- FX – USDIndex rallied to 101.90 and trades at a previous intra-day key pivot level at 101.65. EUR declined further to 1.0910 rejecting 1.1000. Today 1.0950 remains immediate resistance. JPY pushed higher again and breached 134.50 briefly today. Sterling moved down to 1.2355 lows yesterday but is testing back to 1.2400 today following the UK jobs data.
- Stocks – US markets closed flat but positive across all sectors (0.28% to 0.33%) #US500 closed +13.68 pts. at 4151. – US500 FUTS are higher today at 4177 and above the key resistance at 4175. #SST -9.18%, MRNA -8.36%, Roblox -12.01%. #GOOGL -2.66% (Rumour that Samsung is to use Bing, not Google for searches) Musk; latest to announce investment into to new AI platform to rival ChatGPT.
- Commodities – USOil – Futures declined into $80.30 yesterday but has recovered to $81.00 day. Gold – continued to slip, testing $1982, before recovering the key $2000 today
- Cryptocurrencies – BTC declined from the $30k level yesterday to $29K and back to $29.6k today.
Today – German ZEW, US Housing Starts/Building Permits, Canadian CPI, Fed Discount Rate Minutes, Speeches from Fed’s Bowman, BOC’s Macklem & Rogers, ECB’s Elderson. Earnings from Ericsson (beat), United Airlines, JNJ, Netflix, Goldman Sachs & BofA.
Biggest FX Mover @ (06:30 GMT) AUDUSD (+0.59%). Rallied from a decline to 0.6680 yesterday to test 0.6740 today, 0.6750 and 0.6780 next resistance areas. MAs aligned higher, MACD histogram & signal line positive & rising, RSI 66.50 & rising, H1 ATR 0.00090, Daily ATR 0.00751.
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Stuart Cowell
Head Market Analyst
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