FX News Today
USD slips again ahead of the FED and clarification over stimulus package. US Equities closed flat, (Verizon -3%, J&J +2.7%, GE +2.7% & MS) all beat Earnings expectations (MS up 6% after hours). Asian markets also flat. US Consumer confidence much better than expected. Overnight, AUD CPI improved, JPY data flat and German Consumer Confidence dropped significantly (-15.6 from -7.5). Vaccine rollout continues apace in the UK but the virus death toll passed 100,000 yesterday and unemployment hit a new record. Trump impeachment likely to fail as only 5 of the required 17 Senate Republicans agreed it should proceed.
This week – FED later Today, 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. Tracks lower from 90.60 high to trade at 90.15, – PP 90.30 – S1 89.95.55, R1 90.48
EUR – Back to to test 1.2165 now – PP – 1.2145, s1 1.2120, r1 1.2188
JPY – Remains under 104.000 – Trades at 103.65 (PP) – R1 103.76, S1 103.50
GBP – Back over 1.3700 to test 1.3760. PP – s1 13645, s2 1.3605
AUD – back over 0.7700 – trades at 0.7740 NZD – Over 0.7200 – trades at 0. 7225 CAD – holds over 1.2700 – trades at 1.2718 CHF – declined from test of 0.8900 to 0.8865 now (s1)
BTC – Pivots through $31,800. – R1 today $32,500, S1 30,000
GOLD – Holds and pivots at 1850 – (1861 high yesterday) PP 1856, s1 1847, USOil – Trades at $52.95 (R1) Today PP 52.65, S1 52.10
USA500 – Closed down 5 (-0.15%) 3849 – USA500 FUTS now at 3850 – 58 days north of 20SMA (3796).
Today – US Durable Goods, DoEs, FOMC rate decision & Fed Chair Powell press conference, NZ trade, ECB’s Hakkarainen, Lane, Earnings from Apple, AT&T, Facebook, Boeing, Tesla, Blackstone
Biggest (FX) Mover @ (07:30 GMT) GBPCAD (+0.28%) Rallied from open today following break of 20hr MA yesterday. Support now PP 1.7435 andn testing R1 at 1.7490. . Fast MAs aligned and trending higher, RSI 70 rising & testing OB zone, MACD histogram & signal line aligned higher and significantly north of 0 line. MFI in OB zone from earlier. H1 ATR 0.0012, Daily ATR 0.0103.
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Stuart Cowell
Head Market Analyst
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