10 Aug: Risk aversion boosts Yen, Chf, Gold. RBNZ on hold. Political soundbites to continue to be the focus.

By | August 10, 2017

 

It has been a day of cutting risk positions and seeking a safe-haven, with the Yen and Swiss Franc, in particular, demand as US-North Korean tensions remain the main theme of the markets. On the other hand, the Aud and the Kiwi have been discarded with risk-associated assets being heavily sold. The Kiwi is now awaiting the outcome of the RBNZ Meeting, due shortly, which will be followed later by some words of wisdom from the RBNZ Governor, Wheeler. Elsewhere Gold and Silver remain well bid at new minor trend highs, while WTI is choppy but towards the upper end of its recent range. Stocks have been choppy but are pretty much unchanged at the end of the day.

Following the RBNZ Meeting (RBNZ just left rates on hold – as expected), Asia is going to be fairly quiet, with the Australian Consumer Inflation Expectation being the only real point of interest. Europe will be similarly thin, with just the UK Manufacturing/Industrial Production and the Goods Trade Balance to look to ahead of the US session, which will contain the PPI, Jobless Claims and a speech from the Fed’s Dudley. All this is likely to pass fairly unnoticed while traders keep a much closer eye on what Donald Trump might say/do.

The levels in this table are a guide only. For more in depth analysis please go the “Articles” tab at the top of the page and scroll down.

CURRENCIES
EURUSD: 1.1758
Res  1.1770  1.1800  1.1825
Sup  1.1715  1.1685  1.1650
USDJPY: 109.98
Res  110.15  110.35  110.70
Sup  109.75  109.55  109.30
GBPUSD: 1.3007
Res  1.3030  1.3055  1.3075
Sup  1.2970  1.2950  1.2930
USDCHF: 0.9632
Res  0.9655  0.9670  0.9695
Sup  0.9610  0.9600  0.9585
AUDUSD: 0.7888
Res  0.7900  0.7915  0.7945
Sup  0.7870  0.7855  0.7835
NZDUSD: 0.7346
Res  0.7355  0.7370  0.7390
Sup  0.7330  0.7310  0.7285
INDICES / COMMODITIES
S&P: 2474
Res  2480  2485  2490
Sup  2465  2460  2455
DJI: 22025
Res  22080  22150  22200
Sup  22005  21955  21875
ASX SPI: 5705
Res  5720  5740  5755
Sup  5685  5670  5660
XAUUSD: 1277
Res  1280  1285  1290
Sup  1270  1265  1260
XAGUSD: 16.94
Res  17.00  17.15  17.30
Sup  16.75  16.60  16.45
WTI: 49.68
Res  49.80  50.20  50.40
Sup  49.40  48.90  48.50