FX News Today
USD mixed but biased higher, Yields move lower, Equities edge higher. Biden stimulus announcement later, Trump impeached. Asian markets move higher, US CPI & Oil yesterday inline with expectations, Lagarde talked of extending PEPP as required and hopes for a digital EUR with 5 years. Overnight – More good news from JPY and the the largest ever Chinese monthly trade surplus (78.2Bln and a +18.1% increase in Exports). AUD & NZD benefit the most. Gold & Oil lower, Bitcoin bounced again.
China reports first COVID death in six months.
USDIndex – Holds over 90.00. Trades at 90.36, – PP 90.20 – R1 90.50, S1 90.00
EUR – Back under 1.2200 (R1) – Trades at 1.2145 now– PP – 1.2170 (200HrMA). S1 1.2125.
JPY – Back to just break over 104.000 – Trades at 104.05 (R1) – PP 103.78, S1 103.60
GBP – Continued rally to 1.3700 yesterday. back to 1.3650 (PP) – R1 1.3680, S1 1.3600
AUD – Over 0.7700 – trades at 0.7750 (PP) now. R1 0.7772, S1 0.7710 NZD – Holds at 0.7200 (PP and 200MA) – s1 0.7152, r1 0.7226 CAD – Back under 1.2700 (S1) trades at 1.2680 (S2) – PP 1.2772 CHF – Trades at 0.8875 (PP) – S1 & 200MA 0.8850, R1 0.8890
BTC – Bounces back to R3 at $38,300. – PP today 34,000,
GOLD – back under 1850 (S1) and Trades at 1837 (S3) – S2 1842, USOil – Down from yesterdays 11-mth high at $53.90 after official inventories were in line with expectations. Trades at $53.00 now – PP 53.10, s1 52.55, r1 53.85
USA500 – Closed up 8.86 (+0.23%) 3809 – USA500 FUTS now at 3818 – 49 days north of 20SMA (3743).
Today – ECB minutes, US weekly jobs data, OPEC MOMR, President-elect Biden is to unveil his stimulus package, Fed’s Powell, Rosengren, Bostic, Kaplan,
Biggest (FX) Mover @ (07:30 GMT) AUDJPY (+0.41%) Daily chart breached 20SMA Nov. 3 at 74.80 – Bounced from 80.25 on open, data and stimulus expectation helping tested 80.75 earlier. Fast MAs aligned and trending higher, RSI 61 and rising, MACD histogram & signal line aligned higher and north of 0 line from earlier, Stochastics OB since MACD broke 0 line. H1 ATR 0.1025, Daily ATR 0.6000.
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Stuart Cowell
Head Market Analyst
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