Author: Ryan Littlestone
6

Will USDJPY bulls go all in on the BOJ?

The Fed disappoints again so it's over to Kuroda and his box of BOJ tricks The dollar has taken a hit once more as the market shows its disappointment at the message from the Fed. The statement read like it was written by a dove trying to be hawkish. It didn't work and the charts show you the story since then.

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Author: Mike Paterson
1

Cable claws its way off the floor but the jury remains out

GBPUSD trying to stage a rally after dumping again to 1.3139 28 July The support/demand at 1.3150 gave way on a wave of USD buying as NY came to the party generally that also saw EURUSD fall to 1.1081.

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Author: Mike Paterson
3

Merkel says the repatriation of migrants process must be improved

German chancellor responding to recent terror attacks 28 July Perhaps she should have thought of that before shipping a whole load in ( far more than originally specified) as cheap labour. Ok, I exaggerate to make a point but the writing was on the wall from the start.

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Author: Mike Paterson

Large AUDUSD option expiries today cast a shadow

We've got large AUDUSD option contracts rolling off nearby today 28 July I highlighted the AUD 2.9bln at 0.7500 in my and I would say from the price action the net impact is one of support making the most of the USD supply since the FOMC.

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Author: Mike Paterson
4

Moody's say severe recession would deplete capital of UK banks but from a higher starting point

US ratings agency out with a note on UK banks post-Brexit 28 July - in downside scenario asset quality of UK banks deteriorates significantly, - ratio of NPLs rises ti 4.9% in 2018 from 2% in 2015 In his recent testimony to the UK parliamentary committee Carney urged banks to lend  the money they've been gorging on in cheap conditions. If Moody's are right then there's going to be no rush to lend even if rates were cut next week.

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Author: Mike Paterson
18

EURGBP demand continues to cap cable

Month-end demand for EURGBP in play again today 28 July 2016 Hearing that the EURGBP buyer earlier has been back in and hovered up again. EURGBP posted 0.8438 in a rush, just on a tech res point sending GBPUSD to 1.3160. Stronger sell interest into 0.8450 and GBPUSD at 1.3150 as I also highlighted.

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Author: Mike Paterson

Eurozone economic confidence July 104.6 vs 103.50 exp

Eurozone confidence report now out 28 July 2016 - 104.4 prev - consumer confidence -7.9 as exp/prev - business climate indicator +0.39 vs +0.17 exp vs 0.22 prev Not Tier 1 data but one for general filing.

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Author: Mike Paterson

More from the order boards 28 July

Here's the latest on the other key pairs for today 28 July 2016 0.9835 falling back as EURUSD advances but EURCHF remains underpinned. SNB not back in yet after Tuesday's helping in hand.

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Author: Mike Paterson

Baden-Wuerttemberg CPI July mm+ 0.3% vs +0.0% prev

Latest of the German regionals 28 July 2016 - YY +0.3% vs +0.2% prev - mm +0.2% vs +0.1% prev - yy +0.5% vs +0.4% prev Whole of Germany reading out at 12.00 GMT

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Author: Mike Paterson
3

Lloyds Bank to close 200 branches and axe 3000 jobs

UK's Lloyds Bank out with results and statement earlier 28 July - cuts and closures further to the 9000 and 200 already announced in 2014 - £2.5bln pre-tax profit for 2016 H2 vs £1.2bln H2 2015 UK taxpayers still own 10% of Lloyds whose CEO warns of growth deceleration post-Brexit

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Author: Mike Paterson

Brandenburg CPI July mm +0.5% vs +0.1% prev

Latest of the German regionals 28 July 2016 - yy +0.2% vs -0.1% prev - mm +0.4% vs -0.1% prev - yy +0.2% vs 0.0% prev - mm +0.2% vs +0.1% exp - yy +0.6% as prev Generally more positive tones giving a pointer on the German composite at 12.00 GMT

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Author: Mike Paterson
2

Germany unemployment change July -7k vs -4k exp

German jobs report out now 28 July 2016 - -6k prev - unemployment claims rate 6.1% as exp/prev Better than expected data sees the jobless total falling to 2.682m

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Author: Mike Paterson

EURJPY orders 28 July

Currently 116.21 also seeing euro demand but tempered by yen caution ahead of BOJ tomorrow Offers: 116.50 117.80  116.80 117.00  117.50 118.00 Bids: 115.85 115.50 114.60 114.30 113.75 0

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Author: Mike Paterson

AUDUSD orders 28 July

Currently 0.7543 enjoying USD selling/gold buying Very large option-related interest at 0.7500 ands I imagine that's also lending support. Offers:  0.7550 O.7635 0.7650-55

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Author: Mike Paterson

USDJPY orders 28 July

Currently 104.74 with traders still nervous into tomorrow's BOJ decision Offers: 105.00 105.25 106.20-25 105.50 105.80 106.00 106.50 Bids: 103.75-85 104.60-65 104.30 104.00

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Author: Mike Paterson

EURGBP orders 28 July

Currently 0.8406 with month-end demand anticipation noted Offers:0.8485 0.8425-30 0.8450 0.8470 0.8500 0.8525 0.8550 Bids: 0.8285 0.8380 0.8350

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Author: Mike Paterson

GBPUSD orders 28 July

Currently 1.3214 after the early dip to 1.3170 General USD supply helping the recovery. Demand into 1.3150. Offers/res 1.3250 with larger at 1.3300 Offers: 

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Author: Mike Paterson
1

EURUSD orders 28 July

Currently 1.1114 after stops triggered through 1.1100. Good general euro demand noted helped by USD-neg sentiment. DXY now down 0.7%. Large option-related support at 1.1000 again.

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Author: Mike Paterson

European equity markets open mixed 28 July

Uncertain tones as official trading gets underway 28 July - FTSE -0.2% - DAX -0.1% - CAC40 flat - FTMIB +0.1% - IBEX -0.3% In China the SCI closes up +0.1%. CS1300 Index +0.1%

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Author: Mike Paterson
1

Spain Q2 unemployment rate 20.0% vs 20.3% exp

Spain Q2 unemployment report 28 July 2016 - 21.0% prev Not as good as expected but better than previous. Still a very long way to go though. Spanish also out:

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