EURUSD test 50% retracement and option level at 1.2300.

$2.8B at 1.2300 levelThe EURUSD has moved lower and is down testing the 50% retracement at 1.2300 level. That is also the home of $2.8B of option expires (as per Mike’s earller report).The IP and Capacity Utilization data has just come out stronger than expectations and that has pushed the price of the EURUSD below […]

White House chief of staff could quit today — report

John Kelly may be on the way out The on-again, off-again reports about H.R. McMaster are continuing. CBS now reports that he could be out today after all.   «It all depends on President Trump’s volatile mood and available, willing replacements,» according to the report. They say he is likely to be replaced by John […]

USD demand and option interest sends EURUSD back down through 1.2300

Session lows of 1.2297 now posted 16 MarchI warned earlier about option-related sell interest at 1.2350 capping the rally after large erly support below 1.2300 ,also option-related.Some general USD demand prevailing too that sees USDJPY testing 105.85 resistance ahead of option interest of its own at 106.00. I also warned of decent support/bids between 105.50-60 so […]

NY Fed business activity index 11.2 vs 15.9 prior

NY Fed survey Business climate 7.7 vs 21.1 prior Employment 17.9 vs 15.5 prior Wages 43.1 vs 41.7 prior Prices paid 49.1 vs 56.1 prior Capital spending 17.2 vs 21.5 prior Full report This indicator doesn’t get much attention but it’s another input. A few recent data points have shown a bit less enthusiasm than […]

Canada January mftg sales mm -1.0% vs -0.9% exp

Canada January mftg sales data now out 16 March -0.1% prev revised up from -0.3% Softer headline more than tempered by better revision. Declines in the motor vehicles, the aerospace product and parts, as well as the primary metal industries were responsible for the overall drop. Overall, sales were down in 14 of 21 industries, representing 56% of the Canadian […]

US February housing starts 1236K vs 1290K expected

US housing starts for February 2018 Prior was 1326K (revised to 1329K) Starts down 7.0% m/m vs -2.7% expected Building permits 1298K vs 1320K expected Prior permits 1396K (revised to 1377K) Permits -5.7% vs -4.1% exp That’s not a great signal on housing but there is a strong, steady trend in housing for years so […]