Sample Category Title

GBP/USD - 1.2984

Most recent candlesticks pattern   : N/A

Trend                                 : Near term up

Tenkan-Sen level                 : 1.2979

Kijun-Sen level                    : 1.2998

Ichimoku cloud top              : 1.2996

Ichimoku cloud bottom        : 1.2969

New strategy  :

Stand aside

Position : -

Target :  -

Stop : -

Despite yesterday’s rise to 1.3043, as cable has retreated after faltering below indicated resistance at 1.3048 (last week’s high), retaining our view that further choppy trading below this level would be seen and pullback to 1.2950 cannot be ruled out, however, reckon downside would be limited to 1.2920-25 and said support at 1.2889 should remain intact, bring another rebound later.

On the upside, only a break of said resistance at 1.3048 would confirm recent upmove has resumed an extend further gain to 1.3075-80 and possibly towards 1.3100-10 later. As near term outlook is mixed, would be prudent to stand aside in the meantime.

EUR/USD - 1.1247

Most recent candlesticks pattern   : N/A

Trend                      : Up

Tenkan-Sen level              : 1.1240

Kijun-Sen level                  : 1.1213

Ichimoku cloud top             : 1.1179

Ichimoku cloud bottom      : 1.1144

New strategy  :

Stand aside

Position : -

Target :  -

Stop : -

Although the single currency has maintained a firm undertone after recent rally and near term bullishness remains for recent upmove to extend gain to 1.1260-65, reckon upside would be limited to 1.1280-85 (61.8% projection of 1.0839-1.1172 measuring from 1.1076) and loss of near term upward momentum should prevent sharp move beyond 1.1300-10, risk from there is seen for a retreat later. 

In view of this, would not chase this rise here and would be prudent to stand aside in the meantime. Below the Kijun-Sen (now at 1.1213) would bring pullback towards support at 1.1161 but break there is needed to signal top is formed, bring retracement of recent rise to 1.1125-30 first. 

USD/JPY - 111.16

Most recent candlesticks pattern   : N/A

Trend                      : Near term down

Tenkan-Sen level              : 111.04

Kijun-Sen level                  : 111.20

Ichimoku cloud top             : 111.30

Ichimoku cloud bottom      : 110.99

Original strategy  :

Sell at 112.05, Target: 110.85, Stop: 112.40

Position :  -

Target :  -

Stop : -

New strategy  :

Sell at 112.05, Target: 110.85, Stop: 112.40

Position :  -

Target :  -

Stop : -

The greenback has remained confined within near term established range and further sideways trading within this familiar range would be seen and another corrective bounce to resistance at 111.74 is likely, however, reckon upside would be limited to 112.00-05 (50% Fibonacci retracement of 113.85-110.24) and bring another decline later, below 110.70-75 would suggest the rebound from 110.24 has ended, bring retest of this level first.

In view of this, would be prudent to sell dollar on further subsequent recovery as 112.05-10 should limit upside and bring another decline. Above 112.35-40 would defer and signal low is formed instead, risk a stronger rebound to 112.65-70.

EUR/USD

The EUR/USD pair keeps rallying to fresh 2017, pretty much daily basis, trading this Monday as high as 1.1263, before settling around 1.1240. The absence of macroeconomic data in the EU maintained the pair ranging early London, but buyers seize their chances after comments from German's Chancellor Angela Merkel hit the wires, blaming the ECB on EUR's weakness, when referring to the country's trade surplus. The headline was enough to bring buyers back. There were no relevant news in the US either, with a couple of Fed's member speaking in different events that had nothing to do with economic policies, with only Kaplan referring to rates, reiterating the usual stance that three rate hikes are appropriated. This Tuesday, focus will be on May´s preliminary Markit PMIs, for the EU and the US, whilst this last will also release New Home Sales and the Richmond manufacturing index.

Technically, the bullish tone persists, although due to the limited intraday range and the late retracement in the US afternoon, indicators in the 4 hours chart have lost upward strength, although the RSI remains within overbought territory. In the same chart and early decline was reverted on an approach to a bullish 20 SMA, currently providing support at 1.1165. Beyond the daily high, the pair has room to extend its advance up to 1.1300, where it topped early November as an immediate reaction to US election, while further gains will likely see the pair reaching the 1.1340 region this Tuesday. A deeper correction could take place on a break below 1.1160, with scope then to revisit the 1.1080 region.

Support levels: 1.1200 1.1160 1.1120

Resistance levels: 1.1260 1.1300 1.1340

USD/JPY

The USD/JPY pair advanced modestly at the beginning of the day, following the release of Japanese trade balance figures, which missed expectations but anyway showed economic progress in the country. Exports were up in April by 7.5%, missing expectations of 7.8%, while imports rose by 15.1%, surpassing market's estimates of 14.8%. The final surplus in the mentioned month, shrank to ¥481.7B. The early advance was contained by selling interest around 111.60, with the pair later trapped between the positive tone of equities and dollar's weakness, falling down to 110.92, but regaining the 111.00 level ahead of the close. During the upcoming Asian session, the country will release the final revisions of March leading indexes, alongside with the May preliminary Markit PMI, expected at 52.9 from a previously revised 52.7. The pair settled a couple of pips below a key static resistance, the 111.20 region where in the 4 hours chart, the 200 SMA converges with the 50% retracement of the latest bullish run. In the same chart, the Momentum indicator has turned south around its 100 level, while the RSI indicator consolidates around 40, all of which supports additional declines on another downward acceleration below the 111.00 figure.

Support levels: 111.00 110.50 109.90

Resistance levels: 111.60 112.00 112.45

GBP/USD

The Pound started the week with a negative footing, but persistent dollar's weakness helped the GBP/USD pair to regain the 1.3000 level, in spite of Brexit turmoil. The pair gapped lower at the opening, undermined by Brexit's minister Davis, who said that the UK can leave the negotiation's table should the EU insist on the payment of a Brexit bill of around €100 billion. The pair fell to 1.2965 before stabilizing, regaining the upside ahead of Wall Street's opening as the market resumed dollar's selling. The issue, however, remains as a Damocles' sword pending above Pound, as EU's chief Brexit negotiator, Michel Barnier, reiterated this Monday that there won't be any trading arrangement discussion until the accounts are settled. From a technical point of view, the pair holds a neutral stance, with the price barely above its 20 SMA, and the Momentum indicator heading nowhere around its mid-line, while the RSI also consolidates but around 56. The pair will likely retain the neutral stance ahead of the UK election, with a limited downward scope on persistent dollar's weakness.

Support levels: 1.2995 1.2960 1.2920

Resistance levels: 1.3060 1.3100 1.3135

GOLD

Gold prices regained the upside this Monday, with spot settling at $1,260.15 a troy ounce, its highest settlement in almost three weeks. Speculative interest continued dumping USD-related assets, favoring an advance in the safe-haven commodity, despite improved market sentiment. The dollar index fell to a fresh 2017 low of 96.65, reaching levels last seen in November and barely bouncing at the end of the day. Gold managed to shrug off Fed's rate hikes rhetoric, as Kaplan hit the wires by saying that three hikes remain appropriated. From a technical point of view, the daily chart shows that the index advanced above still directionless moving averages, although held below last week's peak of 1,264.95, while technical indicators have partially lost their upward strength, but remain well above their mid-lines. In the 4 hours chart, technical readings point to further gains, with the price now above its moving averages, and technical indicators heading north within positive territory.

Support levels: 1,251.45 1,245.40 1,237.40

Resistance levels: 1,264.95 1,273.10 1,282.40

WTI CRUDE OIL

Crude oil prices ended the day pretty much unchanged, with West Texas Intermediate futures settling at $51.02 a barrel after peaking at a fresh 5-week high of 51.41. Ahead of the OPEC Vienna summit to take place this week, market has already priced in an extension on the output cut deal, although for how long remains as the big question. Saudi Arabia and Iraq together back a nine-month extension, but news hit the wires earlier today that Iraq and Kuwait will be more comfortable with just a six-month extension. The black gold maintains the positive tone from a technical perspective, with the commodity ending the day right above its 100 DMA for the first time in over a month, while technical indicators have barely eased but remain near overbought levels. Shorter term, the 4 hours chart shows that technical indicators have corrected overbought readings before turning flat within positive territory, whilst the price remains well above its moving averages, suggesting that the risk remains towards the upside, despite the absence of upward momentum.

Support levels: 50.45 49.80 49.30

Resistance levels: 51.40 51.90 52.60

DJIA

Wall Street extended its rally this Monday, with the Dow Jones Industrial Average adding 90 points to end at 20,894.83, fully erasing last week's losses. The Nasdaq Composite added 59 points to 6,133.62, while the S&P settled at 2,394.02, up 0.52%. Almost all sectors advanced, with the energy one being a clear exception. Within the Dow, Boeing led advancers with a 1.55% gain, followed by Cisco Systems that added 1.38$. Pfizer was the worst performer, down 0.99%, followed by El du Pont that shed 0.57% and Chevron which lost 0.38%. DJIA's recovery was not enough to put it back in the bullish track, according to the daily chart, as the index stalled its recovery right below a modestly bearish 20 DMA, whilst the Momentum indicator turned flat below its 100 level, and the RSI indicator lost upward strength, now consolidating around 53. Shorter term, the 4 hours chart shows that the index held once again above the 20 and 200 SMAs, now struggling around a horizontal 100 SMA, while the RSI indicator heads north around 59 and the Momentum indicator retreats within positive territory.

Support levels: 20,770 20,718 20,641

Resistance levels: 20,857 20,905 20,960

FTSE100

The Footsie managed to add 25 points or 0.34% and close the day at 7,496.34, helped by the soft tone of the British Pound. Also, backing UK´s shares were the latest polls ahead of the election, which clearly show that Theresa May's Conservative Party is the favorite. Marks& Spencer led the way higher by rising 2.75% ahead of on Wednesday, and followed by Burberry Group that added 2.45%. Hikma Pharmaceuticals was the worst performer, ending the day down 4.61%. Commodity-related shares closed mixed, with Rio Tinto up 1.37% and Anglo American ending the day down 0.69%. Up for a second consecutive day, the index holds near record highs, and still bullish according to technical readings in the daily chart, as its also standing far above its moving averages, whilst the RSI indicator heads north around 66, as the Momentum consolidates near overbought levels. In the 4 hours chart, the upside is also favored, despite technical indicators lack directional strength within positive territory, as declines towards a bullish 20 SMA continue to attract buying interest.

Support levels: 7,495 7,462 7,435

Resistance levels: 7,534 7,570 7,605

DAX

European equities closed generally lower this Monday, reverting early gains after German Chancellor Merkel said that the common currency is 'too weak,' prompting a rally in the EUR against all of its major rivals. The German DAX ended at 12,619.46, down by 19 points or 0.15%, with RWE AG, a supplier of electricity and natural gas, leading advancers with a 3.11% gain. The worst performer was Merck, down 1.17%, while banks closed pretty much unchanged, with Deutsche Bank down 0.30% and Commerzbank adding 0.07%. The daily chart for the index shows that it held once again a few points above a bullish 20 DMA, while technical indicators have lost their upward strength, and turned modestly lower within neutral territory, indicating an increasing risk of an upcoming downward move. In the 4 hours chart, the index remains below a bearish 20 SMA, while technical indicators aim modestly higher within negative territory, hardly enough to support an upward move.

Support levels: 12,598 12,557 12,490

Resistance levels: 12,685 12,729 12,781

EURUSD

The EURUSD continued its bullish momentum yesterday topped at 1.1263. The bias remains bullish in nearest term testing 1.1300 – 1.1350 area. Immediate support is seen around 1.1210. A clear break below that area could lead price to neutral zone in nearest term testing 1.1175 support area but overall I remain bullish and any downside pullback should be seen as a good opportunity to buy. On the upside, a clear break and daily close above 1.1350 could trigger further bullish pressure testing 1.1600 region this week (weekly EMA 200).

GBPUSD

The GBPUSD was indecisive yesterday. The bias remains neutral in nearest term but overall I remain bullish. Immediate support is seen around 1.2950. A clear break below that area could trigger further bearish pressure testing 1.2900 and the trend line support as you can see on my H1 chart below, which is a good place to buy with a tight stop loss. On the upside, we need a clear break and daily close above 1.3050 to continue the bullish scenario testing 1.3185 area.

USDJPY

The USDJPY was indecisive yesterday. The bias is neutral in nearest term. As you can see on my H4 chart below, the trend line resistance and H4 EMA 200 are still being respected, keeps the false breakout bearish scenario remains valid targeting 108.00 region. Immediate support is seen around 111.00. A clear break below that area could trigger further bearish pressure testing 110.50 area. On the upside, a clear break back above the trend line resistance and 112.00 area would activate my wait and see mode as direction would become unclear.

USDCHF

The USDCHF was indecisive yesterday but overall still able to maintain its bearish bias. The bias remains bearish in nearest term testing 0.9650 as a part of the false breakout bearish scenario as you can see on my H4 chart below. Immediate resistance is seen around 0.9750/65 area. A clear break above that area could lead price to neutral zone in nearest term testing 0.9815 resistance area which is a good place to sell with a tight stop loss.

Weekly
    •    Last Candlesticks pattern: Long white candlestick
    •    Time of formation: 16 Jan 2017
    •    Trend bias: Down

Daily
    •    Last Candlesticks pattern: Long white candlestick
    •    Time of formation: 18 Apr 2017
    •    Trend bias: Near term up

GBP/USD – 1.3003

Cable found renewed buying interest at 1.2844 earlier and has resumed recent upmove as the pair broke above previous resistance at 1.2991, confirming recent upmove from 1.1986 low (Jan low) is still in progress and bullishness remains for this move to bring retracement of early downtrend, hence further gain to 1.3050-60, then 1.3100 would be seen, however, loss of near term upward momentum should prevent sharp move beyond 1.3140-50 (38.2% Fibonacci retracement of 1.5018-1.1986) and reckon 1.3200 would hold on first testing, risk from there is seen for a retreat to take place later.



On the downside, whilst initial pullback to the Tenkan-Sen (now at 1.2946) is likely, reckon downside would be limited to support at 1.2889 and bring another rise to aforesaid upside targets. Only a drop below support at 1.2844 would abort and suggest top is possibly formed, bring correction to 1.2800, then towards previous support at 1.2757 which is likely to hold from here, bring another rise later. A daily close below support at 1.2757 would provide confirmation, bring weakness to 1.2700-10 and then towards 1.2650-60 but previous resistance at 1.2616 should remain intact.  



Recommendation: Buy at 1.2900 for 1.3100 with stop below 1.2800.

On the weekly chart, as cable has maintained a firm undertone after recent rise, adding credence to our view that the erratic upmove from 1.1986 low (2017 low) is still in progress and bullishness remains for this move to bring retracement of early decline to 1.3090-00, however, reckon upside would be limited to 1.3140-50 (38.2% Fibonacci retracement of 1.5018-1.1986) and price should falter well below 1.3200-10, risk from there is seen for a retreat to take place later this month.  



On the downside, although initial pullback to 1.2940-50 cannot be ruled out, reckon downside would be limited to 1.2900 and bring another rise later. Below support at 1.2844 would defer and risk pullback to 1.2800 but only break of support at 1.2757 would provide confirmation, bring further fall to previous resistance at 1.2706, once this level is penetrated, this would provide confirmation, bring subsequent retreat to 1.2640-50. Looking ahead, a drop below another previous resistance at 1.2616 suggest the erratic rise from 1.1986 has ended instead, bring weakness to 1.2550-60 but reckon support at 1.2515 would remain intact.



Weekly
    •    Last Candlesticks pattern: Shooting star
    •    Time of formation: 7 Mar 2017
    •    Trend bias: Sideways

Daily
    •    Last Candlesticks pattern: Morning star
    •    Time of formation: 9 May 2017
    •    Trend bias: Near term up

USD/CHF – 0.9944

The greenback met heavy selling interest at 1.0100 earlier this month and has tumbled from there, the subsequent breach of previous support at 0.9813 confirms early decline from 1.0344 top (2016 high) has resumed and bearishness is seen for this move to extend further weakness to 0.9650, then towards 0.9600, however, near term oversold condition should prevent sharp fall below latter level and price should stay above 0.9550 support, bring rebound later.

On the upside, whilst initial recovery to 0.9800 is likely, reckon upside would be limited to 0.9850 and renewed selling interest should emerge around 0.9880-85, bring another decline later. A daily close above the Kijun-Sen (now at 0.9896) would defer and suggest a temporary low is formed instead, bring a stronger rebound to 0.9960 but reckon upside would be limited to the Ichimoku cloud (now at 0.9992-1.0018) and price should falter well below said resistance at 1.0100, bring another selloff.

Recommendation: Sell at 0.9885 for 0.9685 with stop above 0.9985

On the weekly chart, last week’s selloff formed a long black candlestick and the breach of previous support at 0.9813 confirms early erratic fall from 1.0344 top is still in progress, hence bearishness is seen for this move to bring retracement of early upmove to 0.9640-50, then 0.9600 but reckon downside would be limited to previous support at 0.9550 and price should stay above 0.9500, risk from there has increased for a strong rebound later.

On the upside, although initial recovery to 0.9825 and then 0.9850-55 would be seen, reckon upside would be limited to the Tenkan-Sen (now at 0.9900) and bring another decline later. Only above the Kijun-Sen (now at 1.0018) would abort and suggest a temporary low is formed instead, bring test of previous resistance at 1.0100 but a weekly close above there is needed to retain bullishness and signal the aforesaid decline from 1.0344 has ended, bring test of 1.0171 resistance next.

Market movers today

In the euro area, focus will be on the PMI figures and whether they can continue upwards, in cont rast to the weakness in manufacturing PMIs observed in the US and China in recent months. We expect a minor slowdown in the euro area PMIs, but note that the figures should remain at a high level and still show continued expansion.

The German ifo business confidence will also at tract attention today. Ifo estimates fell slightly in April to 105.2 from 105.7 in March. We may see a further small decline in German business expectations to 104.9 due to a softening of the business cycle indicators in the US and China, although there could be tailwind from the outcome of the French election.

In the UK, focus will be on the nature and impact of the terrorist at tack in Manchester. The UK government has announced that election campaigning is suspended today.

In the US, the Markit PMI (composite) is expected to show a modest increase as the current level only reflects around 1% GDP growth, which is below our expectation of a current underlying growth rate of around 2%. This would justify a modest rise in Markit PMI. US new home sales are estimated to show a small decline in April after some strong months in early 2017.

The Trump administ ration is expected to release its full budget today, which is expected to contain big cuts to safety net , tax cuts and USD100bn infrastructure projects over the next decade. One major assumption is that real GDP growth will increase to 3% due to supply side effects from the tax cuts, which in our view is doubt ful. We see difficulties in passing the budget given a divided Republican party in Congress.

In the Scandies, it is time for unemployment in Sweden, where we look for a small increase in unemployment.

Selected market news

The Asian equity markets are seeing small gains this morning following a terrorist at tack in Manchester that is said to have killed 19 and wound 50 people. Prime Minister Theresa May and her government have decided to suspend election campaigning today. The cautious risk sent iment follows a rather strong session in US equity markets as some of the concerns about the political upheaval in the US have faded. Furthermore, oil prices continued their recovery as markets are expect ing an extension of the OPEC deal on Thursday.

On Brexit , EU ministers endorsed t he EU's negotiation stance towards the UK yesterday. The EU maintained the maximum demands on the UK in terms of the financial liabilities and legacy obligations for EU citizens in the 'divorce' phase of the negotiations. The EU's lead Brexit negotiator Michel Barnier announced yesterday that the preferred strategy is to start the Brexit negotiations during the week of 19 June. Germany warned that the reality of Brexit had yet to 'break through' in London.

On Greece, euro area finance ministers failed to break an impasse on debt relief for Greece yesterday in Brussels. Talks will continue over the next few weeks with the objective of reaching an agreement in June. Meanwhile, the EU Commission announced yesterday that it recommends closing the Excessive Deficit Procedure for Portugal six years after its bailout , raising the prospect of a rat ing upgrade when Fitch reviews the country's rating on 16 June.

Asia Mid-Session Market Update: Japan manufacturing PMI slows to 6-month low; 19 killed in UK explosion investigated as terror attack

US Session Highlights

OPEC Sec Gen Barkindo: within OPEC and other oil-producing countries reached a growing consensus to extend production cuts

(US) Apr Chicago Fed National Activity Index: 0.49 v 0.10e

(IR) Iran President Rouhani: Iran will test missiles when needed and will continue ballistic missiles program; will not seek US approval to conduct tests

Stock continued to rise for a third consecutive day to start the week on a positive note. Investors were bullish, and the VIX fell back into the ~10.00 range. However, there was a sign of caution, as 10-year Treasury yields were only up 1.5bps as investor show no hurry to get rid of haven assets just yet, and the reflation trade takes a subdued tone. Best performing sectors in the S&P were Technology and Utilities, up 0.8% and 0.9% respectively.

US markets on close: Dow +0.4%, S&P500 +0.5%, Nasdaq +0.8%

Best Sector in S&P500: Technology

Worst Sector in S&P500: Energy

Biggest gainers: BRO +7.5%; QRVO +3.4%; ADSK +3.1%

Biggest losers: AAP -2.7%; TRIP -2.5%; MNK -2.5%

At the close: VIX 10.9 (-1.1pts); Treasuries: 2-yr 1.28% (flat), 10-yr 2.25% (+1bps), 30-yr 2.92% (+1bps)

US movers afterhours

A: Reports Q2 $0.58 adj v $0.48e, R$1.10B v $1.05Be; Guides Q3 $0.49-0.51 v $0.53e, R$1.06-1.08B v $1.08Be; +5.0% afterhours

TTWO: Weakness attributed to tech blog report 'Red Dead Redemption 2' release delayed to next year; Launch had been expected this fall; -8.2% afterhours

Key economic data

(JP) JAPAN MAY PRELIMINARY PMI MANUFACTURING: 52.0 V 52.7 PRIOR (6-month low; 9th consecutive expansion)

(AU) Australia ANZ Roy Morgan Weekly Consumer Confidence Index: 110.5 v 109.4 prior

(KR) South Korea Q1 Household Debt (KRW) q/q: 1.36T v 1.34T prior (fresh record high)

Asia Session Notable Observations, Speakers and Press

Asia indices trading mixed and US/Europe futures are slightly lower amid geopolitical concerns in UK and US. An explosion at a concert stadium in Manchester arena left 19 people killed and over 50 injured. Local police continues to investigate the cause of the explosion with a possible link to terror activity and a range of speculation in the media - from exploded transformer to a suicide nail bomb. Stateside, Washington Post reported that Pres Trump may have made requests back in March that Director of National Intelligence Coats and NSA director Rogers formally deny links between the Trump campaign and Russia. Report goes on to say that Rogers documented this contact in an internal memo which may be available to the special counsel and congressional investigators.

Also of note in US, White House summary documents disclosed the outline of Trump's budget proposal seeking $3.6T in cuts over the next 10 years. Military spending benefits at the expense of social program cuts targeting food stamps and Medicaid. The budget also outlines fairly rosy forward growth projections, with 2018 GDP seen at 2.4%, 2019 at 2.7% and 2021-and-beyond growth at 3% or more.

In FX, modest risk-off flows boosted JPY along with overall renewed selling in USD. USD/JPY fell as much as 50pips below 110.90, while AUD/USD and NZD/USD saw 3-week and 4-week highs respectively around 0.75 and 0.70.

In economic data, Japan flash May manufacturing PMI expanded for 9th straight month but also registered a 6-month low. Output, New orders, and employment components were all at Nov-lows, while input and output prices grew at a slower rate. Markit economist noted “wait-and-see” attitudes amongst clients, excess warehouse inventories undermining expansion.

China

(CN) PBOC Advisor Sheng Songcheng: Monetary policy adjustments is a trial and error process; The central bank will not excessively adjust monetary policy - China press

(CN) China insurance regulator CIRC: Insurers' risks are controllable; to increase risk analysis and checks - press

(CN) Various Chinese companies cancel planned bond sales on market volatility – US financial press

Japan

(JP) Japan said to target large increase in use of generic drugs - press

(JP) Japan Fin Min Aso: Will send a strong message about free trade at G7

BOJ likely to maintain JGB buying targets with yields moving closer to central bank's target - Nikkei

Australia

(AU) S&P: Number of delinquent loans underlying prime RMBS declined in Mar to 1.16% from 1.23% in Feb - press

Korea

(KR) S&P to visit South Korea as part of an annual review of the sovereign rating this week

(KR) South Korea denies JoongAng Ilbo report that President Moon Jae-in has written Pope Francis a letter asking him to mediate a summit between South Korea and North Korea

Asian Equity Indices/Futures (00:30ET)

Nikkei -0.1%, Hang Seng +0.3%, Shanghai Composite -0.1%, ASX200 -0.2%, Kospi +0.8%

Equity Futures: S&P500 -0.1%; Nasdaq -0.1%, Dax -0.1%, FTSE100 -0.1%

FX ranges/Commodities/Fixed Income (00:30ET)

EUR 1.1230-1.1255; JPY 110.85-111.35; AUD 0.7465-0.7505; NZD 0.6990-0.7020

June Gold flat at 1,262/oz; July Crude Oil -0.4% at $50.95/brl; July Copper -0.7% at $2.59/lb

SPDR Gold Trust ETF daily holdings rise 1.8 tonns to at 852.5 tonne; 1st increase since Apr 24th

(CN) PBOC SETS YUAN MID POINT AT 6.8661 V 6.8673 PRIOR; 2nd straight firmer Yuan fix

(CN) PBOC to inject combined CNY140B v CNY40B prior

Asia equities notable movers

Australia

OFX Group (OFX) +15.2%; Reports FY17

Woodside Petroleum (WPL) +0.3%; investor day comments

Japan

Sony (6758) +0.7%; Investor relations day comments

Fujifilm (4901) -1.2%; To further delay release of FY16/17 results

Hong Kong

Tai Ping Carpets (146) +4.3%; Strategic review update

Vanke (2202) +1.3; To spend CNY5B to form 2 investment funds with China Merchants Bank

Tingyi Holding (322) -3.4%; Reports Q1

Tongda Group (698) -17.1%; Weakness attributed to shorts targeting the company

For the 24 hours to 23:00 GMT, the AUD rose 0.17% against the USD and closed at 0.7453.

LME Copper prices rose 1.45% or $81.0/MT to $5677.0/MT. Aluminium prices rose 0.26% or $5.0/MT to $1943.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7496, with the AUD trading 0.58% higher against the USD from yesterday's close.

The pair is expected to find support at 0.7436, and a fall through could take it to the next support level of 0.7418. The pair is expected to find its first resistance at 0.7467, and a rise through could take it to the next resistance level of 0.7480.

Moving forward, Australia's Westpac leading index for April, due for release overnight, will be closely assessed by traders.

The currency pair is trading between its 20 Hr and 50 Hr moving averages.