Market Brief

Asian markets continued to dwindle as the U.S Stimulus package failed to impress anyone. This was further exacerbated by the lack of response by the U.S government to this generalized pessimism. The Nikkei dropped by a frightening -4.92% this morning, while the Hang Seng fell by -3.3%. The ASX plunged by -4.2% after a $28Bn economic stimulus package was rejected by lawmakers. The AUDUSD traded amidst heightened volatility as a result – seeing the Aussie decline sharply to 0.6480 territory, however it seems a lot of this was already priced in.

The EURUSD is seen converging around a 1.2900 handle, however further news impetus will continue to weigh on the pair – 1.2707 seen as short-term target, passing by 1.2847 as key currency level. The USDJPY see’s Japan’s haven currency appreciate – much to the disdain of the home economy – largely supported by exports.

In the news today, Spain announces it is officially in recession as its GDP declines by 1.00%. US Initial Jobless claims are expected at 13:30 GMT – expected to come out lower than the previous -626K at -610K.

Snap Shot

Global indexes Current level % Change
Nikkei 225 Index8023.3- 4.92
Hang Seng Index13242- 3.37
Shanghai Index1920.2- 0.45
FTSE 100 Index4142.5+ 0.27
DAX Index4435- 0.30
Nasdaq futures1143.5- 1.88
DJIA futures8140- 0.23

World marketsCurrent level% Change
Gold811.3-0.05
Silver10.45-1.28
VIX49.1413.56
Crude wti37.681.07
USD Index84.33-0.11

Todays calender Estimates Previous Country / GMT
EUR - Industrial Production (MoM)-2.5%-1.6%EUR / 10:00
USD - Initial Jobless Claims (JAN)-0.8%-2.7%USD / 13:30
NZD - Retail Sales-0.7%0.0%NZD / 21:45


Currency Tech

AUDUSD
R 3: 0.6849
R 2: 0.6622
R 1: 0.6569
CURRENT: 0.6491
S 1: 0.6482
S 2: 0.6360
S 3: 0.6250

EURJPY
R 3: 117.24
R 2: 116.78
R 1: 115.96
CURRENT: 115.52
S 1: 114.47
S 2: 113.23
S 3: 113.00

USDSGD
R 3: 1.5182
R 2: 1.5161
R 1: 1.5113
CURRENT: 1.5099
S 1: 1.5077
S 2: 1.5037
S 3: 1.4972

  • S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot