8 Aug: Markets quiet as focus turns towards Friday’s US CPI release. OPEC Meeting today.

By | August 8, 2017

 

Monday has generally been a very steady session as the market digests Friday’s unemployment numbers, with the most notable point being that the DJI made a record high for the 9th successive session.  Elsewhere markets have been steady, and in terms of data it has been thin. The EU Sentix investor confidence dropped to 27.7 in August, down from 28.3, but beat expectation of 27.6, while the expectations gauge dropped to 16.0, down from 19.8. The main mover in the currency market has been the Kiwi, which has traded lower after the RBNZ’s inflation survey showed that annual inflation is expected to be at 1.77% in 1 year and 2.09% in 2 years, sharply down from the previous survey, three months ago, at 1.92% in 1 year and 2.17% in 2 years.

Tuesday will again be a bit thin on the ground for any economic guidance although Asia may see a bit of action with the release of the NAB Business Conditions/Confidence and the China Trade Balance (exp $46.10 bio Exports +10.9%, Imports +16.6%). The European focus will be on the German Current Account and Trade Balance (Exp +€21 bio) while the US is pretty much a non-event, with just the API Weekly Crude Oil Stock Inventory to look out for.  Oil traders will pay more attention to the OPEC meeting today, and any headlines that may come from Abu Dhabi.

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.

CURRENCIES
EURUSD: 1.1795
Res  1.1815  1.1850  1.1890
Sup  1.1770  1.1725  1.1685
USDJPY: 110.75
Res  110.90  111.05  111.35
Sup  110.50  110.25  110.00
GBPUSD: 1.3033
Res  1.3060  1.3095  1.3115
Sup  1.3010  1.2975  1.2930
USDCHF: 0.9727
Res  0.9745  0.9765  0.9780
Sup  0.9715  0.9685  0.9670
AUDUSD: 0.7911
Res  0.7930  0.7950  0.7965
Sup  0.7890  0.7875  0.7850
NZDUSD: 0.7360
Res  0.7375  0.7400  0.7425
Sup  0.7345  0.7330  0.7300
INDICES / COMMODITIES
S&P: 2477
Res  2480  2485  2490
Sup  2470  2465  2460
DJI: 22061
Res  22080  22150  22200
Sup  22020  21965  21925
ASX SPI: 5722
Res  5730  5745  5760
Sup  5700  5685  5665
XAUUSD: 1258
Res  1260  1265  1270
Sup  1255  1250  1245
XAGUSD: 16.27
Res  16.40  16.50  16.65
Sup  16.15  16.00  15.80
WTI: 49.29
Res  49.95  50.40  50.80
Sup  49.00  48.50  47.85