Insights for the Asian trading session 12/9/2018
* The People's Bank of China (PBC) New Loans rise to 1.45 trillion yuan, above forecasts.
* Australia National Australia Bank's Business Confidence - down from 7 to 4 also below a forecast of 5
* China FDI - Foreign Direct Investment (YTD) (YoY) (August) - up from 1.1% to 2.3%
* United Kingdom Average Earnings including Bonus (3Mo/Yr) - up from 2.4% to 2.6%
* United Kingdom ILO Unemployment Rate (3M) - remain unchanged at 4%
* United Kingdom Claimant Count Unemployment Change - came out positive at 8.7K from the previous 10.2K
* United Kingdom Average Earnings excluding Bonus (3Mo/Yr) - up from 2.7% to 2.9%
* Germany ZEW Survey (Institutional Investor Sentiment) -Current Situation - up from 72.6 to 76
* Germany ZEW Survey (institutional investor sentiment)- Economic Sentiment - The results came out at -7.2 vs -14.9 forecast and -11.1 from the previous term
* Canada Housing Starts s.a (YoY) - The results came out at 201.0K vs 210.03 forecast and 205.8 from the previous term
* United States JOLTS Job Openings ( Job vacancies in the US commercial, industrial and office areas ) - The results came out at 6.939M vs 7.064M forecast
Wednesday's macro summary:
* Australia Westpac Consumer Confidence - Wed, Sep 12 2018 00:30 GMT
* ChinaM2 Money Supply (YoY) - Wed, Sep 12 2018 02:00 GMT
* ChinaNew Loans - Wed, Sep 12 2018 02:00 GMT
* China FDI - Foreign Direct Investment (YTD) (YoY) - Wed, Sep 12 2018 02:15 GMT
* European Monetary Union - Industrial Production s.a. (MoM) - Wed, Sep 12 2018 09:00 GMT
* United States - FOMC Member Brainard Speech - Wed, Sep 12, 2018, 16:45 GMT
* United States Producer Price Index ex Food & Energy (YoY) at 12:30 GMT
* United States - FOMC Member Brainard Speech - Wed, Sep 12, 2018, 16:45 GMT
* United States - Fed's Beige Book - Wed, Sep 12 2018 18:00 GMT
* Japan - Foreign bond investment - Wed, Sep 12 2018 23:50 GMT
* Japan Foreign investment in Japan stocks - Wed, Sep 12, 2018, 23:50 GMT
The FX Majors Current Positions
AUD/USD: The Australian dollar fell towards the end of the Asian session in yesterday's trades from the highs of 0.71286 and took out two short positions targets at 0.71060 and 0.70915 as indicated in the previous update. The Australian dollar bounced at 0.70915 support and continued to the upside during the overnight session achieving two long targets at 0.71060 and 0.71180.
The pair is currently trading at 0.71164 and could continue to its next target at 0.71358 if it holds at the current support at 0.71180 in the 30 minutes price chart. The pair might offer another short opportunity if it falls and closes below 0.71180 support in the 30 minutes price chart. The short target is estimated at around 0.71060.
The short-term view of the AUD/USD price action in the 30 minutes price chart highlights the direction of the trend and the support and resistance price points
AUDUSD 30 MINUTES- 12_09_2018 , 8_13_45 AM
EUR/USD: The Euro failed to continue above 1.16390 as indicated in the last update and pulled back all the way to1.5650 support. The pair bounced at around at 1.15758 support and created an upward price channel on its way up to its 500 EMA in the 30 minutes price chart. The Euro pierced through its 500 EMA and 1.16040; however, it failed to continue and retreated to around its 500 EMA. The pair currently trades at 1.16024 just above its 500 EMA in the 30 minutes price chart indicated on the chart below.
The pair could continue to its next target at 1.16154 if it holds above its 500 EMA and 1.16040. The pair could also retreat to 1.15885 support at the bottom of the price channel before continuing to the upside. If the Euro makes it to its first target, then it might open up the path to 1.16286 and 1.16390 price targets.
The short-term view of the EUR/USD price action in the 30 minutes price chart highlights the direction of the trend and the support and resistance price points
AUDUSD 30 MINUTES- 12_09_2018 , 8_13_45 AM
GBP/USD: The Pound reached its highest price point at 1.30897 in the Asian session in yesterday's trades before pulling back into the long-term uptrend price channel during the European trading session. The pair fell from 1.30710 support all the way down to around 1.29710 at the bottom of the price channel before bouncing at 1.29858 support.
The Pound finished the overnight session in the middle of the price channel and continued in the same direction at the beginning of the Asian session. The pair needs to continue and maintain activities above 1.29998 to proceed to its next target at 1.30427. If it fails at 1.29998, then the expected support is at around 1.29858 and 1.29710.
The short-term view of the GBP/USD price action in the 30 minutes price chart highlights the direction of the trend and the support and resistance price points
AUDUSD 30 MINUTES- 12_09_2018 , 8_13_45 AM
USD/JPY: The US dollar broke through 111.230 after the consolidation period in the 60 minutes price chart and took out two of its long price targets at 111.430 and 111.632 during the overnight session. The pair finished the overnight session still in an uptrend position at around 111.632 resistance. However, the pair needs to break and hold above 111.632 to continue to its next target at 111.885. If it fails to continue above 111.632 then, the pair might retreat to 111.430 before making its next move.
The short-term view of the USD/JPY price action in the 30 minutes price chart highlights the direction of the trend and the support and resistance price points
USDJPY 60 MINUTES 12_09_2018 , 9_42_54 AM
USD/CAD: The USD failed to hold above 1.31625 support at the bottom of the price channel as indicated in the previous update and fell to 1.31324 support. The pair bounced at 1.31324 and attempted to break into the price channel in the 60 minutes price chart; however, it failed and headed back down to 1.31324.
The US dollar was under was under so much pressure at 1.31324 and ended up giving in to the bears. The pair fell all the way to 1.30460 in the 60 minutes price chart and finished the overnight session at around 1.30645. The pair seems to be consolidating at the bottom after bouncing at 1.30460 support and might head back up to its first long target at around 1.30850 if it holds at its current support at 1.30460.
The short-term view of the USD/CAD price action in the 30 minutes price chart highlights the direction of the trend and the support and resistance price points
USDCAD 60MINUTES - 12_09_2018 , 10_12_21
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LEOPRIME DAILY MARKET ANALYSIS