14 Nov: Markets mostly steady. Gbp lower on political concerns. German/UK CPI, ECB round-table ahead; Draghi/Yellen etc

By | November 14, 2017

 

It has been a generally rangebound session on Monday although Cable headed lower due to the political uncertainties in the UK, while the Aud$ also had a heavy session, briefly taking out the previous double bottom, and generally looking heavy heading into the Asian session. Elsewhere there was not too much going on, with Stocks recovering from a brief dip to end almost unchanged, while the metals and oil have had a rangebound session. The metals are a little higher while WTI is a touch lower.

Asia will get off to a brisk start with the release of the NAB Business Conditions/Confidence, to be closely followed by the China Retail Sales (exp 10.4% -Oct), Industrial Production (exp 6.3% – Oct) & Urban Investment figures (exp 7.55% Oct). This will be followed by a data heavy EU session. The  German CPI, exp 0.0%mm, 1.6%yy; and HICP, exp -0.1%mm, +1.5%yy) and the Preliminary Q3 GDP figures (exp 0.6%qq, 2.2%yy) will be first up, followed by the UK CPI, PPI, RPI are also due (CPI; exp 0.2%mm, 3.1%yy). After this comes the EU Preliminary GDP (exp 0.6%qq, 2.5%yy), Industrial Production (exp -0.5%mm, +2.5%yy) and the ZEW. The US data is minor (PPI – exp +0.1%mm, 2.4%yy) and it will likely be the proposed US tax bill that grabs the headlines. Oil traders will look out for the API Weekly Crude Oil Stock Inventory. An ECB round table today will feature speeches from Draghi/Yellen/Carney/Kuroda etc (+ various other central bankers) so watch for potential headlines coming from that.Have a good day.

CURRENCIES
EURUSD: 1.1670
Res  1.1675  1.1690  1.1715
Sup  1.1645  1.1625  1.1600
USDJPY: 113.57
Res  113.85  114.05  114.35
Sup  113.35  113.20  113.05
GBPUSD: 1.3121
Res  1.3150  1.3180  1.3230
Sup  1.3085  1.3060  1.3025
USDCHF: 0.9957
Res  0.9975  0.9990  1.0020
Sup  0.9935  0.9920  0.9900
AUDUSD: 0.7627
Res  0.7650  0.7665  0.7685
Sup  0.7615  0.7600  0.7570
NZDUSD: 0.6903
Res  0.6920  0.6935  0.6955
Sup  0.6890  0.6875  0.6850
INDICES / COMMODITIES
S&P: 2581
Res  2585  2590  2595
Sup  2575  2570  2565
DJI: 23392
Res  23420  23470  23535
Sup  23350  23320  23285
ASX SPI: 6012
Res  6035  6045  6060
Sup  6000  5985  5970
XAUUSD: 1278
Res  1280  1285  1290
Sup  1275  1270  1265
XAGUSD: 17.04
Res  17.10  17.20  17.30
Sup  16.95  16.80  16.60
WTI: 56.68
Res  57.30  57.90  58.50
Sup  56.30  55.60  54.75