USD: Some Early quick Volatility in the EUR
It seems that the EUR had a quick blip an hour ago with some of the move likely attributed on Trump saying on Social media that:“I told the European Union that they must make up their tremendous deficit with the United States by the large scale purchase of our oil and gas. Otherwise, it is TARIFFS all the way!!!,”
Moves have been limited and had quickly reversed, but timing seems to match.
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Historical bullets
MNI: **MNI: UK OCT CPI +0.6% M/M, +2.3% Y/Y
- MNI: UK OCT CPI +0.6% M/M, +2.3% Y/Y
- UK OCT CORE CPI +0.4% M/M, +3.3% Y/Y
- UK OCT RPI +0.5% M/M, +3.4% Y/Y
- UK OCT SERVICES CPI +0.4% M/M, +5% Y/Y
GILT TECHS: (Z4) Bear Threat Remains Present
- RES 4: 96.65 High Oct 30
- RES 3: 95.83 Low Oct 10
- RES 2: 95.00 Round number resistance
- RES 1: 94.51/73 20-day EMA / High Nov 1
- PRICE: 94.15 @ Close Nov 19
- SUP 1: 92.97/53 Low Nov 14 / 6 and the bear trigger
- SUP 2: 92.23 2.236 proj of the Sep 17 - 30 - Oct 1 price swing
- SUP 3: 92.00 Round number support
- SUP 4: 91.75 2.3821 proj of the Sep 17 - 30 - Oct 1 price swing
The trend condition in Gilt futures remains bearish and the latest shallow recovery appears to be a correction. The contract has recently breached 92.99, a 2.00 projection of the Sep 17 - 30 - Oct 1 price swing. This signals scope for an extension towards 92.23, the 2.236 projection. The Oct 30 high of 96.65, is seen as a key short-term resistance where a break is required to highlight a reversal. Initial firm resistance to watch is 94.73, Nov 1 high.
JPY: USDJPY through Monday's high
Just flagging up the move higher in USDJPY here - it has moved above Monday's high of 155.356 to currently trade at 155.45. There still some way to go to Friday's high of 156.75, however. See the bullet below for our TA view on the yen.
