Author: Mike Paterson
1

Not a good morning for equity markets as political fears prevail 2 Feb

  • FTSE  7221.07 -0.7% from lows of 7209.67
  • DAX  11762.95 -1.56% vs lows of 11747.77
  • CAC40 4827.70 -1.32% vs lows of 4817.

Off their lows maybe but showing no real sign of recovery as I type so we should expect yen demand to prevail overall but keep your eyes peeled.

US equity markets likely to be in retreat too with S&P futures down -0.4% at 2353.80 off lows of 2351.40

Oil trading near session lows helping USDCAD to nudge higher along with CADJPY supply. Gold just off session highs and helping to provide some dip-demand to AUDUSD along with general USD supply.

USD index (DXY) down -0.4% on the day and now at 100.78 just off 1 week lows.


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Author: Mike Paterson
7

Enquiry opened to investigate Brexit campaign spending

Spending amounts by Stronger In and Vote Leave are under investigation The probe into the levels of spend has been announced by the Electoral Commission. A total of more than £32m was spent on the campaign  with the Leave side funded by donations totalling £16.4m exceeding Remain side's £15.1m, making it the most expensive referendum ever fought in British political history.Lib Dem spending is also under review.

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Author: Mike Paterson
14

USDJPY heads down through 112.50 as yen demand prevails again

Yen buying notable again as the week comes to a close 24 Feb USDJPY has dropped below decent  support at 112.50 triggering stops down to 112.35. Yen pairs also lower and that's capping core pairs with GBPUSD 1.2547 ,  EURUSD 1.0585, AUDUSD 0.7702 all running into cross-related supply.

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Author: Mike Paterson

More from the order boards 24 Feb

Here's the latest on other key pairs  24 Feb  2017 1.0050 near session lows as USD softens USDCHF:   Offers:  1.0080 1.0130

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Author: Mike Paterson

HSBC raises UK GDP growth forecasts

HSBC out with latest note on UK. Our good friends at Livesquawk reporting. - 2017 +1.9% from +1.2% - 2018 +1.4% from +1.3%

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Author: Mike Paterson

EURJPY orders 24 Feb

Currently 119.02 on session lows as yen demand prevails Bids/support nearby. Offers:  120.30   119.50 119.85 120.00  120.50 Bids:  

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Author: Mike Paterson

AUDUSD orders 24 Feb

Currently 0.7708 still underpinned as gold heads higher Offers:   0.7720  0.7735 0.7750 0.7780 0.7800 Bids:    0.7665   0.7680

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Author: Mike Paterson
1

USDJPY orders 24 Feb

Currently 112.65 on the back foot still Offers: 112.85 113.25-30   113.00 113.50 113.80-85 114.00-05 Bids:  112.50 112.30 112.00 111.85 111.50 111.00

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Author: Mike Paterson

EURUSD orders 24 Feb

Currently 1.0591 having failed an attempt above 1.0600 Offers:  1.0600-05  1.0635 1.0620 1.0650 1.0680 1.0700 Bids:    1.0575-80  1.0530

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Author: Mike Paterson

GBPUSD orders 24 Feb

Currently 1.2548 underpinned still by USD selling EURGBP demand adding to GBP supply. Offers: 1.2565  1.2575-80 1.2600 1.2630 1.2650 Bids:   1.2530 1.2450

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Author: Mike Paterson

EURGBP orders 24 Feb

Currently 0.8443 but stalling around 0.8450 so far. Month-end demand in play again Offers: 0.8460 0.8520 0.8485 0.8500  0.8535 0.8550 Bids: 0.8420

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Author: Mike Paterson
2

China refutes Trump's currency manipulation claims

Chinese foreign ministry out with a statement a short while ago 24 Feb - China has no intention of using ccy devaluation to its advantage The comments came at the daily press briefing in Beijing.

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Author: Mike Paterson
22

Trading ideas - European session 24 Feb

Your daily thread to exchange trading ideas and discussion 24 Feb It's Friday.. Got to love that.  Yeeeeeeey ! But is anyone any the wiser ?

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Author: Mike Paterson

Eurostoxx 50 futures flat in early European trading

Delicately poised as we wait on official openings 24 Feb - DAX futures -0.2% - CAC40  -0.1% - FTSE -0.!% Bund futures open +8 at 165.72 In China the SCI closed +0.1%. CS1300 flat

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Author: Mike Paterson
1

China ramping up oil imports

January oil import data by China now out 24 Feb - from Russia yy +36.5$ at 1.08m bpd - Saudi yy+ 18.9% at 1.18m bpd - Iraq yy +43,2% at 825,820 bpd - Angola yy +63.5% at 1.17m bpd One reduction and that's from Iran which is out of favour at minus 1.3% yy at 402,750 bpd

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Author: Mike Paterson
6

AUD underpinned with gold on a march higher still

The Aussie $ has enjoyed good support lately 24 Feb Gold strength has helped underpin the ccy from Down Under and now the shiny stuff has posted highs not seen since 11 Nov

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Author: Mike Paterson
1

Nikkei 225 closes down -0.45% at 19,283.54

Japanese equities softer on yen strength 24 Feb - high 19381.10 - low 19219.58 - Topix -0.39% at 1550.14 - USDJPY 112.81 off its lows but tightly bound and unable to get back above 113.00 in Asia Expect offers/res there still and more at 113.20. Demand/support 112.65-70 with more at 112.50

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Author: Mike Paterson
3

Economic data coming up in this session 24 Feb

Here's what's on the economic data/event calendar for today 24 Feb Greetings one and all. It's Friday and the end of another week that leaves markets, traders and robots still second-guessing.

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