Author: Justin Low

Author: Justin Low

UK data to steal the limelight for the third day in a row


Good day, everyone! Hope you're all doing well as we get into European trading later. Once again, the market is offering good two-way action and that makes for good opportunities to play on both sides - though it feels like we're trapped in the middle for now.

Anyway, the session to come is light on key data with UK retail sales being the only notable one so trading will once again rely on the ebb and flow.

0600 GMT - Switzerland June trade balance data
Prior report can be found here. Trade outlook for the Swiss economy, a minor data point.

0830 GMT - UK June retail sales data
Prior release can be found here. Retail sales in May was solid as good weather and the Royal Wedding boosted spending, and the former is expected to play a part once again in June. Solid figures are expected once again on the yearly estimates (though not as strong as May) so let's see if the UK consumer delivers this time around. At this point, it's hard to see anything but a ghastly report (and by that I mean a really, really dire one) that will shift the BOE rate hike expectations in August considerably.
ForexLive

That's all for the session, I wish you all the best of days ahead and good luck with your trading!

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Author: Eamonn Sheridan
1

ForexLive Asia FX news wrap: Yuan falls heavily again

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ForexLive Asia FX news wrap: Yuan falls heavily again


Author: Eamonn Sheridan
Category: News
1


Forex and Bitcoin news for Asia trading Thursday 19 July 2018 Japan: Australia:: More: - (CHECK THIS OUT FOR A :-D ) The devaluation of the RMB continues, its starting to look more and more like 2015. The PBOC set the onshore reference rate above 6.7 today, SAFE followed up with comments not expressing too much concern at all on the currency; and traders took that as a cue to invite the CNH to the woodshed.

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Trade ideas thread - Wednesday 18 July 2018
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Author: Eamonn Sheridan

Chinese yuan remains weak, offshore trading above 6.77

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Chinese yuan remains weak, offshore trading above 6.77


Author: Eamonn Sheridan
Category: News
0
The People's Bank of China set the onshore today at a mid rate above 6.7, and the offshore has taken that and run with it USD/CNH above 6.77:   Earlier we had not expressing much concern over the yuan, which traders have taken as a green light for a yuan thrashing.

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Author: Eamonn Sheridan

Earlier today the NAB Q2 business survey - still strong business conditions

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Earlier today the NAB Q2 business survey - still strong business conditions


Author: Eamonn Sheridan
Category: News
0
NAB conduct a monthly business survey and also a quarterly Its the monthly that attracts the attention. However, from today's survey fore Q2, some of the main points (in very, very brief):

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Author: Eamonn Sheridan

Australian employment data - more

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Australian employment data - more


Author: Eamonn Sheridan
Category: News
0
These posts from earlier on the labout market report for June A response from Westpac, this in brief from a longer piece: Looking ahead ... a persistent degree of residual slack in the labour market. By contrast the RBA is more optimistic, expecting the unemployment rate to gradually decline.

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Author: Eamonn Sheridan

China SAFE: Need to assess impact on china's cross-border capital flows

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China SAFE: Need to assess impact on china's cross-border capital flows


Author: Eamonn Sheridan
Category: News
0
State Administration of Foreign Exchange (SAFE, china FX regulator)  of the People's Republic of China: - Needs to assess impact on china's cross-border capital flows from trade frictions

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Author: Eamonn Sheridan
8

Heads up for larger FX options expiring Friday and Monday

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Heads up for larger FX options expiring Friday and Monday


Author: Eamonn Sheridan
Category: Forex Orders
8
I posted those for expiry here earlier:  today  - 1.1700 EUR 1.9bn on MONDAY July 23 - 114.25 USD 1.2bn on - 0.7400 AUD 1.2bn on ForexLive

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Author: Eamonn Sheridan

Responses to the AUD data coming in, and a look at where the bids, offers are

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Responses to the AUD data coming in, and a look at where the bids, offers are


Author: Eamonn Sheridan
Category: Forex Orders
0
The labour market reports was a huge beat, great numbers (admittedly its a volatile data set): AUD/USD offers sitting 0.7440/55 Bids come in 0.7410 and then under 0.7400

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Author: Eamonn Sheridan
14

Responses coming in to the huge Australian jobs data beat: "booming jobs"

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Responses coming in to the huge Australian jobs data beat: "booming jobs"


Author: Eamonn Sheridan
Category: News
14
It is not every day you get a massive beat on expectations like this: Responses I have seen include disbelief (there are always more disbelievers when the data is great than when it is bad …. go figure …. bias, right?) through to "Booming jobs" market

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Author: Eamonn Sheridan
12

Australia June Employment Change +50.9K, a huge beat

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Australia June Employment Change +50.9K, a huge beat


Author: Eamonn Sheridan
Category: News
12
Labour market report from the Australian Bureau of Statistics for June Employment up, a huge surge after a few months of lacklustre growth Participation up Unemployment rate unchanged while participation up 

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Author: Eamonn Sheridan

PBOC sets USD/ CNY central rate at 6.7066 (vs. yesterday at 6.6914)

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PBOC sets USD/ CNY central rate at 6.7066 (vs. yesterday at 6.6914)


Author: Eamonn Sheridan
Category: Central Banks
0
And there it is, 6.7 for the reference rate (and change) -   In Open Market operations, PBOC to:net 70bn yuan added ForexLive

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Author: Eamonn Sheridan
1

BOJ 'tapers' again at the JGB auction

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BOJ 'tapers' again at the JGB auction


Author: Eamonn Sheridan
Category: Central Banks
1
  The Bank of Japan have cut it purchases of JGBs -  The Bank bought 60bn yen of JGBs with a maturity of 25 - 40 years against the 70bn yen at the previous operation You may recall the first time the BOJ tapered (over a year ago) the yen strengthened. Then again the next time. After that we all got bored and now the yen does not do too much all (at the most recent taper to today the yen weakened …. bringing forth much LOLs).

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Author: Eamonn Sheridan

Heads up for AUD data due at the bottom of the hour - previews of the jobs report

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Heads up for AUD data due at the bottom of the hour - previews of the jobs report


Author: Eamonn Sheridan
Category: News
0
Coming up at 0130GMT from Australia, , And also NAB Q2 business survey Labour market report from the Australian Bureau of Statistics for June Previews ICYMI:

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Author: Eamonn Sheridan

Forex option expiries today, Thursday 19 July 2018 at the 10am NY cut

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Forex option expiries today, Thursday 19 July 2018 at the 10am NY cut


Author: Eamonn Sheridan
Category: Forex Orders
0
Notable expiry data   EUR/USD - 1.1500 EUR 656m - 1.1600 667m - 1.1650 544m - 1.1675 1.1bn USD/JPY - 112.00 $ 660m - 112.25 735m - 113.00 634m - 113.20 700m GBP/USD

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Author: Eamonn Sheridan

UK data on the ticket today - June retail sales due at 0830GMT

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UK data on the ticket today - June retail sales due at 0830GMT


Author: Eamonn Sheridan
Category: News
0
A preview of UK retails sales data due on Thursday 19 July 2018  Just a couple of quick snippets via … Barclays TD ForexLive

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Author: Eamonn Sheridan
2

Only a little response from the yen following trade balance data … but ...

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Only a little response from the yen following trade balance data … but ...


Author: Eamonn Sheridan
Category: News
2
While exports are still trundling along I thought there were a few red flags in the data Post is here: Japan trade balance for June: Y 721.4bn (expected Y 531.2bn)

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Author: Eamonn Sheridan

Japan trade balance for June: Y 721.4bn (expected Y 531.2bn)

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Japan trade balance for June: Y 721.4bn (expected Y 531.2bn)


Author: Eamonn Sheridan
Category: News
0
Japanese exports have increased for 19 straight months on a y/y basis Trade balance: Y 721.4bn - expected Y 531.2bn, prior was Y -580.5bn Trade balance (adjusted): Y  66.2bn

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Author: Eamonn Sheridan
6

Confirmed: You really should be careful of gaps

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Confirmed: You really should be careful of gaps


Author: Eamonn Sheridan
Category: News
6
Gaps tend to get filled, but maybe not always the way you think  I probably should not have laughed at this cyclist weaving through barriers and then coming to grief 

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Author: Eamonn Sheridan

Reuters July Tankan: Manufacturing +25 vs. +26 prior

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Reuters July Tankan: Manufacturing +25 vs. +26 prior


Author: Eamonn Sheridan
Category: News
0
Trade war concerns ranking up there for Japanese corporates, not surprisingly Japan manufacturers October index seen at +29 Adds Reuters, many respondents expressed concerns about  --

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Author: Eamonn Sheridan

Goldman Sachs expects the RBNZ to hike in February 2019

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Goldman Sachs expects the RBNZ to hike in February 2019


Author: Eamonn Sheridan
Category: Central Banks
0
Goldman Sachs chief New Zealand economist Andrew Boak  says the Reserve Bank of New Zealand to increase the OCR to 2% in February 2019 via Interest Co 

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Author: Eamonn Sheridan
19

Dennis Gartman says an ‘exaggerated’ and ‘stunning’ rally could be on the way

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Dennis Gartman says an ‘exaggerated’ and ‘stunning’ rally could be on the way


Author: Eamonn Sheridan
Category: News
19
Some people swear by Dennis Gartman,. Others swear at him. DJ (MarketWatch) had this piece up overnight on the man himself (): link is here for more Buckle up!

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Author: Eamonn Sheridan
3

ICYMI: Trump economic adviser Kudlow says no US recession until 2024

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ICYMI: Trump economic adviser Kudlow says no US recession until 2024


Author: Eamonn Sheridan
Category: News
3
Larry Kudlow was having a good old chat during the US timezone, plenty of links to comments here at the wrap: Notably LK said: Kudlow was speaking at the CNBC Institutional Investor Delivering Alpha Conference. Its probably a reasonable response to treat his comments with a little wariness, he might get his ass kicked if he expresses doubts on his boss' economic policy impacts. Yep, its all good in Lazzaland!

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Author: Eamonn Sheridan
21

More on Trump confirming Russian meddling in 2016 Presidential US election

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More on Trump confirming Russian meddling in 2016 Presidential US election


Author: Eamonn Sheridan
Category: News
21
US President Trump has said he holds Russian President Putin responsible for influencing the 2016 election   Trump gave an interview to CBS, President Trump and "CBS Evening News" anchor Jeff Glor:

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Author: Eamonn Sheridan

Add this to the data calendar due from the Asia time zone today: Reuters Tankan

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Add this to the data calendar due from the Asia time zone today: Reuters Tankan


Author: Eamonn Sheridan
Category: News
0
The monthly report from Reuters tracks/leads the quarterly Bank of Japan Tankan - Reuters July Tankan survey results are coming up on Thursday 19 July 2018 at 2300 GMT Reuters survey 500+ companies (large- and mid-sized) each month

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Author: Eamonn Sheridan

AUD traders, heads up for the jobs report due soon – preview

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AUD traders, heads up for the jobs report due soon – preview


Author: Eamonn Sheridan
Category: News
0
The Australian employment report is due at 11.30am Sydney time on Thursday 19 July 2018 - Which is 0130 GMT I posted a preview (remarks from ANZ and CBA) yesterday here: 

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