Market News Today – USD holds its bid, big bounce back from Nasdaq (+3.69%, AAPL +4.06%, TSLA +19.64%, NIO +17.45%), Yields consolidate around 1.55%. Stimulus bill will pass into law later today. Nikkei closed flat. Overnight – Chinese CPI & PPI better than expected, RBA Lowe – would not say AUD is overvalued, but “comfortable” lower than last week. Gold bounced from key level ($1685), USOil drifted lower towards $63.00, BTC hit 55K.
USDIndex – Fell from 92.50 yesterday – today PP at 92.15
EUR – Tested back to 1.1900 yesterday – but back down again now at PP 1.1880 JPY – Retreats from 9-mth high at 109.20. Now 108.80 (PP 108.70, R1 109.00 GBP – Test of 1.3800 held again yesterday and rallied to 1.3915. Now at PP 1.3870
AUD – under 0.7700 to 0.7685 (PP) – s1 0.7645, R1 0.7750 NZD – rose from test of 0.7100 yesterday to -0.7180. – Trades at 0.7145 CAD – rose from test of 1.2600 (S1) to 1.2660 now. PP 1.2630, r1 1.2690. CHF – Holds back at 0.9300 after rally to 0.9375 yesterday – PP 0.9325.
BTC – held $50k yesterday, has rallied to R3 at $54,400. PP today at $50,600
GOLD – rallied from below important May & June lows at $1685 yesterday to 1720 earlier. Trades at $1715 now. USOil – down again to test $63.50 and the 200Hr MA – S1 $63.00. PP $64.45
USA500 – +54.09 (+1.42%) 3875. – USA500 FUTS now at 3860. – 20SMA (3878). 50SMA 3850
Today – US CPI (13:30 GMT), BoC Rate decision (15:00), Weekly Oil Inventories and – key today – Auction of $38 billion US 10-year Treasuries (18:00).
Biggest (FX) Mover @ (07:30 GMT) AUDUSD (-0.45%) Moved lower following LOWE comments. Under 0.7700 from 0.7820 highs yesterday, under PP (0.7865) earlier. Faster MAs aligned and lower but turning neutral, RSI 48 and neutral, MACD histogram & signal line aligned lower and attempting to break 0 line. Stochs rising from OS zone. H1 ATR 0.0012, Daily ATR 0.0098.
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Stuart Cowell
Head Market Analyst
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