Trading with point and figure

[Dentalfloss]

usdjpy into horizontal rez
110.80 for a p/d

 

[Dentalfloss]

oil in 50.00 supp
will it hold.?

 

[Dentalfloss]

1.3450 dump
whammo

 

[Dentalfloss]

gbpjpy 148.60 supp
for a p/d

 

[Dentalfloss]

22212...dump for a few off Inzi"s rez

 

[Dentalfloss]

gbpjpy 148.60 supp
for a p/d

pump for a few..so far

 

[Dentalfloss]

was minor rez.became supp bounced off 1.3420
retesting rez

 

[Dentalfloss]

gbp crosses and ftse a tad volatile in last few mins

 

[Dentalfloss]

eurusd 1.1930 pivot area
there now

 

[Moneylender]

12535 magnetic!

 

[Dentalfloss]

- Reaction to North Korea missile launch relatively muted, focus on US
data, via way of Retail Sales, Industrial Production & Michigan
Sentiment; Russian rates seen cut 50 bps; quarterly equity futures &
options expiry

- US Retail Sales: auto sales to weigh on headline, core measures seen
posting further healthy gains implying solid Q3 Personal Consumption

- US Industrial Production: utilities output expected to restrain
headline, Manufacturing Output expected to recover from autos related
dip in July; strong ISM suggests some upside risks

..........................................................................

********************
** EVENTS PREVIEW **
********************
Outside of US Retail Sales, the day's schedule is relatively modest, with US Industrial Production. NY Fed Manufacturing and the provisional September Michigan Sentiment surveys the other items on the agenda. In central bank terms, there are speeches from BoE ueber dove Vlieghe and ECB's Lane, along with a monetary policy meeting in Russia. It is also quarterly equity futures and options expiry, and as my colleague Andy Ash noted on Tuesday "September expiry has not been great in recent history. To be more accurate it has been pivotal (changing its previous direction) with varying intensity, every year apart from 2013, in the last 10." Talking of positioning and the aftermath of yesterday's BoE meeting, the GBP CFTC COT positioning data will be of particular interest this evening, given that it will include Tuesday, when the CPI data may well have purged some of the modest GBP net short, meanwhile the 50% retrace of the Brexit down move looms in the headlights at 1.3429 - see attached charts.

** Russia - Bank Rossi rate decision **
- A relatively sharp rise in the RUB in recent weeks, along with a every benign pace of inflation (last 3.3% y/y, well below the end 2017 target of 4.0%) is expected to see Russia's Bank Rossi make a bolder 50 bps rate cut to 8.50%, with last week's 100 bps rate cut in Brazil to 8.25% also leaving Russian rates at the highest in nominal and real terms among major EM central banks. As can be seen from the attached chart, Nabiullina has been cautious since 2015 in cutting rates, despite the more stable oil price profile, in no small part due a degree of scepticism on her part about that stability, though also obviously dictate by the Crimea related sanctions. It has probably also suited her key policy initiative of rooting out and closing the weaker elements of the Russian banking system (ca 1/3 of Russian banks have been closed under her watch), particularly given the fact that the Russian economy is notoriously interest rate insensitive.

** U.S.A. - August Retail Sales / Industrial Production **
- July's very solid Retail Sales (headline and core 'control group') 0.6% m/m confirmed that personal consumption is running at a solid pace. The August Retail Sales report is expected to see a drag from Auto Sales, which took a late hit from Hurricane Harvey, with headline Sales seen at just 0.1% m/m, with a modest offset from a mostly price related uptick in gasoline sales, thus ex-Auto Sales are seen at 0.5% m/m and ex-Autos & Gasoline 0.3% m/m. Industrial Production is seen eking out a modest 0.1% m/m gain, with utilities output likely to be a modest drag due to mild weather, but rather more attention will be given to Manufacturing Output, which is forecast to rebound 0.3% m/m from July's -0.1% m/m, the latter due almost entirely to a 3.6% m/m fall in Auto Output, though ex-Autos Output actually rose 0.2% m/m. A robust Manufacturing ISM reading (58.8 vs. July 56.3) implies some upside risks relative to forecasts, even if H2 Output is likely to see a more protracted drag from the auto sector, given the sluggish pace of sales. Provisional Sept Michigan Sentiment is also due, and is seen slipping to 95.0 after jumping to 96.6 in August, with rising gasoline prices and the impact of the hurricanes likely to have weighed on sentiment.
from marc ostwald

 

[Dentalfloss]

ftse in our 7260 pivot area
will it hold.?

 

[Moneylender]

Explosion on London underground poss a bomb!!

 

[inzimam]

Twitter

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[Moneylender]

Twitter

Sent from my SM-G950F using Tapatalk

What could be in a bucket, no reports of serious injury though!

 

[Dentalfloss]

ftse in our 7260 pivot area
will it hold.?

bounce..for a few..so far
stop tight

 

[Dentalfloss]

gbpjpy 148.60 supp
for a p/d

yes sir..pumped nicely

 

[Moneylender]

Tight trading range last 48hrs

 

[Moneylender]

Time for tea n toast, back later.

 

[Dentalfloss]

cable 1.3450 retest and pump...missed it
was way out on that rez