FX News Today
USD & JPY stage a wee comeback. US Equities had a very volatile day – (Huge surge in Options trading) US Futures down and Asian markets weaker – amid fears of a delay in stimulus programs and warnings of asset bubbles in China weighed. In Europe, virus developments remain in focus with clear signs that lockdowns are working in new infection numbers, but worries about the impact of virus mutations and in the EU dissatisfaction with the slow rollout of vaccines. Yellen confirmed as Treasury Secretary, Trump impeachment passed to the Senate, Italian PM Conte quits and NZD & China sign new trade deal.
This week – FED on Wednesday, GDP from EU & US and a big week for US Earnings – FB, Microsoft, Tesla, Apple and DAVOS goes on-line.
USDIndex – Holds over 90.00. Trades to 90.50, – PP 90.30 – R1 90.55, R1 90.70
EUR – Back to 1.2115 now – PP – 1.2145, s1 1.2106, S2 1.2077
JPY – Remains under 104.000 – Trades at 103.75 (PP) – S1 103.60, r1 103.88
GBP – Back to test 1.3612 (low from Thursday) form 1.3720 high yesterday. – s1 13645, s2 1.3605
AUD – Under 0.7700 – trades at 0.7675 (S1) now. S2 0.7654, NZD – Under 0.7200 – trades at 7170 (s1) S2 – 0.7146 CAD – rallies over 1.2700 – trades at 1.2775 (R1). r2 1.2830 CHF – rallied from 0.8850 to 0.8890 now. – PP 0.8875 – R1 0.8900
BTC – Retraces back to S1 at $31,500. – PP today $33,200, s2 sub $30,000 – $29,900
GOLD – Holds over 1850 – (1869 high yesterday) PP 1856, s1 1845, R1 1866 USOil – Trades at $52.45 (PP) Today s1 52.15, r1 53.15
USA500 – Closed up 13 (+0.36%) 3855 – USA500 FUTS now at 3834 – 57 days north of 20SMA (3789).
Today – UK jobs report, US consumer confidence, ECB’s Villeroy, Earnings – Microsoft, Verizon, General Electric, Johnson & Johnson, Lockheed Martin, 3M, Starbucks, Raytheon, LVMH, UBS and Novartis
Biggest (FX) Mover @ (07:30 GMT) AUDJPY (-0.41%) Rejected 80.30 yesterday, broke 20 & 200hr MA and 80.00 to test to 77.75 low. Recovered into 80.0 at close but has moved below S1 and yesterday’s low to 79.70. Fast MAs aligned and trending lower, RSI 35 and falling, MACD histogram & signal line aligned lower and remain south of 0 line from the breach of 80.00 yesterday. Stochastics in OS zone from earlier. H1 ATR 0.1004, Daily ATR 0.5780.
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Stuart Cowell
Head Market Analyst
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