15 Aug: US$ higher as US/NK tensions ease. RBA Minutes, UK CPI, US Retail Sales in focus, Tuesday

By | August 15, 2017

 

The dollar has rebounded on Monday, led by diminishing safe-haven demand in the Yen and Swiss Franc as risk aversion seems to have eased after various US officials attempted to talk down the risk of war with North Korea. Reacting to the easing of tensions, Gold has traded heavily, under pressure from the stronger dollar, as has WTI which fell 2.5% after data showed that Chinese demand for oil eased in July and came on top of concerns over a rise in OPEC output, which continues to weigh on sentiment.

Tuesday will kick off with the Japan June Industrial and the Australian New Motor Vehicle Sales for July. Much of Europe will be out for the Assumption day holiday although the German Q2 provisional GDP will be released (exp 0.7% qq, 1.9% yy), as will the UK CPI (exp 2.5% mm, 2.7% yy ), PPI and RPI.  The US will focus on the July Retail Sales (exp 0.3% mm, 0.4% ex-autos), but will also see the New York State Empire Mfg Index (Aug – exp 11.0), the Aug Business Inventories (0.4% mm), NAHB Housing Market Index (exp 65) and the API Weekly Crude Oil Stock Inventory. Kiwi traders should look out for the Global Dairy Trade Index, due midday, London.

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.

I will be away for the next 5 weeks and the service will be limited. Daily updates, mainly trading ideas will be posted at various stages during teach session.

CURRENCIES
EURUSD: 1.1778
Res  1.1795  1.1840  1.1855
Sup  1.1770  1.1750  1.1705
USDJPY: 109.61
Res  109.75  110.05  110.30
Sup  109.40  109.00  108.75
GBPUSD: 1.2961
Res  1.2980  1.3000  1.3030
Sup  1.2940  1.2885  1.2910
USDCHF: 0.9720
Res  0.9735  0.9775  0.9805
Sup  0.9665  0.9695  0.9635
AUDUSD: 0.7853
Res  0.7875  0.7900  0.7920
Sup  0.7840  0.7815  0.7800
NZDUSD: 0.7287
Res  0.7300  0.7325  0.7365
Sup  0.7275  0.7250  0.7215
INDICES / COMMODITIES
S&P: 2465
Res  2470  2475  2480
Sup  2455  2450  2445
DJI: 21964
Res  22000  22065  22135
Sup  21900  21840  21785
ASX SPI: 5698
Res  5720  5750  5780
Sup  5665  5640  5615
XAUUSD: 1282
Res  1290  1295  1300
Sup  1280  1275  1270
XAGUSD: 17.07
Res  17.25  17.45  17.60
Sup  17.00  16.85  16.75
WTI: 47.48
Res  47.95  48.50  49.15
Sup  47.20  46.65  46.00