Continuum Economics

September 10, 2024

North American Summary and Highlights 10 September

September 10, 2024 6:58 PM UTC

Overview - The USD was little changed on a quiet day, weaker versus the JPY but stronger versus the CAD.

Chart USD/CAD Update: Testing strong resistance at 1.3600/30

September 10, 2024 3:44 PM UTC

Cautious trade has given way to anticipated gains, as intraday studies tick higher

FX Daily Strategy: APAC, September 11th

September 10, 2024 3:20 PM UTC

US CPI the focus
More risk of market reaction on stronger data
GBP focus on GDP with firm tone intact
CHF strength reaching limits

Mexico CPI Review: 0% Inflation in August as Expected

September 10, 2024 1:53 PM UTC

Mexico's CPI remained flat in August, causing year-over-year CPI to drop from 5.6% to 5.0%. This stability was driven by a 0.7% decline in non-core CPI, while core CPI rose 0.2%. The Food and Beverages CPI fell 0.6%, reflecting easing pressure on agricultural goods. With the economy cooling, inflati

Chart AUD/USD Update: Prices remain under pressure

September 10, 2024 1:51 PM UTC

Little change, as mixed intraday studies keep near-term sentiment cautious

Chart EUR/JPY Update: Consolidating - studies under pressure

September 10, 2024 1:43 PM UTC

Cautious trade is giving way to a drift lower

Chart USD/JPY Update: Consolidating - studies under pressure

September 10, 2024 1:36 PM UTC

Little change, as prices extend cautious trade around 143.00

Chart USD Index DXY Update: Consolidating gains - studies improving

September 10, 2024 12:49 PM UTC

The break above 101.50 has given way to consolidation around 101.60

Preview: Due September 11 - U.S. August CPI - Subdued, if marginally stronger than in the preceding three months

September 10, 2024 12:39 PM UTC

We expect August’s CPI to increase by 0.2% both overall and ex food and energy, with the respective gains before rounding being 0.18% and 0.21%. Such an ex food and energy rate would be slightly stronger before rounding than in the preceding three months, though not strong enough to trouble the

U.S. August NFIB survey - Loses momentum after stronger July

September 10, 2024 12:25 PM UTC

After picking up in the four months to July, which saw the highest level since February 2022, August’s NFIB Small Business Optimism Index has taken a hit, slipping to 91.2 from July’s 93.7, moving marginally below June’s 91.5 too.

Chart USD/RUB Update: Strong resistance at 92.0000-92.4200

September 10, 2024 11:40 AM UTC

Little change, as prices extend consolidation following the break above 90.0000

Chart EUR/PLN Update: Potential for a minor test higher

September 10, 2024 11:18 AM UTC

Little change, as mixed intraday studies keep near-term sentiment cautious and extend choppy trade above 4.2750

Chart USD/ZAR Update: Consolidating - daily studies improving

September 10, 2024 10:43 AM UTC

Little change, as mixed intraday studies keep near-term sentiment cautious

Chart EUR/CAD Update: Consolidating - studies under pressure

September 10, 2024 10:13 AM UTC

Little change, as unwinding oversold intraday studies and the flat daily Tension Indicator keep near-term sentiment cautious

Psychology for major markets September 10th

September 10, 2024 10:11 AM UTC

USD risks still mainly to the downside

Europe Summary and Highlights 10 September

September 10, 2024 10:08 AM UTC

EUR/GBP and EUR/NOK both moved lower in what was otherwise a fairly quiet European morning session.

FX Daily Strategy: N America, September 10th

September 10, 2024 9:00 AM UTC

GBP slightly firmer after UK labour market data
NOK bounces after short lived dip on weaker CPI
JPY remains well bid but upside break unlikely short term

Chart EUR/CHF Update: Further consolidation - background remains under pressure

September 10, 2024 8:28 AM UTC

Little change, as mixed intraday studies keep near-term sentiment cautious

Chart USD/CHF Update: Potential for a test above 0.8500

September 10, 2024 8:14 AM UTC

Little change, as prices extend cautious trade beneath congestion resistance at 0.8500

Chart EUR/GBP Update: Turning away from 0.8450

September 10, 2024 8:03 AM UTC

Little change, as prices extend cautious trade beneath resistance at 0.8450

Chart EUR/USD Update: Pressuring the 1.1040 Fibonacci retracement

September 10, 2024 7:41 AM UTC

Little change, as oversold intraday studies keep near-term sentiment cautious

Chart GBP/USD Update: Limited tests higher - studies under pressure

September 10, 2024 7:33 AM UTC

The anticipated break below 1.3100 has bounced from 1.3055/60

Chart GBP/JPY Update: Higher in consolidation from 186.40 low

September 10, 2024 7:14 AM UTC

Turned up from the 186.40 low to consolidate losses and unwind oversold intraday studies

Chart AUD/JPY Update: Corrective bounce from 94.67 low, but gains seen limited

September 10, 2024 6:29 AM UTC

Limited on break of the 95.00 level as prices stabilized at the 94.67 low

NOK flows: NOK resilient after slightly softer CPI

September 10, 2024 6:27 AM UTC

NOK dips slightly on CPI but reocvers quickly and remains too weak relative to yield spreads

GBP flows: GBP slightly firmer after labour market data

September 10, 2024 6:19 AM UTC

UK labour market data was mixed, and mild GBP strength unlikely to extend far

Chart USD/CNH Update: Extending gains from 7.0710 low

September 10, 2024 6:03 AM UTC

Bounce from the 7.0710 low to regain the 7.1200 level see prices poised for retest of the 7.1310 then the 7.1400 resistance

Chart USD/INR Update: Consolidating, but pressure remains on the upside

September 10, 2024 5:29 AM UTC

Little change, as prices extend consolidation below the 83.9850 all-time high

Asia Summary and Highlights 10 September

September 10, 2024 5:18 AM UTC

Australian September Westpac Consumer Confidence Index 84.6
Australian August business confidence -4
Japan PM contender Kato wants Japanese to have higher wages

FX Daily Strategy: Europe, September 10th

September 10, 2024 5:08 AM UTC

GBP has some downside risks on UK labour market data
NOK still looks cheap unless CPI surprises on the downside
JPY remains well bid but upside break unlikely short term

USD/JPY flows: Little changed

September 10, 2024 5:08 AM UTC

Japan PM contender Kato wants Japanese to have higher wages

Chart USD/IDR Updates: Turned up in consolidation from 15360 support

September 10, 2024 3:13 AM UTC

Steadied at the 15360 support and bounce here keep the August YTD low at 15300 out of reach

AUD/USD flows: Minor Rebound

September 10, 2024 3:08 AM UTC

Australian September Westpac Consumer Confidence Index 84.6
Australian August business confidence -4

Chart USD/THB Update: Extending gains from 33.35 low

September 10, 2024 3:04 AM UTC

Pressure remains on the upside and break above the 33.83 resistance see room to extend gains from the 33.35 low of Friday

Chart USD/KRW Update: Still room to extend gains

September 10, 2024 2:47 AM UTC

Pressure remains on the upside and clear break of the 1340.00/1343.00 resistance see room to extend gains from the 1318.00 low

Chart USD/SGD Update: Extending gains, focus on 1.3100/15 resistance

September 10, 2024 2:34 AM UTC

Prices still extending bounce from the 1.2953 low with positive daily studies suggesting room for further gains

Chart GBP/USD Update: Under pressure, room to 1.3045/35 support

September 10, 2024 2:03 AM UTC

Prices remains under pressure and break of he 1.3100 level extend the rejection from the 1.3239 high of Friday

Chart EUR/USD Update: Under pressure, 1.1026 low at risk

September 10, 2024 1:42 AM UTC

Prices remains under pressure following rejection from the 1.1155 bounce high of Friday with the 1.1026 low back in focus

Chart EUR/JPY Update: Scope to extend bounce from 157.30 support

September 10, 2024 1:28 AM UTC

Edged up from test of the 157.30 support to consolidate at the 158.00 level

Chart USD/JPY Update: Scope to extend corrective bounce

September 10, 2024 1:16 AM UTC

Range-bound in consolidation from the 142.00/141.69 lows

Chart NZD/USD Update: Weighing on the .6130 support, break in focus

September 10, 2024 12:47 AM UTC

Prices remains under pressure to extend pullback from the .6300 high to reach the .6150/30 support and 38.2% Fibonacci level

Chart AUD/USD Update: Weighing on .6650/40 support, risk of break

September 10, 2024 12:24 AM UTC

Under pressure as prices extend pullback from the .6824 high to weigh on the .6650/40 support and 38.2% Fibonacci level

September 09, 2024

FX Daily Strategy: Asia, September 10th

September 9, 2024 9:00 PM UTC

GBP has some downside risks on UK labour market data
NOK still looks cheap unless CPI surprises on the downside
JPY remains well bid but upside break unlikely short term

Chart USD/BRL Update: Choppy in range - daily studies mixed/negative

September 9, 2024 3:48 PM UTC

The break below 5.6000 has bounced from 5.5300

Chart USD/CAD Update: Consolidating gains - strong resistance at 1.3600/30

September 9, 2024 3:31 PM UTC

Little change, as flattening overbought intraday studies prompt consolidation beneath resistance at 1.3600

FX Daily Strategy: APAC, September 10th

September 9, 2024 3:05 PM UTC

GBP has some downside risks on UK labour market data
NOK still looks cheap unless CPI surprises on the downside
JPY remains well bid but upside break unlikely short term

Chart AUD/USD Update: Room for still lower

September 9, 2024 2:03 PM UTC

The anticipated break below 0.6700 has reached congestion support at 0.6650

Chart EUR/JPY Update: Under pressure

September 9, 2024 1:25 PM UTC

The bounce from above the 157.29 low of 6 August is giving way to a pullback from beneath resistance at 159.00

Chart USD/JPY Update: Choppy in range - studies remain under pressure

September 9, 2024 1:16 PM UTC

The smart bounce from 142.00 is meeting selling interest just beneath congestion resistance at 144.00

Chart USD Index DXY Update: Room for higher - studies improving

September 9, 2024 1:06 PM UTC

Cautious trade has given way to further gains