26 Sept: Election results weigh on Euro, Kiwi. N Korean/US politics set to dominate again today. Yelllen later.

By | September 26, 2017

 

Currency markets are mixed at the end of Monday trade, with the Euro and the Kiwi both lower following the respective election results, while the Yen is stronger after the announcement of a snap election by the Japanese PM Abe, with October 22 likely to be the due date. In other FX pairs, the US$ is stronger against Cable and the Aud but weaker against the Chf. Stocks are a little heavy, led lower by the tech sector, while commodities are generally higher, with WTI up 3% and Gold up 1% after North Korea suggested that the US had ‘declared war,’ and warned that it could shoot down US bombers. .

Tuesday will kick off with the NZ Trade Balance (Aug – exp -$825 mio), Business Confidence and Activity Outlook although there is then precious little to go on until the US arrives apart from the UK Inflation Report Hearing. The US will focus on Janet Yellen’s speech on monetary policy, the housing data, with the release of the Case Shiller House Price Index (July) and the New Home Sales (Aug) and also the Richmond Fed Mfg Index. Oil traders will look towards the API Weekly Crude Oil Stock Inventory for guidance.

The levels in this table are a guide only.

CURRENCIES
EURUSD: 1.1846
Res  1.1880  1.1900  1.1935
Sup  1.1825  1.1800  1.1770
USDJPY: 111.73
Res  112.00  112.20  112.50
Sup  111.50  111.35  111.10
GBPUSD: 1.3463
Res  1.3485  1.3500  1.3520
Sup  1.3450  1.3400  1.3430
USDCHF: 0.9663
Res  0.9680  0.9700  0.9725
Sup  0.9640  0.9620  0.9600
AUDUSD: 0.7935
Res  0.7950  0.7965  0.7985
Sup  0.7915  0.7900  0.7875
NZDUSD: 0.7265
Res  0.7290  0.7315  0.7345
Sup  0.7250  0.7235  0.7215
INDICES / COMMODITIES
S&P: 2498
Res  2505  2510  2515
Sup  2490  2485  2480
DJI: 22278
Res  22340  22385  22450
Sup  22230  22175  22130
ASX SPI: 5687
Res  5700  5720  5740
Sup  5665  5645  5620
XAUUSD: 1310
Res  1315  1320  1325
Sup  1305  1300  1290
XAGUSD: 17.17
Res  17.25  17.40  17.55
Sup  17.05  16.85  16.70
WTI: 52.05
Res  52.45  53.90  55.30
Sup  51.05  49.60  47.75