Weekly Wrap: Leaders And Laggards
Matt Simpson | Jul 14, 2014 01:33AM ET
A snapshot view of last week's money flow and technical notes for the week ahead.
KEY EVENTS THIS WEEK:
AUD: RBA Minutes; New motor vehicle sales; NAB quarterly business confidence
CAD: Manufacturing sales; Rate decision / statement; Core CPI; Wholesale sales
CHF: PPI
CNY: New Loans; GDP q/y; industrial production y/y; Fixed asset investment ytd; NBS press conferencel Retail sales
EUR: Draghi speaks; ZEW economic indicator; CPI / Core CPI y/y
GBP: CPI y/y; RPI Input; Carney speaks; Unemployment rate; Claimats amount
JPY: Monetary policy statement; Press conference
NZD: CPI q/q
USD: Core / Retail sales; FED Chair testifies; PPI; Building permits;
FOREX: W1 DXY Inside week and Spinning Top provide a neutral bias; However holding above 80 key level so potential for gains
AUD/USD Shooting Star and Inside week below 0.945 resistance warns of potential weakness below this key level
EUR/USD Inside week spinning top; Meanders around the 50wk eMA and ranging between 1.350 and 1.370 key levels; Neutral on W1
GBP/USD Hanging Man warns for potentials weakness; However trend still bullish and buy-setups may be considered above 1.70
USD/CAD Morning Star Reversal above last week’s Spinning Top Doji and TL from 2012; COTS suggests trend may return bullish
USD/CHF Inside week but above previous Bullish Hammer; Potential for continued gains above 0.895 resistance
USD/JPY Bearish outside week and at lower end of the 102-103 range; Neutral bias but with bearish undertone
NZD/USD Bullish trend and bullish close to 5-year highs; Continues to be favoured for 'buy the dip' strategies
COMMODITIES: W1
Gold Target remains $1350 and $1355 however the bullish move is losing momentum; Considering buy setups above $1330
WTI Most bearish close in 11 weeks and at 8-weel low; Intraday remains bearish below $101.50
Brent Most bearish weekly close in 27-weeks and resting on bullish trendline from April 2012; Downside break targets $103.80
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