Browse Symbol Stacks: USDJPY: Blanks of the trader

Blanks of the trader

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In terms of last weeks setups only one of them on USD/JPY had stalled at 104's anticipated area, we have seen some selling pressure since, however it was not enough to take this pair much lower, as at stands at the moment we are testing 104.25 highs. EUR/USD did not respect 1.32's even handle level at all, so we are clearly past this level at this point. The key event for this pair this week will be rates announcement on Thursday, where we could hear more about QE plans from ECB. Volatility across the FX board will likely to be high this week as RBA will have it's rates decision on Tuesday for AUD, BOC on Wednesday for CAD and BOE on Thursday for GBP prior to ECB. 

Weekly Currency Board












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Short CAD/CHF long USD/CAD

Prime Risk Events (UTC time)  Monday HSBC China mfg PMI (August, final), 2.45am: No change is expected to this number, remaining at 50.3 for the month. Market to watch: Global indices, AUD/USD, copperGerman GDP (Q2, final), 7am: Growth is forecast to remain unchanged at -0.2% QoQ and 0.8% YoY. Market to watch: DAX, EUR/USD, EUR/GBPFrance, German, eurozone mfg PMI (August, final), 8.50am - 9am: These are expected to remain unchanged for the month. Market to watch: EU Stocks 50, DAX, CAC40, EUR/USD, EUR/GBPUK mfg PMI (August), 9.30am: After a reading of 55.4 in July, the number is forecast to drop back to 55 for August. Market to watch: GBP/USD, EUR/GBP Tuesday UK construction PMI (August), 9.30am: After coming in at 62.4 for July, the data is expected to show a slight drop, to 61.2. Market to watch: GBP/USDUS manufacturing PMI (August, final), 2.45pm: This data point is also forecast to remain at its previous reading, at 58. Market to watch: US indices, dollar crosses Wednesday China non-manufacturing PMI (August), 2am: From a reading of 54.2 in July, the index is expected to rise to 55.1 for August. Market to watch: global indices, AUD/USD, copperAustralian GDP (Q2), 2.30am: After rising 1.1% QoQ and 3.5% YoY in Q1, growth in the Commonwealth's economy is forecast to slow to 0.4% QoQ and 3% YoY. Market to watch: AUD/USD, S&P/ASX 200French, German, eurozone services PMIs (August, final), 8.50am - 9am: As with the manufacturing numbers earlier in the week, these indices are not forecast to change. Market to watch: EU Stocks 50, DAX, CAC40, EUR/USD, EUR/GBPUK services PMI (August), 9.30am: The most important of the UK PMI readings is expected to drop back to 58.45 from 59.1 in July. Market to watch: GBP/USD, EUR/GBPEurozone retail sales (July), 10am: This reading is expected to show a contraction of 0.2% MoM. Market to watch: EUR/USD, EUR/GBPBank of Canada rate decision (Sept), 3pm: The Canadian central bank is expected to leave rates at 1% for the month. Market to watch: USD/CADFederal Reserve Beige Book, 7pm: This informal survey of managers around the US economy should reflect the continued improvement in economic data from the world's largest economy. Market to watch: US indices, dollar crosses Thursday Bank of Japan statement (time tbc): It looks like the BoJ's asset purchase programme might need to be fired up again, as household spending continues to drop following the April sales tax. Market to watch: Nikkei 225, USD/JPY, other yen crossesBank of England rate decision (Sept), 12pm: Minutes last month showed two policy makers voting for a rate hike, but this meeting is still not expected to show any change in rates. Market to watch: GBP/USD, EUR/GBPECB rate decision (Sept), 12.45pm: The ECB is unlikely to move on QE, or indeed on rates, this month, despite the Jackson Hole speech and accompanying notes. With the TLTROs still to be activated (16th September) the likelihood is that Mario Draghi will still hint at further measures but only when the effects of the existing policies become clear. Market to watch: European indices, EUR/USD, EUR/GBPADP payroll change (August), 1.15pm: This number is released a day later than usual due to the Labor Day holiday on Monday. The expected figure is 215K, down from 218K last month. Market to watch: global indices, dollar crossesUS initial jobless claims, 1.30pm: After dropping to 298K last week, the figure is expected to bounce back to 303K. Keep an eye out for the four-week moving average number as well, which last week hit its lowest level since late 2006. Market to watch: US indices, dollar crossesUS services PMI (August, final), 2.45pm: This is forecast to remain unchanged from the earlier estimate. Market to watch: US indices, dollar crosses Friday US non-farm payrolls (August), 1.30pm: Official US job data is expected to show an increase of 220K jobs this month, from 209K last month, while the unemployment rate holds steady at 7%. Also watch for revisions to the figures for previous months.Market to watch: global indices, all major currency pairs, gold, oil, copper  EUR/CHF

In terms of the pattern setups two patterns looking to complete this week, see the charts below.


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