7 Sept: Markets on hold ahead of today’s US jobs data. Australian home loans data coming up: FXCharts

A slightly risk averse mood has permeated currency, equity and bond markets on Thursday. The Jpy is firmer at the end of the US session after Japan got dragged into the trade war due to a WSJ column suggesting that Donald Trump intends to turn his focus towards Japan. Elsewhere, the currencies were mostly confined to a tight range ahead of today’s US employment data. The US S&P500 was down 0.4%, with tech stocks again the worst performers. Disappointing US private payrolls data (ADP @ 163K vs expectations of 190K) and potential escalation in the US-China trade war weighed on bond yields, where the US10Y is currently at 2.876%. Gold and Silver are rangebound, while WTI is lower again, down 1.1%.  In the emerging markets it was the turn of the Russian ruble to take the baton, in sinking to a multi-year low

Friday will start with a speech from the RBNZ Governor, Orr, the Australian Home Loans (exp 0.1%mm) and AIG Performance of Construction Index. From Europe we get the German Industrial Production (exp 0.2%mm), Current Account (exp €20 bio) and Trade Balance (exp €20.3 bio), the EU Q2 GDP (exp 0.4%qq, 2.2%yy) but the main focus of the day will be on the US employment report for August (exp 3.9%, +190K, AHE 0.2%mm, 2.8%yy). Have a good weekend

CURRENCIES
EURUSD: 1.1622
Res  1.1660  1.1690  1.1730
Sup  1.1605  1.1575  1.1530
USDJPY: 110.71
Res  110.95  111.25  111.60
Sup  110.50  110.10  109.75
GBPUSD: 1.2925
Res  1.2960  1.2995  1.3040
Sup  1.2895  1.2850  1.2785
USDCHF: 0.9655
Res  0.9695  0.9735  0.9775
Sup  0.9640  0.9600  0.9560
AUDUSD: 0.7195
Res  0.7210  0.7235  0.7260
Sup  0.7175  0.7145  0.7115
NZDUSD: 0.6587
Res  0.6605  0.6625  0.6650
Sup  0.6570  0.6555  0.6530
INDICES / COMMODITIES
S&P.FS: 2878
Res  2890  2900  2910.00
Sup  2870  2860  2850.00
DJ30.FS: 26015
Res  26065  26120  26180
Sup  25945  25885  25810
SPI200.FS: 6117
Res  6140  6165  6185
Sup  6095  6075  6050
XAUUSD: 1200
Res  1205  1210  1215
Sup  1195  1190  1185
XAGUSD: 14.14
Res  14.30  14.45  14.65
Sup  14.00  13.85  13.70
WTI.FS: 67.87
Res  68.40  69.00  69.55
Sup  67.35  66.95  66.45

By | September 7, 2018

Source: FXCharts

 

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