FOREX: USDJPY Breaks to New Daily High on Equity Support
Dec-19 15:37
* USDJPY has cleared to new session highs as supportive equities, the not-so-hawkish BoJ hike and ...
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FOREX: CADJPY Approaching Clustered Resistance Zone
Nov-19 15:34
- With the Canadian dollar relatively outperforming its G10 peers on Wednesday, CADJPY has notably extended its most recent break above the years highs, which were located around 110.50.
- Today’s 0.52% advance has resulted in an additional breach of the November 2024 high, with spot rising to a high of 111.82 in recent trade. The move has significantly narrowed the gap to a notable cluster of resistance, with the cross now testing the top of a bull channel, drawn from the April lows.
- Above here, the July 30 2024 high is located at 112.10, which very closely coincides with the 61.8% retracement of the 2024-2025 downleg (shown below). Support for the cross moves up to 109.80, the 20-day EMA.
- We pointed out yesterday that moves have been bolstered by PM Mark Carney securing passage of the first federal budget of his tenure, ensuring the survival of his minority government. Furthermore, the fact that further BOC rate cuts are pretty much out of the question after October data provides a supportive CAD backdrop.
- Canada’s data calendar is relatively light this week, with September retail sales due on Friday.
MNI: US EIA: CRUDE OIL STOCKS EX SPR -3.43M TO 424.2M NOV 14 WK
Nov-19 15:30
- US EIA: CRUDE OIL STOCKS EX SPR -3.43M TO 424.2M NOV 14 WK
- US EIA: DISTILLATE STOCKS +0.17M TO 111.1M IN NOV 14 WK
- US EIA: GASOLINE STOCKS +2.33M TO 207.4M IN NOV 14 WK
- US EIA: CUSHING STOCKS -0.7M TO 21.8M BARRELS IN NOV 14 WK
- US EIA: SPR +0.53M TO 410.9M BARRELS IN NOV 14 WK
- US EIA: REFINERY UTILIZATION WEEK CHANGE +0.6% TO 90.0% IN NOV 14 WK
US TSY FUTURES: December'25-March'26 Roll Update
Nov-19 15:21
The latest Tsy quarterly futures roll volumes for December'25 to March'26 outlined below. Percentage complete gradually rising ahead the "First Notice" date of Friday, November 28. Current roll details:
- TUZ5/TUH6 appr 210,200 from -6.0 to -5.62, -5.75 last; 7% complete
- FVZ5/FVH6 appr 453,100 from -2.75 to -2.25, -2.25 last; 13% complete
- TYZ5/TYH6 appr 70,600 from 1.5 to 2.0, 2.0 last; 12% complete
- UXYZ5/UXYH6 43,600 from 5.25 to 5.5, 5.5 last; 5% complete
- USZ5/USH6 27,500 from 13.0 to 14.0, 13.75 last; 9% complete
- WNZ5/WNH6 appr 147,800 from 9.75 to 10.25, 10.0 last; 7% complete
- Reminder, Dec'25 futures don't expire until next month: 10s, 30s and Ultras on December 19, 2s and 5s on December 31. Meanwhile, Dec'25 Tsy options will expire this Friday, November 21
