Short recap
China in green after one week off
Europe in red
US/CA/JP
markets closed on account
of Columbus day/Thanksgiving/Health-Sports day
US banks/Trys
closed but stocks open
NFPs good on earnings, the rest is a question of
interpretation (hurricanes, steady jobs growth…etc.)
But USD not
taking any clues
Should have quiet trading unless Catalonia
declares independence
Or Trump announces something out of ordinary on Iran
nuclear deal
EU having two issues at political level –
Catalonian independence and how to handle it
And the rise of populism in Italy ahead of next year’s
elections
Still Brexit ongoing while German economy at full speed
with French numbers getting better as well
Brexit – no deal planning underway on UK side
Deutsche Borse working hard on moving euro
clearing out of UK
Equities
Honeywell planning spin offs to streamline the
business
Tesla benefiting from Puerto Rico need to restore
power
Airbus living turbulent times (investigation of
corruption)
Boeing injected GBP 100 into Monarch Airlines
Automation companies to benefit another
winner of Trump’s tax plan
Activist investors looking to unlock value
of Canadian real estate market
Earnings season is back
Sentiment is strong, valuations highs
Thus companies must deliver to justify valuations
Reporting this week: BlackRock, Delta Air Lines,
JPMorgan, Citigroup, BofA, Wells Fargo
JPM, Citi expecting lower trading revenues,
BofA to benefit from cost cutting and expanding in retail
Wells Fargo – sales scandal/reputation issues
still up in the air
Bonds
10-yr Trys yield at 2.36% - finished the week
lower on NFPs
10-yr Bund yield at 0.46%
COT report (as of Tue last week)
EUR longs at 91k vs 88k previous week
JPY shorts at 85k vs 71k previous week
GBP longs at 20k vs 5k previous week
EURUSD
EZ growth ok, CH private investors buying more assets
abroad without hedging, some legacy shorts to be still closed out thus dips an
opportunity to establish longs for 1.2500 (Source: Morgan Stanley)
Resistance at 1.1750 (200 HMA), 1.1755 (10 DMA), 1.1780
Support at 1.1720 (38.2% Fibo), 1.1714, 1.1699 (200 WMA)
USDJPY
Peaking and may loose momentum as per daily chart/MACD
Resistance at 113.00, 113.25 followed by 113.57
Support at 112.62 (10 DMA), 111.89 (200 DMA)
Gold
Managed to jump off the lows around 1263
On potential new NoKo nuclear test and lower USD
Resistance at 1296 (50 DMA), 1299 (38.2% Fibo)
Support at 1281 (50.0% Fibo), 1279 (10 DMA), 1273 (100
DMA), strong at 1268 (38.2% Fibo of Dec-Sep rally), 1263 (61.8% Fibo)
Data/events
US/CA/JP markets
closed
Oct 9-15 – IMF/WB
meeting
Eurogroup meeting
ECB’s Mersch (0745
GMT)
ECB’s
Lautenschlaeger (1200 GMT)
BoJ’s Kuroda (2030
GMT)
Tue
Fed’s Kashkari
(1000 GMT)
Fed’s Kaplan (1200
GMT)
Wed
Fed’s Evans (0715
GMT)
FOMC Minutes
Fed’s Potter
Fed’s Bostic
Fed’s Williams
(1440 GMT)
ECB’s Praet (1450
GMT)
Thu
ECB’s Draghi (1030
GMT)
ECB’s Praet (1030
GMT)
Fed’s Brainard
(1030 GMT)
Fed’s Powell (1030
GMT)
ECB’s Coeure (1600
GMT)
ECB’s
Lautenschlaeger (1610 GMT)
Fri
Fed’s Rosengren
(0830 GMT)
ECB’s Constancio
(1015 GMT)
Fed’s Evans (1025
GMT)
Fed’s Kaplan (1130
GMT)
Fed’s Powell (1300
GMT)
Oct 18 – China
National Congress
Oct 22 – Japanese
elections
Oct 26 – ECB
Nov 1 – FOMC
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
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