Sep 14, 2017 - Market Update (Trump maturing, ECB not in a rush to hike, DAX at crucial 12 500, Back to Trump trade?, EURUSD at support zone 1.1 870/80, Amazon.com to sell sombreros, Munich Re hit by hurricanes, Oracle in the cloud)

Short recap

Asian down on weaker Chinese data

Europe opening mixed

Trump getting more experienced (less tweeting)

And starting meeting people (like Rep/Dem leaders) to move things forward

ECB to keep a steady hand on easy policy as inflation stays very low

Chinese steel mills production reaching record highs

Bitcoin on a weak foot after JPMorgan’s Dimon fraud comment

Historically, it is not the high valuations that trigger the stock market correction but the change in macro

Thus China and credit markets holding the key

Equities

EU short of EUR 5.4 bln from taxes from Google and Facebook

DAX at 12 500 – a crucial for further development

Apple likely to face delays in iPhone X shipping going to holiday season

Amazon.com to build a huge warehouse in Mexico

Kaspersky on the way out of US gov networks

Volkswagen along with FAW, SAIC recalling 4.9 mln cars

Munich Re hit by hurricanes

Oracle reporting today, market to check how successful their cloud business is. Expecting rise in revenue.

Bonds

10-yr Trys yield at 2.19% - seems comfortable within the 2.10-30 range

10-yr Bund yield at 0.40%

DXY

Can we expect a return of Trump trade? Tax reform, infrastructure and capital repatriation

All pointing to stronger economy and higher USD…

Strong support at 91.88 (2016 low), then 92.16 (10 DMA)

Resistance at 93.36 (50 DMA) and strong one at 92.74 (200 WMA)

EURUSD

Sitting at strong support zone 1.1870/80

Support provided also from rising trendline (since April) and 1.1862 (23.6% Fibo)

Next support 1.1752 (50 DMA), 1.1720 (38.2% Fibo)

Resistance at 1.1931 (10 DMA), 1.1940 (55 HMA)

USDJPY

Trading above 110.00

Support at 110.40 (76.4% Fibo),

Resistance at 110.55 (50 DMA), 110.97 (61.8% Fibo), 111.23 (Ichimoku cloud), 111.15 (100 DMA)

Resistance comes also from rising trendline forming triangle

Gold

Gold lower on higher USD despite stocks correcting

Support around 1300 but market may be comfortable at 1315 as well

Resistance at 1333 (10 DMA)      

Data/events

ECB’s Weidmann (1530 GMT)

ECB’s Mersch (1600 GMT)

Fri

ECB’s Lautenschlaeger (0815 GMT)

Sep 19-20 FOMC

Sep 21 – Brexit – a major speech from May expected

Is UK sort of reshuffling priorities or looking at a reset of talks?

Oct 18 – China National Congress

Oct 26 ECB

Should you have any questions feel free to contact me anytime.

Good luck Champs!

Mr Hawk

DISCLAIMER: This material was created for informational purposes only and represents the Land of Trading team’s view of the past and current economic and capital market environment. It is not an investment advice and should not be viewed that way at all, and the creators of this material cannot be held liable for any potential losses resulting from trading, where despite this disclaimer someone would consider this material as an investment advice. All rights reserved ©2016. Contact: landoftradingATgmailDOTcom