The Traderszone Network

Closing near session highs
– -37.13
– open 20540.21
– high 20562.20
– low 20396.50
– USDJPY  124.05

The dollar is stuck in the doldrums against the yen, caught between two key technical indicators suggesting it will remain in a range until U.S. jobs data this week, according to IG Markets Securities Ltd.

FRANKFURT/HELSINKI (Reuters) – A consortium of German premium carmakers has agreed to buy Nokia’s (NOK1V.HE) mapping business HERE for 2.5 billion euros ($2.74 billion), in a push to extend the reach of automakers into digital services for connected cars. The Finnish network equipment maker said the transaction has an enterprise value of 2.8 billion euros, which includes the assumption of nearly 300 million euros in HERE liabilities. “For the automotive industry this is the basis for new assistance systems and ultimately fully autonomous driving,” the buyers said in a joint statement.

HSBC Holdings (HSBA.L) said its first-half profit climbed a better than expected 10 percent, driven by a strong performance in Hong Kong that comes as the bank considers moving its headquarters to the Asian financial hub. HSBC also announced on Monday the sale of its Brazil unit to Banco Bradesco SA (BBDC4.SA), the country’s second-biggest private-sector bank, for a higher than expected 17.6 billion reais ($5.2 billion), as HSBC seeks to cut underperforming businesses.

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Greetings one and all
I hope you had a good and peaceful week-end
Data wise we have some PMIs coming up today to keep things ticking over
As always I wish you a good session

One of the assumptions about technical analysis’ efficacy is that history tends to repeat itself and, based on historical examples, the future can be anticipated with greater clarity than just hopeful guessing (a skill bulls exhibit with particular panache).

I tripped across an interesting example of this far afield from the world of finances. It has more to do with geopolitics. Check out this quote from a historian made before the cold war ever started and see if, based on what happened, it rings true (I’ve boldfaced some parts):

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USDJPY  none
– EURUSD 1.0975 (EUR 360m) 1.1000 (522m) 1.1050 (400m) 1.1125 ( 700m)
– GBPUSD 1.5700 (GBP 328m)
– AUDNZD
– EURJPY 138.35 (EUR 274m)
Thin list so far for today. Will check back later for updates