Trial now
JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

AUSSIE 3-YEAR TECHS

(Z1) Off Recent Highs

US 10YR FUTURE TECHS

(Z1)‌‌ Support Appears Exposed

CABLE
CABLE: GBP/USD fell afoul of the broader USD strength on Wednesday, last at
$1.3205, after a brief test of the July 09 low overnight ($1.3190), below which
the Jul 04 low/61.8% retracement of the move from $1.3050 to 1.3363 ($1.3171/70)
comes into play.
- Brexit developments remain front and centre. An FT report has suggested that
"Theresa May has abandoned plans for a tight new relationship with the EU in
financial services after Brexit, laying out a new proposal for a looser
partnership in her long-awaited white paper on Thursday." This comes after
reports suggested that EU officials have told businesses that chances of a hard
Brexit are as high as 50%. Elsewhere the Telegraph has reported that Donald
Trump may voice his support for a hard Brexit during his imminent visit to the
UK.
- Next week brings a raft of UK economic data, including CPI, the labour market
report & retail sales, which could cement/draw questions over a BoE rate hike at
its heavily awaited August MonPol meeting.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com