19 Feb: Quiet session due to US holiday. RBA Minutes, ZEW and UK jobs data in focus Tuesday.

By | February 19, 2019

It has generally been a fairly quiet session in the absence of the US, where it has been a public holiday although the US$ remains under some mild pressure as risk assets remain firm on hope of progress in the trade negotiations between the US/China. Having said that, both the Aud$ and the Nzd$ ended the day by trading towards session lows albeit that these were fairly narrow.

In other markets, Gold rose by 0.4% to reach the highest level since April 2018 (1327), while WTI also moved higher, by 0.85%, to reach its highest level in 3 months (56.64).

Tuesday is going to have another relatively thin calendar although traders will pay close attention to the RBA Minutes, for further clarity on where/when the next interest rate move might be. Europe will look to the German/EU ZEW Economic Sentiment Survey and the UK Unemployment data (exp 3.9%, +2.4K), but that will be about it. The Global Dairy Trade Index is due around midday in London but there is nothing to come from the US apart from the NAHB Housing Market Index. Oil traders should look out for the weekly API Weekly Crude Oil Stock Inventory..

Economic data highlights will include:

Tue: RBA Minutes, EU Current Account, Construction Output, German/EU ZEW Economic Sentiment Survey, UK Unemployment, NAHB Housing Market Index, Global Dairy Trade Index

CURRENCIES
EURUSD: 1.1312
Res  1.1335  1.1350  1.1365
Sup  1.1290  1.1235  1.1270
USDJPY: 110.58
Res  110.65  110.85  111.15
Sup  110.25  110.00  109.65
GBPUSD: 1.2927
Res  1.2940  1.2970  1.3000
Sup  1.2890  1.2860  1.2830
USDCHF: 1.0041
Res  1.0070  1.0100  1.0130
Sup  1.0025  0.9995  0.9965
AUDUSD: 0.7131
Res  0.7145  0.7160  0.7180
Sup  0.7120  0.7110  0.7095
NZDUSD: 0.6851
Res  0.6865  0.6885  0.6905
Sup  0.6840  0.6820  0.6800
INDICES / COMMODITIES
S&P.fs: 2778.03
Res  2785.00  2800.00  2815.00
Sup  2760.00  2745.00  2730.00
DJ30.fs: 25905.00
Res  25950.00  26085.00  26260.00
Sup  25695.00  25475.00  25260.00
SPI200.fs: 6052
Res  6075  6100  6125
Sup  6035  6005  5975
XAUUSD: 1326.39
Res  1330.00  1335.00  1340.00
Sup  1320.00  1315.00  1310.00
XAGUSD: 15.81
Res  15.85  15.95  16.05
Sup  15.75  15.65  15.55
WTI.fs: 56.43
Res  56.85  58.20  59.30
Sup  55.45  54.10  52.90