- FX – USDIndex continues to rotate in a wide arc around 104.00. EUR holds below 1.0700, remains capped at 1.0750 and trades at 1.0675. JPY cannot hold the 140.00 handle & is below 139.50, at 139.30. Cable holds over 1.2400 with the next resistance at the 1.2450 handle.
- Stocks – Wall Street traded positively (0.03% to 0.36%). US500 at new 2023 high (+0.24%) closed +10.02 pts at 4283, FUTS are trading at 4287, a ninth day above the key resistance at 4175 and a fifth day north of 4200.
- Commodities – USOil – Futures declined into the key $70.00 zone from $74.25 following the OPEC+ production cut announcement on Sunday, before recovering to $71.30 now. Gold – holds the key $1950 handle, and is capped at $1965 highs today.
- Cryptocurrencies–BTC plunged to $25.3k lows following the Binance and Coinbase news, but has recovered to $27k as Altcoins suffer more and Bitcoin gets first mover and largest market cap advantages.
Today – BoC Policy Announcement, remarks from ECB’s de Guindos, Knot & Panetta
Biggest FX Mover @ (06:30 GMT) NZDJPY (-0.46%) Rejected 85.00 again yesterday and has declined under 84.50 today. MA’s aligning lower, MACD histogram & signal line negative & declining, RSI 31.85 & declining, H1 ATR 0.103, Daily ATR 0.809.
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Stuart Cowell
Head Market Analyst
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