Trading with point and figure

- Thin day for statistics, poor Australian Retail and UK Car Sales to digest,
ahead of US Jobless Claims, Trade & Factory orders; deluge of central bank
speakers (Fed, ECB, BOE) and ECB minutes dominates schedule; UK 5-yr sale


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** EVENTS PREVIEW **
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The day's schedule is rather short of economic data highlights, while the events schedule is brimming with ECB and Fed speakers, along with the 'account' (aka minutes) of the September policy council meeting, and a speech from BoE chief economist Haldane titled "Central Bank Engagement With Society". The latter could eminently invite a long of questioning related to how QE has helped to exacerbate extant social divisions and inequality, but probably will not. Statistically there are UK New Car Registrations, US weekly jobless claims, more than heavily overshadowed by tomorrow's monthly labour market report, accompanied by US and Canadian Trade data, and on the bond auction front, the UK sells £2.75 Bln of what will be next year's 5-yr benchmark Gilt. The UK New Car Registrations fall (-9.2% vs. August -6.4% y/y) serves as a further reminder that the case for BoE rate hike in November is still not cut and dried, even if the MPC's rhetoric in recent weeks has in effect painted itself into a corner, which is to say the least 'unfortunate' given the turmoil evident in the ruling Conservative party and a clear lack of progress in Brexit negotiations. Markets continue to display a rather oxymoronic 'conviction-less risk appetite' (in principle very Pavlovian), hoping for inspiration, but perspiration looks to have the upper hand in the short term.

from Marc Ostwald
 
1 min data
lookin for row with most filled boxes...that is 12925-12930 area/black horizontal
 

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ftse in supp...was prev rez
will it hold..??
bad bounce off 7470 area...sellers in for a few..poss 7455
 
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