LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)

Oct-12 05:18
Date Time Country Event
12-Oct 0840 EU ECB's Elderson attends EC Summit
12-Oct 1200 EU ECB's Panetta participates in IMF Panel
13-Oct 0745 FR HICP (f)
13-Oct 0800 ES HICP (f)
13-Oct 1000 EU Industrial Production
13-Oct 1400 EU ECB's Lagarde participates in IMF seminar
16-Oct 0900 IT Italy Final HICP
16-Oct 1000 EU Trade Balance
17-Oct 1000 DE ZEW Current Conditions / Expectations Index
17-Oct 1800 EU ECB's De Guindos Speech at Conference
18-Oct 1000 EU HICP (f) / Construction
19-Oct 0745 FR Manufacturing Sentiment / Retail Sales
19-Oct 0900 EU EZ Current Account
20-Oct 0700 DE PPI
23-Oct 1500 EU Consumer Confidence Indicator (p)

Historical bullets

LOOK AHEAD: Eurozone Timeline of Key Events

Sep-12 05:18
Date Time Country Event
12-Sep 0900 ES HICP (f)
12-Sep 1105 DE ZEW Current Conditions/Expectations Index
13-Sep 1100 EU Industrial Production
13-Sep - EU EC State of the Union Address
14-Sep 1415 EU ECB Deposit/Main Refi/Marginal Lending Rate
14-Sep 1615 EU ECB's Lagarde speaks at Podcast
15-Sep 0845 FR HICP (f)
15-Sep 1000 IT Italy Final HICP
15-Sep 1100 EU Trade Balance / Labour Force Survey (Q2)
15-Sep 1145 EU ECB's Lagarde & Panetta speak in Spain
18-Sep 1100 EU ECB's de Guindos Speaks at Event
19-Sep 1000 EU EZ Current Account
19-Sep 1100 EU HICP (f)
19-Sep 1430 EU ECB's Elderson Speaks at Banking Union Conference

USDJPY TECHS: Trend Direction Remains Up

Sep-12 05:15
  • RES 4: 148.85 High Oct 31 2022
  • RES 3: 148.60 2.236 projection of the Jul 14 - 21 - 28 price swing
  • RES 2: 148.40 High Nov 4 2022
  • RES 1: 147.87 High Sep 7 / 8
  • PRICE: 146.75 @ 06:15 BST Sep 12
  • SUP 1: 145.91/07 Low Sep 11 / High Jun 30
  • SUP 2: 144.45 Low Sep 1 and key support
  • SUP 3: 144.17 50-day EMA
  • SUP 4: 142.41 Low Aug 8

The USDJPY trend condition remains bullish and the latest pullback is considered corrective. Resistance at 147.37, the Aug 29 high and a bull trigger, was breached last week. This confirms a resumption of the uptrend and opens 148.40 next, the Nov 4 2022 high. On the downside, 144.45 represents the key short-term support, the Sep 1 low. A break of this level is required to highlight a short-term top.

GILT TECHS: (Z3) Recent Gains Considered Corrective

Sep-12 05:13
  • RES 4: 96.19 High Jul 31(cont)
  • RES 3: 95.82 High Aug 10 (cont)
  • RES 2: 95.79 High Sep 1 and key resistance
  • RES 1: 94.95 High Sep 8
  • PRICE: 94.18 @ Close Sep 11
  • SUP 1: 93.36 Low Sep 6
  • SUP 2: 93.12 61.8 retracement of the Aug 17 - Sep 1 rally
  • SUP 3: 92.56 Low Aug 23
  • SUP 4: 91.47 Low Aug 17 and key support

The short-term outlook in Gilt futures remains bearish, despite the latest recovery. A move lower earlier last week resulted in a break of support at 94.14, the Aug 29 low. The breach undermines the recent bullish theme and highlights potential for a deeper retracement with next key support at 93.12, a Fibonacci retracement. On the upside, key short-term resistance is 95.79, the Sep 1 high. Clearance of this level would reinstate a bullish theme.