17 May: Politics dominate on a day of light data. Australian Jobs data ahead. Plenty of CB speakers too.

By | May 17, 2018

 

The US$ is mixed ahead of the Thursday session, while stocks are up by around 0.3%, despite US yields also heading north, to currently sit at 3.1%, after a session in which politics was the main driver of the price action.  The Euro was hit by reports that a likely future Italian government would seek debt forgiveness from European creditors, although it has since recovered from its new trend lows. The US$ maintained its recent gains against the Jpy and Sterling, which is under political Brexit inspired pressure of its own, but was set back a little elsewhere, with renewed North Korean concerns causing traders t take a more cautious stance.

In terms of data, the US housing starts dropped -3.7% to 1.29mio annualised in April, below expectation of 1.33mio, while the building permits dropped -1.8% to 1.35mio in line with expectations. Industrial Production was just above expectations, while the Capacity Utilisation just missed.

Looking ahead, NZ will kick things off today with the Q1 PPI (exp 0.2% mm, 0.3% yy) and this will be followed by the Australian Unemployment (exp +20K, 5.5%). The rest of the day will be dominated by CB speakers, including 2 from the ECBs Constancio as well as the Fed’s Kashkiri, and Kaplan and the BOE’s Haldane. Also due will be the EU Construction Output for March, the US weekly Jobless Claims and the May Philadelphia Fed Mfg Survey. Have a good day

CURRENCIES
EURUSD: 1.1807
Res  1.1820  1.1855  1.1875
Sup  1.1785  1.1765  1.1740
USDJPY: 110.40
Res  110.50  111.00  110.80
Sup  110.20  110.00  109.80
GBPUSD: 1.3489
Res  1.3510  1.3535  1.3550
Sup  1.3470  1.3450  1.3425
USDCHF: 1.0011
Res  1.0040  1.0055  1.0070
Sup  0.9990  0.9975  0.9955
AUDUSD: 0.7514
Res  0.7520  0.7535  0.7565
Sup  0.7500  0.7475  0.7445
NZDUSD: 0.6897
Res  0.6915  0.6925  0.6950
Sup  0.6880  0.6850  0.6830
INDICES / COMMODITIES
S&P: 2721
Res  2730  2745  2765
Sup  2700  2680  2650
DJ30: 24732
Res  24765  24875  24975
Sup  24595  24455  24320
SPI200: 6110
Res  6120  6135  6155
Sup  6095  6080  6060
XAUUSD: 1291
Res  1295  1300  1305
Sup  1285  1280  1275
XAGUSD: 16.37
Res  16.45  16.55  16.75
Sup  16.20  16.05  15.90
WTI: 71.51
Res  72.00  73.00  74.00
Sup  70.50  69.50  68.50