | USDCHF 0.91801 | GBPUSD 1.39238 |
LMAX Highs and Lows 0500 GMT
Highs | Lows
EURUSD 1.19450 | 1.19271
USDJPY 110.982 | 110.807
GBPUSD 1.39351 | 1.3914
USDCHF 0.91822 | 0.91707
AUDUSD 0.75939 | 0.7580
NZDUSD 0.70760 | 0.70562
USDCAD 1.23297 | 1.23114
EURCHF 1.09565 | 1.09505
EURGBP 0.85744 | 0.85604
EURJPY 132.445 | 132.23
For Today
- GBP: Drifting from the opening around the 1.3920 level to test just above the 1.3910 level before starting a steady rise through to the 1.3935 level, holding then for a couple of hours before dipping a little for the move into the grey hour, weak sellers continue through the 1.4000 level and likely stronger stops above the level with limited resistance through to the stronger 1.4100 level and congestion several weeks deep. Downside bids light through the 1.3900 level with stronger bids then increasing on a move through the 1.3850 area and into the 1.3800 level strong stops likely on a test through the 1.3770 area and opening for a deeper move.
- JPY: Opening around the 110.85 area and peaking early in Tokyo testing just below the 111.00 level before drifting through the balance of the Asian session into the grey hours to just below the opening levels again, topside strong offers on any move towards the 111.20 level before stops appear however, stronger offers around the 111.50 level likely to limit the first move higher. Downside bids light through to the 109.00 and congestion all the way through, a push through the 108.80 level will likely see weak stops appearing and the market then seeing light congestion to the 108.50 and stronger bids from there on.
- AUD: A quiet range through into the Tokyo session holding the 0.7580-90 level then slowly moving off the low to push quietly through to the 0.7595 level for the high of the day and hold through to the grey hour, Light offers through to the 0.7620 area with weak stops then appearing for a test into the 0.7750 area however, the area is likely to start to see stronger offers beginning to move in and building through to the 0.7800 area, Downside light bids into the 0.7500 area with stronger congestion just through the area and likely to continue from that point to stronger bids again into the 0.7450 area and repeating through the sentimental levels from there.
- EUR: After a quiet start around the 1.1930 area the market drifted into the Tokyo session pushing to just below the 1.1930 before starting a steady climb through to the 1.1945 level for the high of the session and a slow move into the grey hour holding just below the level. Light downside bids through the 1.1900 level and weak stops on a dip through to open another run through to the mid 1.18 levels and stronger bids below the 1.1820 level, Topside offers into the 1.1960 area and increasing on any push to the 1.1980-1.2020 area before stronger stops appear opening another push higher.
Overnight News
JPY/CNY/TWD:
Japan sees China-Taiwan friction as threat to its security – BBG
AUD:
RBA’s Lowe panel event June 30th has been postponed by organizers – BBG
USD:
Senators call Biden to impose sanctions over Apple Daily closure – RTRs
Biden, senators get $579b bipartisan infrastructure deal – BBG
CNY:
PBoC injects net 20b Yuan in open market operations
Today’s Data
NZD Trade Balance MoM (MAY) A 469m | P 388m | R 414m
NZD Trade Balance YoY (MAY) A -60m | P 730m | R 760m
JPY Tokyo Core CPI YoY (JUN) A 0.0% | C -0.1% | P -0.2%
JPY CPI Tokyo Ex Food and Energy MoM (JUN) A -0.1% | P -0.4%
0700 EUR GfK German Consumer Climate (JUL) A | C -4.0 | P -7.0
1330 USD Core PCE Price Index MoM (MAY) A | C 0.6% | P 0.7%
1330 USD Core PCE Price Index YoY (MAY) A | C 3.4% | P 3.1%
1330 USD PCE Price Index YoY (MAY) A | P 3.6%
1330 USD PCE Price Index MoM (MAY) A | P 0.6%
1330 USD Personal Spending MoM (MAY) A | C 0.4% | P 0.5%
1500 USD Michigan Consumer Expectations (JUN) A | C 83.8 | P 78.8
1500 USD Michigan Consumer Sentiment (JUN) A | C 86.4 | P 82.9
1800 USD US Bakers Hughes Total Rig Count A | P 461
Harry Hindsight
- GBP: The move through the Asian session saw the market holding around the 1.3965 level for the most part with several tests of the 1.3950 level through to the grey hour and topside wise struggling on the approaches to the 1.3970 area, Grey hour buying saw the buying through to the 1.3980 area eventually breaking in early London to make the high of the day just above the 1.3985 level. The move to the BoE release bounced around a little before a dovish commentary saw the market dip through the 1.3900 level for the NYK session to hold the 1.3890 area through to the close in London, a steady rise through to the 1.3930 area for the run to the close in quiet trading.
- JPY: Rising from the early low around the 110.95 area the market tested through to the 111.10 level for the second day before dipping off away from the level, the move through to the grey hours saw the market backing off quickly pushing through the 110.95 area and triggering weak sellers into Tokyo lunch to test quickly through the 110.80 and following through to chase to the 110.75 area for the move into the London opening, early range in London around the 110.85 area before slowly drifting through into the NYK session, the move to the London close saw the market rising through to the 110.90 level again and once closed the market held in a very tight range through to the end of the day.
- AUD: A very quiet session through out the day with the market opening around the 0.7575 level and roughly trading through to the London session holding the 0.7570-80 area with only a couple minor breaks until the London session, early London took the market to above the 0.7580 level and the range increased through to NYK testing as low as the 0.7565 area and testing the 0.7585 level, NYK entered and made the high just above the 0.7590 and then sent it back to the 0.7570 area for the close in London before a slow rise to the 0.7585 area for a long tight run to the close.
- EUR: A light rise through into the Tokyo session pushing above the 1.1930 area ranging around the level deep into Tokyo before dipping to the 1.1920 area where the market based through to the grey hour and after a brief attempt to break the downside moved off the 1.1917-18 level to quickly recover and then slowly head into the London session pushing through the 1.1940 area, after a brief pause the market again ran higher to test the 1.1950 level saw the market heading into NYK running through to the high of the day to touch the 1.1955 level before falling back for the move to the London close and a quiet run to the close holding the 1.1930 again.
Premier Results
EUR Spanish GDP QoQ (Q1) A -0.4% | C -0.5% | P -0.5%
EUR German Business Expectations (JUN) A 104.0 | C 103.9 | P 102.9
EUR German Current Assessment (JUN) A 99.6 | C 97.8 | P 95.7
EUR German Ifo Business Climate Index (JUN) A 101.8 | C 100.6 | P 99.2
EUR ECB Economic Bulletin
GBP BoE MPC Vote Unchanged (JUN) A 9 | C 9 | P 9
GBP BoE MPC QE Total (JUN) A 875b | C 875b | P 875b
GBP BoE Interest Rate Decision (JUN) A 0.10% | C 0.10% | P 0.10%
GBP BoE MPC Meeting Minutes
EUR ECB’s Panetta Speaks
USD Core Durable Goods Orders MoM (MAY) A 0.3% | C 0.8% | P 1.0% | R 1.7%
USD Durable Goods Orders MoM (MAY) A 2.3% | C 2.8% | P -1.3% | R -0.8%
USD GDP QoQ (Q1) A 6.4% | C 6.4% | P 6.4%
USD GDP Price Index QoQ (Q1) A 4.3% | C 4.3% | P 1.9%
USD Goods Trade Balance (MAY) A -88.11b | P -85.73b
USD Initial Jobless Claims A 411k | C 380k | P 412k | R 418k
USD Retail Inventories Ex Auto (MAY) A 0.9% | P 0.6% | R 0.7%
CAD Manufacturing Sales MoM (P) A 1.0% | P -2.1%
CAD Wholesale Sales MoM (P) A 1.1% | P 0.4%
USD Fed Bank Stress Test Results
Best Regards
Andy
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.