5 Oct: Markets rangebound ahead of tomorrows US jobs data. Australian Retail Sales coming up.

By | October 5, 2017

 

The US$ is little changed on Thursday while traders wait for tomorrow’s US employment figures despite some strong data today that hinted that a December interest rate hike is still on the cards.  The US ISM index of non-manufacturing activity rose at its fastest pace in 12 years (59.8 v exp of 55.5) while the ADP jobs figures came in pretty much in line with expectations, with the previous months figure being revised higher. In other markets, the US stock indices edged to yet new all time highs, underpinned by the fact that US Secretary of State Rex Tillerson denied that he had nearly quit the Trump administration following the Presidents quotes earlier in the week. Gold and Silver are pretty much unchanged, while Oil remains heavy, now back under 50.00 pb.

Thursday will begin with the Australian Retail Sales (exp +0.3%mm) and the Trade Balance (exp $875 mio) and a speech from the RBA’s Debelle. Europe will then look to the ECB Minutes of the last Monetary Policy meeting along with a speeches from the ECB’s Coeure and Praet, with the Chf CPI also due (exp 0.2%mm, 0.6%yy). The US 3 Oct will be dominated by Fed speakers (Powell, Harker, Haldane, George), with the weekly Jobless Claims and the August Factory Orders being the main data releases. All up, it could be a fairly steady 3 Oct as traders stand aside while waiting on the NFP, due tomorrow.

CURRENCIES
EURUSD: 1.1763
Res  1.1785  1.1800  1.1830
Sup  1.1735  1.1715  1.1695
USDJPY: 112.71
Res  113.00  113.20  113.40
Sup  112.50  112.30  112.15
GBPUSD: 1.3255
Res  1.3290  1.3315  1.3340
Sup  1.3220  1.3150  1.3180
USDCHF: 0.9747
Res  0.9760  0.9785  0.9800
Sup  0.9710  0.9685  0.9670
AUDUSD: 0.7862
Res  0.7875  0.7890  0.7910
Sup  0.7815  0.7800  0.7785
NZDUSD: 0.7168
Res  0.7180  0.7200  0.7215
Sup  0.7145  0.7130  0.7100
INDICES / COMMODITIES
S&P: 2536
Res  2540  2545  2550
Sup  2530  2525  2520
DJI: 22601
Res  22650  22700  22750
Sup  22560  22515  22465
ASX SPI: 5643
Res  5670  5690  5710
Sup  5625  5605  5590
XAUUSD: 1275
Res  1280  1285  1290
Sup  1270  1265  1260
XAGUSD: 16.59
Res  16.75  16.90  17.05
Sup  16.50  16.35  16.15
WTI: 49.88
Res  50.70  51.30  51.75
Sup  49.70  49.00  48.40